Be Picky - Lodging Newsletter March 31, 2021
By Wm, May
Published: 03/31/21 Topics: AirBnB, Branding, Channel Management, Lodging Newsletter, Vacation Rental Management, Vacation Rentals Comments: 0
Vacation rentals have been around forever. Did you know that many delegates to the U.S. Constitutional Convention in 1787 rented private homes during the meetings? Of course, they weren't called "Vacation Rentals", but they do mostly fit today's definition.
Why would the founding fathers prefer staying in private accommodations instead of a hotel? Believe it or not, there were no such things then as we know them today. But there were inns that had rooms and usually served food, too.
Maybe the delegates liked the idea of coming and going without being seen? Without disturbing anyone. Or maybe they liked the privacy while debating what were certainly earth-shaking questions.
Our first office open in 1964 and the world of vacation rentals has changed greatly, frequently and, sometimes, unexpectedly. The events of 9/11, the 2008 real estate depression, and now this dang thang called COVID have wrenched the industry, forcing managers to adjust and adapt. Not all have.
Although most of us were not around, or at least were not working (!), we know that past vacation rental management customer service pretty much included "Here's the keys, good luck." But those days are long gone.
Today, vacation rental professionals must provide 24/7/365 service, instant guest assistance, and careful property management. The internet changed the world and, very greatly, the world of vacation rentals.
Now guests can find, compare, quote, and rent homes all over the world. Photos, 3D tours, floor plans, online booking and reviews enable for careful shopping. Guests demand all of that and owners, who want to make maximum income with minimum fuss, deserve that.
But some property owners fail to get all they deserve because they choose managers for one reason instead of insisting on them all. Today's newsletter is a short-list of questions to ask possible managers. Don't settle for less.
Local vacation rental managers, often fail to embrace every method available to serve property owner clients. Mammoth out-of-town managers focus on one aspect and ignore others. Each type of manager will promote one aspect of renting or another.
On the other hand, our goal is to provide every service every home, every owner and every guest deserves. That is a big order and no one is perfect, but as the old cliché goes, "It you ain't trying, you ain't doing."
Some questions to ask of a prospective vacation rental manager are obvious: How long have you been in business? What education do you have? What are your frees.? But indirect questions will reveal whether the manager can deliver what they say - or not.
PROFITABLE - Is your business profitable? (If not, they won't invest in technology and staffing.) We are and have remained so during ups and downs, while others borrowed millions and fired staff to stay in business.
TENURE - How many years have staff leaders been doing rentals? (Nothing trains managers like years in the field.) Partners here have invested decades studying and advancing their craft. We have seen everything and figured how to handle it all. No surprises for property owners.
YIELD - Do they employ Dynamic Rates? (If not, you get lower rates and, surprisingly, fewer bookings - all of which take money out of your pocket.)
ADVERTISING - Where will the property be advertised? (If they say just a few websites like AirBnB and VRBO, your property will get less visibility, fewer inquiries and fewer bookings.) We post listings on hundreds of websites, including every major media you can name.
HOURS: Are they open every day of the year and with instant 24/7/365 support? (If not, one slipped gear results in cancelled bookings, refunds and losses for owners.) We provide instant service because guests, owners and homes deserve it.
TECHNOLOGY: Which software do they use? (The wrong tech slows bookings and prohibits pricing strategy, taking money away from managing your home.). We created all our own software to stay 3 steps ahead of the competition.
PERFECT: Does they provide perfect management in all cases? (This is a trick question.) Properties are like snowflakes - no two are alike. No one can guarantee your home will be hassle free, but we can promise to provide maximum income with minimum fuss to you. It is our job to do the work and your job to profit.
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SCORE CARD: It is our goal to provide all the services and programs of those giant vacation rentals, but with all the benefits of being locally owned and operated. We call it locally managed, globally advertised and technically superior. (Any manager without all of those is losing money for clients.)
If you would like to compare our services to other managers, please ask for our "How to Score Vacation Rental Managers". A long worksheet that will show how much we do for you and how little the other guys do. The form is free.
Author: Wm, May, Vortex Managers
Blog #: 0812 – 03/31/21
Sponsor: Vortex Organization – We train quality people to help run unique Inns, Resorts and Vacation Rental Management companies, in an industry that has been a webby net of technology combined with good old fashioned property, guest and owner services. – VortexManagers.com
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