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The Dos and Don'ts of Short-Term Rental Property Management
Effective short-term rental property management can boost bookings while saving you time.
Are you looking to improve the performance of your short-term or vacation rental in Calgary or BC?
What is Short-Term Rental Property Management?
This term refers to the administration and supervision of short-term rental properties, usually by short-term rental property managers or a property management company that completes the exhaustive list of daily tasks, such as:
- Managing property bookings and listings
- Handling check-ins and checkouts
- Property cleaning, maintenance, and repairs
- Guest communication
- Managing guest reviews
- Marketing
- And more
As the popularity of short-term rental properties continues to rise, it’s up to the property management company to ensure your business runs smoothly, guests enjoy unmatched 5-star experiences, and your ROI steadily increases.
The Dos of Short-Term Rental Property Management
Whether you’re thinking of tackling the job yourself or are looking to hire a professional short-term rental management company, here are a few dos for short-term rental management success:
- DO invest in high-quality photographs: Creating stand-out listings helps put your property in the spotlight. Professional photography attracts potential guests and adds personality to your listing.
- DO set competitive pricing: Many factors can affect your rental price, from amenities and location to square footage, season, and more. The most effective way to determine your short-term rental pricing is by conducting comprehensive market research.
- DO respond promptly to inquiries and bookings: Your level of customer service can make or break your business. For the best customer experience possible, ensure you respond quickly to guest inquiries, resolve issues sympathetically and promptly, and be available 24/7 to meet and exceed your guests’ needs.
- DO maintain cleanliness and provide essential amenities: As the popularity of your property increases, expect more wear and tear. Provide top-notch cleaning services and amenities that cater to guest satisfaction, such as high-speed WiFi, comfortable sheets and mattresses, unique experiences, and more.
- DO gather positive reviews: Increase your occupancy rate and build a positive reputation by providing exceptional guest experiences that lead to repeated 5-star reviews. Strive to exceed guest expectations and ask for feedback to keep improving.
The Don'ts of Short-Term Rental Property Management
Here are a few things to avoid in short-term rental property management:
- DON’T neglect property maintenance: Neglecting ongoing maintenance often results in bigger problems and more costly repairs. Timely routine maintenance ensures your rental stays in tip-top condition and keeps guests happy.
- DON’T ignore local regulations and legal requirements: Rental properties have strict rules to protect the safety, health, and interests of owners and guests. Staying on top of your local regulations and legal requirements helps ensure long-term success.
- DON’T overbook or double-book: The last thing you want to do is overbook or double-book guests — this can have long-lasting consequences such as bad customer experiences, negative reviews, lost revenue, and much more.
- DON’T neglect communication with guests: Responding to and sending information promptly makes guests happy, gains their loyalty, and encourages repeat bookings.
- DON’T disregard feedback: Happy guests typically become loyal guests, but unhappy guests will likely go elsewhere next time. Listen to guest feedback, ensure they feel heard, and make necessary improvements to boost your reputation and encourage travellers to keep choosing your property.
DO Hire a Property Management Company to Eliminate the Stress
Thankfully, Aisling Baile is on your side.
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