In this post, we discuss the top 10 reasons for starting a vacation rental business, emphasizing the benefits for real estate companies, including the potential to generate additional income streams, cross-sell services, and tap into new markets.
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It is said a picture is worth a thousand words. Most people are drawn to pictures and will judge their rental prospects predominantly on what they see as opposed to what they read. Flipkey, a vacation rental search platform purchased by TripAdvisor, completed a study revealing HD photography increased bookings by 98%.
Tags: How to market vacation rentals, Marketing, Rental Management, Vacation Rentals, Professional Photography, Rental ROI, HomeAway listings
With the season interim rolling through and companies switching their bookings, images, and all that comes with new season of renters, scammers can creep in unexpectedly. We preach the awareness of rental scams and how to educate your potential guests as how to best avoid a scam but seldom do we as an industry take a proactive approach to scams. Often, we will respond to an attempted scam but many times, the damage is already done.
Tags: Client Expectations, Scams, Vacation Rental Software, Rental Management, rental marketing, rental indusrty competition
Well it’s the time of year up here in New England where rumors of snow are backed up by frigid mornings and mildly warmer days, most call it winter but I am lucky enough to call it hockey season. Now some may not see the difference between a winter enthusiast and a hockey fan but differences like this can distinguish your business from the rest. With the winter coming in, the rental market shifts drastically up here, and in any location with winter snow. So how does this resonate through with your business? Here are 8 ways to beat the winter with simple marketing tools
Tags: Vacation Rental Industry, Vacation Rental, Vacation Rental Software, rental industry competition, How to market vacation rentals, Rental Management, Second Home, Property Management Software, Management Software, Competitive Advantage, Rental management Software, rental marketing, Property manager marketing, professional management, rental indusrty competition, Offerings, rental management business, Rental Management CRM, CRM, CRM Tips
Barefoot newcomer, Claiborne Yarbrough, attended the VRMA Conference with the team in Nashville this month. With less than a month under her belt and being stuck in a booth with 3 annoying gents, this would be quite a task for the new member of our vacation rental software team. Read on to see how she handled it, her key takeaways, and an overall introduction to the newest member of our sales team!
Tags: Barefoot, Client Expectations, Vacation Rental Software, How to market vacation rentals, Rental, Rental Management, Property Management, Property Management Software, Management Software, Airbnb.com, rental management business, Rental Management CRM, VRMA, VRental management Software
Tags: Vacation Rental Management, Vacation Rental Industry, Rental Market, Vacation Rental Software, Rental Management, Property Management, Property Management Software, Management Software, Competitive Advantage, Rental management Software
With the unveiling of information regarding Elon Musk's latest venture, the Hyperloop, set for 4:30 et today, my mind has been running wild with all the possibilities this could mean for vacation rentals. It is almost scary to realize how little attention this incredible possibility has garnished in some circles. If you haven't heard of the Hyperloop, it is a new transportation method that will cut cross country travel to a matter of minutes!
Tags: Vacation Rental Management, Vacation Rental Industry, Barefoot, Rentals, Vacation Rental Software, Rental Management, Property Management Software, Management Software, Competitive Advantage, Rental Software, Hyperloop, Elon Musk
In the world of Vacation Rentals, there are sometimes too many numbers and trends to search through to find the value. In these cases, large companies tend to excel and HomeAway is no different. In a recent purchase, for a yet defined amount, HomeAway is purchasing the majority of travelmob, an online startup with vacation properties in Asia Pacific. While this may seem like an odd move, HomeAway backs it with strong numbers, reporting that "over 100 million people will enter the Asian middle class each of the next several years, and Asia will have an increasing influence over the world's economic growth" as told by Brian Sharples, chief executive officer of HomeAway.
Tags: Vacation Rental Management, Vacation Rental Industry, Barefoot, Rentals, Rental Market, VRBO, HomeAway, Rental, Rental Management, Property Management, Second Home, Property Manager, Management Software, Rental Software, Vacation Rentals
The vacation rental industry is changing, almost daily, as you are well aware. Home Away, Wyndham, Marriot, Trip Advisor and other large companies are moving us to places we have never been before. It can be a very challenging environment to work in. The good news is that these companies all bring awareness to our industry that there hasn’t been here before. PhoCus Wright, which is a travel research company, recently published a report, PhoCusWright’s U.S. Vacation Rentals 2009-2014: A Market Reinvented. It is a very expensive report, but brings some very valuable information to us. It was said that only 10-15% of travelers knew or considered vacation rentals. Well in this report, 20% of the travelers surveyed stayed in a vacation rental in the past two years. An additional 27% considered a vacation rental, but ultimately chose another option. Why? Well, part of it is the misconceptions of our industry, that vacation rentals are only suitable for longer trips and larger groups, as well as vacation rentals not having the “amenities” that hotels offer. Today, this is not necessarily the case.
So the good news is that more and more folks are looking at vacation rentals, but the bad news is that still, only 20% of travelers are actually choosing our industry to meet their vacation needs. How did it get from the 10% that it was 5+ years ago, to the 20%? And how do we get it from 20% to 30% and more? Most of us will agree that the national economy hasn’t improved that much. Unemployment is going back up, and so many people are still out of work. So why is it that our business is so much better? I would suggest that the marketing awareness created by these large companies, as well as the internet providing more and more innovation, is finding the average consumer, and we need to take advantage of it. So some thoughts on how you can get on board:
Tags: Barefoot, Vacation Rental, Rentals, Rental Market, Rental, Rental Management, Property Management, Property Manager, Property Management Software, Management Software, Competitive Advantage, Rental Software, Rental Management CRM, CRM, Break
So its national Vacation Rental month this July and we hope that you are preparing for the blast of business and overwhelming amount of guests. What’s that you say, you’re not doing anything to push this news to your potential guests? Surely there is a mistake here as this is some free publicity. If you have not been publicizing this then you are falling into the shadows of large companies like Wyndham, who are playing on the national level. Fear not, here are 5 ways you can still make the most of the free publicity of this month!
Tags: Vacation Rental Management, Vacation Rental Industry, Barefoot, Vacation Rental, Rentals, Rental Market, Vacation Rental Software, Rental, Rental Management, Property Management, Second Home, Property Manager, Property Management Software, Vacation Advice, Management Software, Competitive Advantage, Rental Software, Vacation Home, Vacation, Rental Management CRM
