If you are a new owner of a beachfront vacation rental, you've made a smart investment that will bring in additional income and help minimize the expenses of property ownership. However, you need to stay vigilant and steer clear of the common mistakes that can adversely affect your investment. Below, three of these mistakes are explored in more detail.
What Mistakes Do Vacation Rental Property Owners Make?
1. You Rent at the Same Price Year-Round
Every beach locale has a peak season and an off-season. Vacation rental prices during the more popular times of year should not be the same prices you charge for the less popular times. This is a surefire way to discourage renters.
The off-season in the Gulf Shores area of Alabama tends to be during the fall and winter months. While these months still offer plenty of natural beauty and fun activities to partake in, the area is generally quieter during this time. Charging peak-season prices will turn off renters and keep your property empty, which could jeopardize your bottom line.
2. Your Listing Doesn't Encompass the Appeal of the Property
The property listing should be a priority to vacation rental owners. This is your opportunity to show the rental in its best possible light and appeal to as many renters as you can.
Take the time to craft a compelling and detailed description of the property and what it offers. Highlight its amenities and its proximity to various local attractions and services. Take eye-catching, professional-looking photos of the property. Always stage the photos with plenty of natural light to showcase its best features. Give prospective renters a full portfolio to browse and include every room in the house.
3. You Don't Promptly Respond to Inquiries
For a renter, planning vacation travel is a process that starts months in advance. Respect this process and your renters' time and interest by responding as soon as possible to all inquiries. Aim to get back to them within a day, at most. This shows that guest satisfaction is of primary importance, and it's a small step that can equal big returns on both your rental calendar and investment.
When you're in the market to buy a beach vacation rental, contact Coastal Properties. For over 15 years, they have been providing the Orange Beach, AL, area with stunning vacation properties for sale. They also offer property management services, with luxurious condominiums throughout the Gulf Coast region. Call (251) 981-4951 or visit them online to learn more about their current listings.