According to Cleveland Magazine, visitors to Cuyahoga County in 2022 increased by 12% from the previous year. The area had 17.9 million visits in 2022, and visitors spent $6.4 billion throughout the county, helping boost the Cleveland economy.
Such figures should tell you now is the best time to start a Cleveland vacation rental business. It can prove lucrative, provided you implement effective strategies for managing bookings and reservations.
If you're unsure where to start, don't worry. PMI Realty Group Prettyman will share booking management tips and tricks to help you optimize your rental income and reservation system in Cleveland, OH.
Use Short-Term Rental (STR) Software
STR software programs are rental management systems. They let you organize and track bookings and reservations with a centralized platform. Some of their primary and typical features include:
- Booking and reservation management tools
- Scheduling calendar
- Automated reminders for upcoming check-ins and check-outs
- Accounting and bookkeeping features
- Payment-related tasks, such as acceptance and processing
- Revenue management
With a rental management system, you can streamline your Cleveland, OH, reservations and existing bookings. As a result, you can also improve the next item in this guide: guest communication.
Communicate Effectively
Clear and transparent communication should start the moment you market your Cleveland rental. Yes, you must let your creative juices flow when creating property listings. However, you must also ensure they're factual.
You should also enforce practical house rules for the safety of your property, neighbors, and guests. The rules should be in writing and plain language (i.e., easy to understand without technical jargon). Don't forget to have guests sign the paperwork, too.
Respond to inquiries from confirmed and prospective vacation rental guests within at least 24 hours. For current bookings, keep your lines open 24 hours in case of emergencies.
Invest in Professional Property Management
Investing in professional rental property management in Cleveland, OH, is the best, most straightforward way to handle bookings and reservations. You can free up loads of your time because your property manager will handle most, if not all, tasks on your behalf, such as:
- Ensuring your rental complies with the Cleveland Rental Registration Ordinance
- Processing bookings and reservations
- Communicating with prospective and paying guests
- Assisting with guest check-ins and check-outs
- Overseeing property maintenance, inspections, and repairs
You can also expect your manager to screen guests and enforce house rules. Such services can help keep your property safe from potential damage and loss. They can also help you avoid getting into trouble with your neighbors.
Follow These Tips for Managing Bookings and Reservations
Using STR software, communicating effectively, and enlisting the help of pros are all effective strategies for managing bookings and reservations. However, if you want the most hands-free way to profit from your rentals, your best bet is to work with a property manager.
Our locally owned and operated full-service property management firm, PMI Realty Group Prettyman, can assist with all your vacation rental management needs. Our property manager and owner, Sherri Doumbia, has over 15 years of real estate expertise. Plus, we're a proud member of PMI, a larger national company with nearly two decades of history serving the property management industry.
Speak with us today, and we'll happily give you a free rental analysis!
