5 Mistakes Every Holiday Apartment Owner Makes That You Can Avoid

Being a holiday apartment owner is not easy, especially if you own multiple properties. Factors like attracting tourists to running the rental all by yourself and maintaining the property, it can get tricky sometimes. However, we can honestly say that it is worth all the time, money, and energy. Why? Because it is an investment and you will reap maximum benefits if you do it right. 

In recent years, the use of home-stay accommodations has exploded globally. Thanks to Airbnb, people have now started renting fixed Airbnb-style apartments. However, not all of them are successful. There is a certain way of approaching this business. Mistakes can waste time, cost money, and cause stress!    

If you are sitting on the sidelines monitoring this trend with a watchful eye, intending to start your own holiday apartment rental business, here are the key mistakes you need to avoid. 

#1 Not researching average rental income and occupancy rates

Before you transform your property(s) into a holiday rental, you have to determine the expected returns, including if the location actually receives traffic from tourists and foreigners. This can be easily achieved with a simple online search. To make it easier, you can search other rental property owners in your locality (if any) and find the average rental income. This is important because you get to understand the potential of your holiday apartment investment. Look into the seasonality trends, features, descriptions, reviews, bookings, and more. This will help you plan accordingly and market your business in the locality and elsewhere. 

#2 Making your listing just as a rental 

The primary reason why tourists and people prefer holiday rentals over hotels is that it allows them to stay at a unique property every time and everywhere they travel. Most people starting out in this business let their rentals be a dreary cliché. It is the biggest mood kill for potential renters. There’s a lot more involved than just adding a fresh coat of paint and listing the property. You have to give your holiday rental its own charm and identity. If there are weird displays and paintings on the walls, keep them! Make use of the recyclable elements to decorate your property. The distinctiveness adds to your visitors’ experiences.  

#3 Weak marketing 

Many holiday rental owners simply advertise on a big listing site, and that’s it. You need to understand that it is a big industry and if you don’t keep up with the trends and competition, you will never achieve the goals you had created. Don’t focus on just one advertising channel. Use social media to draw out potential guests and tourists. Don’t just display rates on the listing sites, instead, tell more about your property, add pictures, create posts, and more. Diversify your marketing as much as you can. Contact the local diners and restaurants, and hand out pamphlets and other printable advertisements. Marketing is the key to drive more guests to your holiday rental. 

#4 Not setting house rules 

This is probably the biggest mistake that holiday apartment owners make when renting out the property to guests and tourists. Guests come in all shapes and sizes. Most of them don’t care about your property. Thus, it is important that you set some house rules to ensure no harm is attained to your property in any manner. This is why it is important to own a website. You can list the terms of services and everything regarding that aspect on your website. From getting personal details before booking to streamlining the payment process, the fine charged in case any damage is done, etc. could be mentioned prior to giving the property to the renters. 

The Bottom Line

It is important that look into all the aspects before starting your business. Competition is already soaring and you must come up with unique ideas to attract guests.     
Are you looking for a car to buy this year? we recommend you check the 20 Questions You Should Always Ask About Volkswagen Transporter Vans For Sale Before Buying It.

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