Do you have the empty calendar blues? Are you attracting too many opportunistic Discount Hunters? Is it all too much work and not enough profit?
Are you a short-term rental owner who wants to increase profits and attract more bookings? A professional audit can provide you with the insights and recommendations you need to achieve your goals and avoid empty calendar blues. Here are some case studies to illustrate the positive results that can be obtained through a professional audit.
Case Study 1: Increasing Bookings for a New Rental Property
Jasmine, a relatively new short-term rental owner contacted me for an audit of their rental property. This was a charming 3 bedroom colonial home in a semi-rural area but popular for weddings and family weekend getaways. She had struggled to attract bookings despite offering competitive prices and a great location. I conducted a thorough analysis of the property, area, listing copywriting, and photos. Plus, I challenged Jasmine by asking her what sort of business she was trying to create for herself and who she felt was going to best appreciate her home.
Everything in the house was lovely and yet the photos felt fairly generic. It was trying to appeal to everybody and yet it was appealing to nobody at the same time. I suggested a few tweaks. This included updating with professional photos to better reflect the location and her target audience. The instructions to her photographer included the mood and guest experience that felt authentic and special. The new photos included “moments” of how guests would spend time in the home – a bath filled with bubbles, a quiet reading nook complete with a glass of wine, and a cozy blanket. I offered some suggestions for suitable amenities such as a welcome basket and local guidebook. Also, I created an easy-to-follow schedule for continual tweaking of her listing copywriting to keep it fresh, seasonal and ranking high in the search algorithm. After implementing these changes, Jasmine saw a significant increase in bookings and positive reviews from guests.
(Do you want the photographer preparation guide? The new and improved updated version is coming soon! Stick around!)
Case Study 2: Improving Profit Margins for an Established Rental Property
Laticia, an established short-term rental owner, was struggling to maintain profitability despite a high occupancy rate. She seemed to be struggling with poor reviews and guests that just didn’t appreciate her or her home. She was doing most of her own cleaning and burning out but not charging enough for her time. For example, she was trying to be very accommodating and had been allowing guests to check in early or check out late for no additional fees.
I conducted an audit of the business systems and identified several areas where expenses could be reduced. This included combining utility payments and switching to a more cost-effective cleaning option. In addition, I recommended additional revenue options like charging for early/late check-in with the templates for messaging guests for the upsell allowing her to automate, save time and be consistent with her standard of service. We implemented a new seasonal pricing strategy to increase revenue without reducing occupancy. After implementing these changes, she saw a significant improvement in her profit margins but more importantly, she was able to claim back her time and she was able to fall in love with her business again.
Case Study 3: Attracting a New Target Audience for a Luxury Rental Property
Greg, a short-term rental owner with a luxury property on the beaches outside of Melbourne was struggling to attract bookings from a new target audience. He had been getting too many groups of hard-drinking middle-aged men who got together for golfing parties. These were often a problem as the amount of alcohol consumed created excessive garbage and quite a bit of damage.
I conducted an audit and identified several areas where the property could be updated to better meet the needs and preferences of some new target audiences. For example; wealthy women who want a quiet luxury retreat away from the city and/or romantic couple weekends. This included offering additional amenities such as spa treatments, in-house massage, as well as updating the property’s website and marketing materials to better reflect the quiet luxury experience.
After implementing these changes, Greg saw a significant increase in bookings from the new target audiences. He also adapted his marketing strategy to have higher weekday bookings. Plus he added an affiliate component so that he earned additional revenue when luxury packages were purchased.
Is an Audit for you?
Now how about you – where are you at and how could your business benefit from a professional audit? I can quickly assess where you might be leaving money on the table or where you could tweak your marketing to make sure you were attracting the right guests and filling your calendar.
An audit costs $336 USD and typically I can find you an additional $1000 a month in added bookings, cost savings, or new revenue streams. How’s that for a good return on the investment?
A professional audit or Power Hour with me can provide you with the insights and recommendations you need to increase bookings so that you have no more empty calendar blues, improve profitability, and attract new target audiences. These case studies show positive results. Don’t wait any longer, contact me today to schedule your own audit and see the benefits for yourself.
Welcome to the exclusive opportunity to chat with Tracey Northcott, a seven-figure Airbnb host. Spend an hour bouncing ideas, brainstorming, and picking each other’s brains to help elevate your short-term rental business.
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