The average daily rate of a vacation rental property in Cleveland is currently around $160 at the time of writing, according to AirDNA. That is an excellent sum to bring in every day, especially if you want to start investing in more locations over time. So, if you're going to leverage your vacation rental more, how do you make the most of it without overburdening yourself?
Read on to explore property management tips to help you unlock the full potential of your rental. Discover vacation home strategies to hook potential guests and keep them returning, making your location a prime investment.
1. Optimize Your Cleveland Vacation Rental Listing
First impressions matter, even with short-term rentals. As such, ensure your property photos are as high-quality as possible and reflect reality. We recommend highlighting the property's unique aspects and a single, encompassing photo of the location to stand out in a competitive market.
When writing your description, be descriptive and include local features that can get people excited about their visit. For example, suggest that your property is a bus ride from the Rock and Roll Hall of Fame or the Cleveland Metroparks to attract more tourists.
Investigate SEO tactics, too. Incorporate keywords into your listing to increase the chance of appearing on Google's front page when people make relevant searches.
2. Boost Your Booking Potential with Smarter Pricing Strategies
One of our most important pieces of holiday rental advice is to research the local market for short-term rental insights such as:
- What competitive pricing looks like
- Whether local prices change throughout the week
- If special discounts tend to work in the area
- The impact of extra services on rental prices
You can use these insights to give yourself a leg up in your listing. If performing a specific action is likely to increase your ROI, do it.
3. Focus on Guest Experience to Secure Positive Reviews
Ensure you offer exceptional customer service to all your tenants and a 24/7 guest helpline to help resolve issues. Communicate this to your guests before they arrive, and include a physical copy of your contact details in their welcome package.
It is also essential to ensure the location is spotless and well-maintained. If you cannot do this yourself, hire professional cleaning services for a more thorough and efficient room turnover.
4. Streamline Operations with Dedicated Property Management Experts
Groups like PMI Realty Group Prettyman can offer investment property guidance, helping you get the most out of your property. You can delegate tasks to a dedicated property manager, such as:
- Marketing
- Tenant screening
- Accounting
- Legal processes
- Following up on payment
- Repairs
Many such services also offer a centralized reservation system or have a great deal of experience in getting people into properties. You can then sit back and allow your investment to draw in the tenants.
Master Your Vacation Rental Property with a Professional Manager
These expert strategies can ensure you have the foundation of a successful vacation rental property business. Each tip reinforces what potential tenants expect from you and how you can meet those expectations. However, it may be worth talking to a rental manager if that is too much.
Contact PMI Realty Group Prettyman for a rental analysis to ensure you do everything possible to increase your property's turnover. Elevate your rental management game in Cleveland today.
