Advertising your vacation rentals online works and is most likely the best life line you have to keeping your vacation rentals booked - so DON’T stop now! If you stop putting gas in your car it will not run and the same holds true for your advertising efforts - no exposure equals no inquiries.
If you have to find a way to tighten your vacation rental operations perhaps you can look into reducing your fixed expenses of operation:
1. Check your fire insurance deductibles - a $250 deductible was the norm years ago, however, insurance companies often charge as much as 30% more for this than a $1000 deductible. If you have cash reserves set aside you may want to consider a $2500 deductible. Even if you carry the lower deductible and experience a claim, most companies will apply a surcharge. So you might want to insure for the larger catastrophic loss anyhow?
2. Check your cable, phone and internet bills for your vacation rental. Competition for your business has been heating up as more companies offer better discounts if you bundle your services for lower rates. Be sure to check those free 90 day sign up offers for movie channels - free for the 1st 3 months and then bang a jump of up to $30 to $50 monthly. Delete those extras that are just too darned expensive!
3. See if your utility companies offer budget billing. The company can take your total annual costs and average them out for you. This way you won’t get slammed in the summer or winter peak months.
4. Double check your listings with vacation rental sites to be sure that you are not over paying for extras like images, maps and such. Perhaps on the top vacation rental sites you need the base number of photos - make sure they are great and be sure to add your link to your website if allowed!
5. Pulling out the stops now - if you do not already clean your vacation rentals yourself, you have the time, energy, and live nearby - start cleaning your own rental? I told you this was pulling out the stops - so if this is like “no way” or not possible - just a suggestion. You may be able to save $100 to $150 each time you turn your vacation home.
6. Promote your vacation rentals on quality free internet services like Twitter, Wordpress, Craigslist and Furnishedhomes.com. (SNEEK PEAK - we’re in a redesign and basic listings will be FREE - details coming soon) The redesign is cramping my blogging! We often TWEET our new listings to the world as an added benefit to all.
7. Don’t forget your off line advertising! Print out a few of your listings from your vacation rental ads and post them in your local coffee shop or fitness center.
Be sure that you are offering the best vacation rental experience for the price. Cut costs where you can, but DO NOT stop advertising your vacation rentals. If you pull the plug severely on your online advertising you could be destined to go down the drain.
Last but not least, make sure your rates are set properly. See our recent vacation rental blog post “80% of something is much better than 100% of nothing!” Update your specials too!
Post your comments and ideas about saving money managing your vacation rentals here!
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