If you had 10 more properties, could you book them? Spoiler alert: The answer is yes.
Demand for vacation rental properties is at an all-time high. Interest in safe and private properties for a getaway skyrocketed this summer, and the same will hold true for the winter season. Holidaymakers don’t want to be in crowded hotels; they want to minimize contact with others while still enjoying a relaxing escape.
“Our weekends sell out quickly, and the weeknight demand is higher than we have ever seen. We’ve been fortunate to add homes to our inventory, and as soon as they go live, they book up.”
– Jen Richards, Chattanooga Vacation Rentals
Now Is the Best Time to Add New Properties to Your Vacation Rental Program
The more units you manage, the more potential revenue you can bring in. It’s as simple as that. However, with so much demand for short-term rentals, managing bookings and day-to-day operations can make it seem impossible to find the time to also attack inventory acquisition—but you need to.
With bookings on the upswing and economic forecasts predicting that the market will reach $13.9 billion by 2027, acquiring inventory is essential for your business’s long-term growth plan. There has never been a better time to sign more homeowner contracts, so now the question is, how do you add 10 more properties to your program?
How to Scale and Profit from Your Vacation Rental Business
If you find growing your inventory is a difficult and time-consuming task, you’re not alone. Most vacation rental managers feel the same way. In fact, we secret-shopped over 100 vacation rental management companies in the United States and found that only 50 percent of our calls were answered. Let that sink in!
We know you’re busy, so here are our top three tips and technology hacks to scale your business smarter, faster, and bigger.
1. Save Time and Grow Faster with Technology and Tools
Most vacation rental managers use a CRM on the guest side, but are you using one for your homeowners? Reduce the time and cost of adding a new property to your program with Vintory—the number one property acquisition platform designed exclusively for vacation rental managers to grow their inventories. Vintory is your simple-to-set-up, easy-to-use solution to consistently add new properties to your program. Get built-in lead nurturing automation, personalized AI, and centralized dashboards at your fingertips through the Vintory app. Capture more leads, close more deals, and spend less time worrying about when the next lead will arrive at your doorstep.
2. Boost Your Marketing Conversions and Investment
Masterful marketing is essential to growing any business. You need to understand your potential new owners’ problems and demonstrate how you will address them. Having a marketing whiz on your team who understands short-term rentals will help you quickly expand your portfolio. Vintory, in addition to offering its CRM services, has a team of 40+ industry-specialized growth experts who help property managers with all aspects of owner marketing, including building targeted campaigns, running paid ads, and retargeting.
3. Work Smarter, Not Harder with Data-Driven Actions
A successful acquisition strategy should be fueled by data. Data-informed inventory decisions can include which homeowners to target, how to market to these targets, how much to invest in your marketing campaign, and how many more properties will deliver both operational efficiencies and increase the value of your business. Using Vintory’s platform, you can quickly view all of your campaigns and focus your efforts on prospects who are most likely to convert, making the most of every marketing dollar you spend. These insights not only help you in the moment but also lead you to take data-informed actions for your long-term growth strategy.
Don’t Press Pause on Homeowner Marketing This Season— It’s Time to Hit the Gas!
Pressing pause on your homeowner marketing campaigns during the low season is the best way to invite your competitors to get in front of your properties and potential prospects. By the time your owners are waving goodbye, it will be too late to start marketing to get them back. This season, the vacation rental industry has been filled with more opportunities and competition than ever before. Now is the time to hit the gas on your inventory acquisition strategy, and the best way to do that with half the time, effort, and stress is to use Vintory. Go to vintory.com and book a demo to see exactly how we’ll help you add 10 more properties to your program.