What Strategies Can I Employ to Attract Long-Term Bookings for My VRBO Property?
As a vacation rental owner, you know that attracting long-term renters can be a challenge. After all, most people who are looking for a place to stay for an extended period of time are more likely to go through a traditional rental agency or list their property on a site like Airbnb. However, there are a number of things you can do to make your VRBO property more appealing to long-term renters, and in this blog post, we’ll discuss some of the best strategies.
Offer Competitive Rates
One of the most important things you can do to attract long-term renters is to offer competitive rates. When people are looking for a place to stay for an extended period of time, they’re often looking for the best possible deal. If your rates are too high, you’re likely to lose out on potential renters.
Of course, you don’t want to price yourself out of the market, but you also need to make sure that you’re making a profit. A good rule of thumb is to set your rates at a slight discount compared to similar properties in your area. This will make your property more attractive to potential renters, and it will also help you to fill your vacancies more quickly.
Provide Amenities That Long-Term Renters Want
In addition to offering competitive rates, you also need to make sure that your property has the amenities that long-term renters want. These amenities may include things like a washer and dryer, a dishwasher, a microwave, and a parking space. You may also want to consider offering amenities like a pool, a fitness center, or a playground if your property is located in a family-friendly area.
When you’re considering what amenities to offer, it’s important to think about the needs of your target audience. For example, if you’re targeting families, you’ll want to make sure that your property has amenities that are appealing to families, such as a playground and a pool.
Be Flexible with Your Rental Terms
Most long-term renters are looking for a property that they can rent for a minimum of six months. However, some renters may be willing to rent for a shorter period of time, such as three months or even one month. If you’re flexible with your rental terms, you’ll be more likely to attract potential renters who are looking for a short-term rental.
Of course, you don’t want to rent your property out for less than you’re worth, but you may be able to offer a slight discount if you’re willing to rent for a shorter period of time. This could be a good way to fill your vacancies during slow periods.
Market Your Property to Long-Term Renters
Once you’ve made your property as appealing as possible to long-term renters, you need to make sure that you’re marketing your property to the right people. One of the best ways to do this is to use online advertising. You can target your ads to people who are searching for long-term rentals in your area. You can also use social media to market your property.
Another great way to market your property to long-term renters is to network with local real estate agents and property managers. These professionals often have connections with long-term renters who are looking for a place to stay. By networking with these professionals, you can increase your chances of finding a long-term renter for your property.
Provide a Great Rental Experience
Once you’ve attracted a long-term renter, the next step is to provide them with a great rental experience. This means being responsive to their needs, keeping the property clean and well-maintained, and resolving any issues quickly and efficiently.
If you provide a great rental experience, your long-term renters are more likely to renew their lease when their current lease expires. They may even refer their friends and family to you. This can help you to build a long-term rental business that provides you with a steady stream of income.
Conclusion
Attracting long-term renters to your VRBO property can be a challenge, but it’s definitely possible if you follow the strategies outlined in this blog post. By offering competitive rates, providing amenities that long