Raise your hand if you’ve ever felt stuck determining prices for your property rentals. An effective solution is to use information from the best in the vacation rental industry, Rented.com!
Today, we discuss optimal performance in revenue management for property managers with Amber Knight of Rented.com — a revenue strategy business that helps property managers and realtors earn more with less hassle.
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Short-Term Rentals for Long-Term Success
Amber is VP of Consultant Services at Rented.com and is an award-winning growth leader with a proven track record of maximizing acquisition revenue while minimizing downtime.
What most property managers don’t know is that there is something called Revenue Management Services that helps make driving revenue much easier and achievable for property managers.
Educating people about Revenue Management Services (RMS)
Revenue Management Services helps property managers strategically price their properties in a way that maximizes revenue and is attractive to guests.
Strategists at Rented.com will go through and make sure every single night listed for vacation rentals is priced at the optimum rate. This service helps renters achieve their strategic objectives as well as making sure that that listing is marketed in such a way that is attractive to guests.
A benefit the vacation rental industry
Rented.com’s top-tier service includes ‘Rented Research,’ — a service they offer for in-depth market research and strategic planning.
The 2020 Rented Report has just been released on Forbes, USA Today and WSJ. This report is the next generation of home price indexing, forecasting, and analytics, to take this annual report to an entirely new level.
Strategic considerations when considering short term rentals
- Rules, restrictions, and regulatory landscapes
- Fly-to vs Drive-to properties: A drive-to market is more resilient than a Fly-to market, however, Fly-to’s will get you more revenue.
- Diversification: if you can get international and domestic guests, that’s a really great market to be in.
- Supply and demand
- Matching the property with the vacation experience that the guests are looking for.
- Hospitality: your outstanding services will make guests come back.
HOT TREND FOR 2020: Places in the mountains are performing better — as people are really into isolation and relaxation
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