What Can Vacation Rentals Expect In the Coming Months

2020 wasn’t a good year for most businesses including vacation rental properties. Vacation Homes 365 witnessed a decrease in the number of guests. Some properties listed in VacationHomes365.com had no other choice but to stop rental altogether especially those that were located in places with a high number of COVID19 cases.

Many vacation rental owners are wondering what’s in store for the next months. Here are our predictions.

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Vacation Rentals Will Remain Closed in Some Areas

Let’s not forget that COVID 19 cases all over the world have different severities. Some have millions of COVID19 cases while others have it under control in just a few months.

Unfortunately, some areas will have to stay in lockdown. Poor contact tracing and the lack of testing may have brought this problem. On top of that, you can’t ignore the fact that some countries simply don’t have the medical infrastructure that can accommodate those who were infected.

Unfortunately, if you run your business in these areas, you will have to wait for it for a bit longer. There is a chance that you will have to wait until late 2021 before things will start to pick up.

There are instances when you might want to switch your business for now. Perhaps, cater your vacation rental property to those who are willing to relocate permanently or for a few months?

Adaption of The New Normal

The new normal is a term that has been thrown around quite a lot. For places that have a decreasing number of active cases, there is a chance that you might see vacation rentals prosper again. However, there is no way that things are going back to the way they were pre-pandemic. Property owners will have to implement rules and regulations that are adapted to the new normal.

It means that there will be a presence of sanitizers in almost every corner of the property. There is also a chance that property owners are going to have the property cleaned every now and then. And this doesn’t mean that you will just hire some cleaning company. You might as well pay for disinfection.

Also, gone are the days when people can share rooms. These days, vacation rentals will have one person per room. And on top of that, you might see the popularity of vacation rentals that have individual bathrooms per room.

Increase in Price

Given the adaptation to the new normal, you can expect the price to go high. This might turn some people off given that the price range may become closer to some hotels. However, given the fewer guests that you get in a vacation rental, there is still a chance that vacation rentals are going to be sought after by safety-conscious guests.

A Gamble

If you are considering entering the vacation rental industry, be prepared to find yourself doing a large gamble. You can’t be sure that you will be able to get an ROI from this venture any time soon. But does it show potential? It does, considering how much we’ve progressed since the pandemic started. We can expect vacation rental properties to boom any time soon once this is over.

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Reducing Fail Rate of Vacation Home Rentals

When dealing with vacation home rentals, you have to understand that there are still some risks that you will have to deal with. In most scenarios, not recognizing these possible threats to your vacation home rental business would simply mean that you are at risk of experiencing losses.

The first question is why stick to a vacation rental business in the first place? If you will look at Vacation Homes 365, there are a number of successful vacation home rentals in the market from all over the globe. The reason is that they are offering a home away from home. It becomes an alternative to a hotel. And often times, these vacation home rentals are better than your typical hostel despite that they usually have the same price point.

Understanding Your Market

Different vacation home rentals have different markets. If you look at the number of vacation homes in VacationHomes365.com, you will realize how it is possible to target a specific niche. Are you going to target families as your potential guests? Or perhaps, you are looking to get the market segment of solo travelers?
Depending on who you want to attract, you will have to go for different strategies. For instance, if you plan on attracting families, you will have to make sure that the property is family oriented. You might want to maximize the number of beds or even provide entertainment for children such as a TV and a good internet connection.

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On the other hand, if you are going to attract solo travelers, it is of utmost importance to make sure that the price is affordable. It is also a good idea to invest in bunk beds instead of allowing them to have an entire room for one guest.
If you plan on getting a vacation rental business, it is important that you first assess the situation. You want to also know if there are vacation rentals that are successful in your area. This could signify that there really is a market that you can go for.

Know Your Budget

You have to understand that there are properties that can’t be rented right away. There are instances when you need to invest a lot of money not only in renovations but also in the interior design of the property in order to attract those potential guests. In some instances, it is beyond what you currently have in your bank. If this is the case, then it isn’t a smart move to go for the vacation rental business.

Marketing the Property

VacationHomes365 has been able to market different properties for homeowners. You will be able to enjoy high traffic from people who are looking for a property to rent for the weekend or for a few weeks. This gives you the opportunity to earn some cash along the way.

Vacation Homes 365 helps clients how they can showcase their property using photos. With the right lighting and angle, it becomes possible for you to actually get your audience engaged to your property.

But of course, starting your vacation rental business is still risky. You have to be open to the possibility of failure.

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