With the dawning of 2009, and the election of President Barack Obama, many vacation rental home owners are faced with the baffling constriction of a weak United States economy. While vacation rental directories are still a necessity, the days of purchasing a listing with a new vacation rental website have become obsolete. Home owners have drawn lines in the sand and are unwilling to spend money on unproven websites, which is causing most of the fly by night vacation rental directories to vanish overnight, leaving the home owner with many questions on what is truly the best way to rent their one of a kind vacation rental.
The good news is there are many solutions to the online marketing enigma. This will be an ongoing series, so subscribe to our blog to stay informed on vacation rental market trends. Let's start with the basics:
To begin with let's establish that your vacation home is in reality a business. In any industry a successful business starts with a great product or service. Since we are talking about the vacation rental industry our product would be categorized as a private residence, fully furnished, uniquely decorated, conveniently located, and professionally maintained, giving each home an overall appeal. This character will become the properties niche, and, with careful planning, will attract the type of traveler that meets demographic standards.
These standards may vary from one homeowner to the next. For example, one homeowner may be interested in renting his or her home to the spring break crowd, and, in order to minimize the risk of theft and property damages, places a high security deposit with a descriptive contract. None the less, this is not a reason to complicate things. Most home owners simply require a brief interview of the interested traveler, and much can be told by the age and quantity of visitors; a large group of renters between the ages of 18-21 will likely be a liability.
The key to marketing a vacation home as a rental property starts with knowing your audience. Once you have identified the niche market that your property attracts you can start taking steps to focus on your target audience. Here are a few questions you should ask yourself:
1. Who is my target audience?
2. What type of renter do I want in my vacation home?
3. Does my geographic location and interior decoration appeal to my intended target audience?
