Owning a vacation rental is rewarding both financially and personally. However, it's no walk in the park. Along the way, many make mistakes, which risks their profit. Successful vacation rentals require a solid business model. Luckily, you can learn from the mistakes of others and our experienced vacation rental management team at Finger Lakes Premier Properties.
We've rounded up the most important don't when owning a vacation rental. Use our team's expert advice to ensure your vacation rental home is a success!
Not having high-quality photos
People rely on imagery more now than ever before. Having high-quality photos for your vacation rental not only catches a persons interest but also improves your visibility. When booking a stay, travelers will begin to envision themselves in the home and it will justify the cost of the reservation. The photos you display have a huge impact on their decision. If the photos are poor quality, renters might look away and continue their search elsewhere.
You'd be surprised to learn that some vacation rentals with a lower value have a better occupancy rate than those with a higher value simply because they have put more effort into their property appearance for photos. And added perk is virtual tours. These allow guests to really get a feel if the home is going to fit their vacation needs, especially when it comes to sleeping arrangements.
Owner Perk* If you join our vacation rental management program at Finger Lakes Premier Properties, we supply an in-house photographer to capture high-quality photos, videos, and virtual tours!
Not prioritizing cleanliness
Regardless of how spectacular your rental might be – unless it's pristine – it won't receive the upmost appreciation. Your guests expect the same standard of cleaning as what they would get in a hotel. If you'd like to impress your clients, you should strive to have high cleaning standards.
We advise working together with a professional cleaning company that can assist with deep cleaning and disinfecting your space. From door knobs to the kitchen cabinets – everything should be as fresh as possible. One thing to keep in mind when it comes to cleaning, make sure those cleaning products are either locked away or stored in a high, safe space away from little hands.
Owner Perk* If you join our vacation rental management program at Finger Lakes Premier Properties, we supply our trained team of housekeepers that also includes fresh linens for every guest and laundry service!
Not setting clear rules
Whenever you look for vacation homes, you'll most likely be faced with a list of do's and don'ts. That's a smart move – even before making a reservation, guests must comply with the set rules.
Regardless of where you offer your vacation rental, you should create your own etiquette and safety guidelines. Not only does this protect your property (and nerves), but it also helps guests understand whether your rental suits their needs. When writing down the rules, make sure to state the penalties that might follow.
Setting the expectation, especially in the Finger Lakes, that your guests is staying in a community, not a resort, will also help with your neighbor relation. As the Finger Lakes embarks on new territory with regulations, maintaining the lakeside community vibe is crucial to success. For more information about good neighbor policies and regulations, visit the Finger Lakes Vacation Rental Alliance.
Owner Perk* If you join our vacation rental management program at Finger Lakes Premier Properties, our New Owner Services Team will help guide you through the steps of creating available amenities, rules for your home, and takes care of the good neighbor relations.
Not putting effort into guest experience
When managing a summer vacation rental, you must prioritize the guest experience. If your visitors have a memorable time, they are more likely to return. This, of course, is important for your business. It doesn't mean you have to spend all your time ensuring your clients are happy but offering empathy and flexibility goes a long way.
A crucial part of the guest experience is making sure their questions are answered and responses to any concerns they have while they are in-house is timely.
Especially for those lakeside home, adding some easy amenities such as non-motorized watercraft provides an easy upgrade to ensuring they enjoy their time at the lake. Other easy experiential add-ons include vacation guides, things to do, board games, and even some of your favorite books for them to relax and enjoy their time away.
Owner Perk* If you join our vacation rental management program at Finger Lakes Premier Properties, each guest has access to our customer care, maintenance team, and guest app.
Not asking for reviews
To make the most of your lakefront vacation rental, you must request reviews from your guests. Sure, the risk of getting a bad review is scary. After all – it can damage the reputation you've built. But reviews play an important role in securing your properties success. They serve as social proof of your credibility.
Science backs this up too. Research shows that customers are more likely to trust businesses with online reviews than companies with no ratings. Furthermore, 93% of people look at reviews before making decisions.
Don't forget that reviews can be an additional resource to understand how your rental could be improved.
Owner Perk* If you join our vacation rental management program at Finger Lakes Premier Properties, our marketing team requests a property review from guests after every stay and the review is live on your property listing - MAGIC!
End notes
People love visiting the Finger Lakes Region and since there are now enough rentals to meet the demand, your vacation rental should avoid minor mistakes and stand out from the rest. This could be your opportunity to give travelers a taste of the lake lifestyle. If you'd like to learn more about owning a lakefront vacation rental, take a look at our blog or reach out to our local team for more information.
