rocky 10/30/2019

The 5 Big Don’ts of Short-Term Rentals

The 5 Big Don’ts of Short-Term Rentals

These are the top 5 tips on what not to do when starting as a short-term rental owner. To run a successful short-term rental, this is a must-read before booking the first stay. Without having any knowledge of the short-term rental industry these tips can break the surface on being a great host.

#1 Don’t Ignore Regulations

Do you know what types of regulations and laws are in your community?

Each city will have different laws that every short-term rental owner must know. These laws specify what types of permits, how to display them, what are considered violations, etc. Most cities require short-term rental licenses posted either on the property or within the listings. If these laws are ignored, the city has the right to fine the property owner or shut down the short-term rental.

Go online and search for short-term rental regulations in the selected city. It will direct you to the government page dedicated to the specific city. From here, all of the information can be found within this website. If more information is needed, get in contact with the city, and they can redirect to the proper channel.

#2 Don’t Go Without Smart Home Devices

The benefits of having smart home devices are endless. They provide property protection that will make guests feel safe while staying at the short-term rental. Feeling safe, in turn, will increase the likelihood of getting higher reviews on the property, encouraging more bookings to the property.

Smart devices will also allow for property owners/managers to be aware of what is occurring at their property at the tips of their fingers. If it is getting loud enough to disturb the neighbors, noise monitoring sensors will alert the property owner/manager that the noise levels are exceeding the threshold. The manager can take the proper course of action before the problem gets out of hand, and the neighbors get annoyed.

#3 Don’t Forget About Your Neighbors

To avoid any issues with your neighbors adjacent to the property, inform them that you are planning on turning the property into a short-term rental. Keep the line of communication with the neighbors open, so they are more likely to call the owner first before getting the law involved. Having excellent relations with the neighbors will create a welcoming community that guests will benefit from

To help calm your neighbor's concerns about the stigma behind short-term rentals, show them that precautions are being taken to keep them happy. One of the critical elements to achieve this is the installation of smart home devices. By letting neighbors know that you care about them and are doing everything possible to keep the peace, it will make them feel more comfortable with the idea of living next to a short term rental.

#4 Don’t Stick To One Online Booking Platform

Have a property on more than one website will expand the guest's reach, increasing the chance of getting more bookings.

People who only list their properties on one website are less likely to have the traffic that the major online booking sites can provide. Not having the traffic will increase the vacancy rate of the property, which decreases the rental income for that particular property. Being on multiple booking platforms allows the owner/manager to vet which guest they want to stay at their property.

#5 Don’t Slack On Profiles

Besides location, profiles are the first thing potential guests will glimpse at to ultimately decide if they want to book a stay.

For the basics, the pictures are by far the most important. These pictures should be of the highest quality and feature the best aspects of the property. Having trendy decor will draw in the eyes of the potential guests to the listing. From here, there needs to be a concise description that will hook in the viewer enough to scroll down to all of the other amenities. The more amenities that are provided will increase the odds of being booked. When people go on vacation, they want to feel relaxed with everything they need.

The Big Takeaways

The crucial things to takeaway are:

  1. Never ignore the regulations or else your short-term rental can be shut down and fined
  2. Smart home devices are life-savers and make guests feel safe
  3. Notify and keep excellent relations with the neighbors
  4. Expand the listing’s reach by putting the property on multiple booking sites
  5. Incredible profiles will increase the number of bookings

Short-term rental owners will be successful in building their reputation when sticking to following the don’ts above. The short-term rental industry is ever changing and evolving, so staying on top of these trends will help keep properties competitive. They will make the property listed bring in a larger cash flow, while keeping the community peaceful.

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