Cleveland is a hot destination for tourists, with over 20 million visitors expected in 2024. With such numbers, it's a no-brainer that investing in a short-term rental property is a smart move.
Although short-term rentals are still a minority of accommodation options available, they're gaining ground quickly. As a host, though, don't assume those bookings will come on a silver platter. Most of your future guests don't know your property exists, and there's strong competition in the local market.
As such, you must implement various short-term rental strategies to optimize your property for higher bookings. Read on to learn more about some of these strategies.
Ensure the Rental Looks the Part
When you picture a vacation rental, your mind conjures images of a tranquil place with comfortable seats, a cozy bed, and even a great view. This is exactly what most visitors coming to Cleveland are expecting when they get to the short-term rental they have booked.
Don't disappoint your guests' expectations. Ensure your rental looks the part by refreshing the curb appeal and creating a stylish interior. The goal is to make the place picturesque and Instagram-worthy.
First impressions matter in the short-term rental business. That's how you'll score five-star reviews and secure repeat customers.
Provide Essential Amenities
While having a vacation rental that looks great is key, it may not count for much in terms of guest satisfaction if the amenities are lacking. Guests want high-speed WiFi, a washing machine/dryer, a work-from-home space, and a fully-equipped kitchen.
Provide these amenities and keep an eye on your guests' needs and preferences. If there's an amenity that an increasing number of guests need and you don't have it, make plans to get it as soon as possible.
Streamline Your Booking and Reservation Systems
Making it easy for your guests to book/reserve is a crucial vacation rental optimization strategy. Marketing your rental on social media and asking interested guests to call you whenever they want to make a booking is an inefficient strategy. So don't expect it to yield any meaningful rental profit enhancement.
What you need is an end-to-end booking management software, ideally integrated into the rental property's website. The system will automate your booking operations, making the process seamless and effortless for you and your guests.
Pricing Strategy
You're in the vacation rental business to earn a good passive income. Without an effective pricing strategy, that's going to be an elusive goal.
To price your short-term rental, start by researching what similar properties in the community are going for a night. You also need to master the art of seasonal pricing. During peak seasons, implement surge pricing to take advantage of the increased demand for short-term accommodation in Cleveland.
Run a Successful Short-Term Rental
Running a successful short-term rental in Cleveland requires you to know how to position it for higher bookings. These strategies will help you optimize the property, but don't stop there. Getting professional help can be a game-changer.
PMI Realty Group Prettyman has been helping vacation property owners in Cleveland become successful hosts. We are a dynamic, fast-growing franchise that has been innovating in the property management industry for nearly 20 years, providing trusted local expertise, exceptional customer service, and state-of-the-art technology to keep both owners and guests satisfied.
Call us to schedule a consultation.
