Running a vacation rental business certainly has its unique quirks. If you’re someone who owns properties all over your country, you may be familiar with this topic, but if you’re new to the game, or looking to expand the longevity of your business this may be for you. With some locations, your short term rental property may only have a few months of operability, decreasing your potential income in the long run. Whether you rent out a cottage during the summer, or a chalet during the winter, you’re currently missing out on the other months that you could still be earning revenue.
The first and most important question to ask yourself is “Will increasing the number of available months mean an increase in bookings?”. Simply put, if no one wants to rent during your off season, there is no point in changing what you’ve got. However, if you have received inquiries for those booked off months, you may want to consider increasing your availability. Assuming there is interest in booking your property in your off season, what do you have to do to ensure success?
For starters, if your property is usually a one season destination, you are going to need to invest in some sort of reverse heating/cooling system, that is, if you currently don’t have A/C, you’ll need that (and vice versa for heating). By adding the missing heat/cool aspect, you’ve given your property strength to operate in different seasons. On the same topic, you will also have to figure out how well insulated your property is, so that you don’t incur more expenses when guests are booking.
Besides heating and cooling, you will also have to figure out what and why guests are wanting to stay in that location. You’ve currently marketed your property for a specific season, and are now going to have to market your property for several others. If it’s a ski chalet, are there any wineries nearby or possible sites to see? These all add value to your property when people are looking to book.
By opening up your property for a larger portion of time, you allow your property to earn you more money without having to consider purchasing another property. If you have any questions about weatherproofing or changing your listing, feel free to email us at email@example.com