Holiday Rental Marketing Series: Research and Plan

This two-part series brings together some of the best advice and tips for marketing your holiday rental.

With the rise of companies like Airbnb, the holiday rental market is rapidly growing and becoming more competitive, making it all the more important to ensure your property’s marketing is second to none.

Over the past 12 months, Australia’s short-term holiday rental supply grew 47%, adding almost 30,000 entire home rentals and earning AU$3 billion in revenue * , that’s a lot of competition!

So, how can you ensure your marketing cuts-through your competition and converts to bookings? Your holiday rental property should be treated like a business and, behind every successful business is an exceptional marketing plan.

Step One: Evaluate Your “Product”

Look at your property through the eyes of a holidaymaker, and be realistic!

Some properties are more luxurious with high-quality amenities, furnishings, décor and linens. While others are budget-friendly, and only include the basics, and that’s ok too- there is a need in the market for all levels of accommodation.

Tip: Think about the “under-promise and over-deliver” concept. At every level from budget to luxury, there would be something you could provide (or do) to go that little bit over and above. i.e., if your listing is luxury- you could provide luxe bathrobes and complimentary champagne, or for an affordable idea- is there a nearby cafe that you could team up with and supply a couple of coffee vouchers with each booking?

Step Two: Set Your Price

Research what’s already available in your area, and price accordingly. Could you be more competitive, without lowering your price? E.g., in areas of minimum nights stay? For example, the majority of properties in your area might have a minimum 2-night stay, though could there be a demand for business travellers that may only need a single night booking?

Step Three: Choose Your Listing and Management Portal

It’s no secret that Airbnb and HomeAway (including its subsidiaries) are the leading rental channels for holiday letting in Australia. Though there are a variety of channels available, the best way to increase your bookings is to get listed on as many as possible, simultaneously, and invest in a channel manager.

Tip: For a small percentage of your booking fee, you can streamline the management of your property as most of these sites include multi-channel and multi-calendar management, unified email inbox, automation, mobile app, branded booking website, reporting tools, analytics and payment processing.

Step Four: Consider a Manager

This depends entirely on your budget and your own commitments. Do you have the time or want to be cleaning the property each time someone checks out, or collecting and washing towels and linen.

There are professional linen and service companies who will come and change linens and do a quick clean up for you after guests have checked out, even if you only use them periodically when you’re not able to do it yourself.

Doing your research and looking into the above recommendations will ensure you and the property are ready when you go to list. Look out for part two (Marketing and Advertising) coming next month.

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