In the spirit of the season, we have compiled 15 new year resolutions that Airbnb and short-term rental hosts might consider making as we move into 2024.
There is always room for improvement in the short-term rentals game – whether you are a new host or experienced property manager. And with guest expectations increasing all the time, it's important to constantly improve your offering.
So, with New Year's Eve just around the corner, here are some resolutions you might like to adopt when the clock strikes midnight on 31 December.
1. Enhance the guest experience
A simple one to start with. What can you do to enhance the guest experience at your property? You might invest in more amenities, add communication tools, or fix any maintenance issues.
To improve your communication, try using a digital guidebook from one of our sponsors:
2. Implement sustainable practices
A hot topic right now. Guests and some online travel agencies are starting to prioritise eco-friendly listings – and there are many simple things you can do to make your rental more sustainable. You could install energy-efficient appliances, implement waste reduction strategies, or encourage eco-friendly guest behaviour. Check out this article for inspiration: Tips to make your rental more sustainable. For more information, check out Sustonica (HCH sponsor).
3. Stay updated on regulation
Vital for everyone involved in the short-term rentals industry. With regulation continually being mooted and implemented across the globe, it is imperative hosts and property managers are aware of plans in their local area to ensure compliance and avoid potential legal issues. For more about the prospect of regulation, listen to our podcast with Merilee Karr, Chairperson of the UK Short Term Accommodation Association.
4. Diversify your marketing strategies
Are you maximising the number of eyeballs on your rentals? Do you have a direct booking website, a blog, and social media channels? Are you contacting potential repeat guests regularly? Do you have a newsletter? Listen to our podcast with Katie Bessant from The Holiday Hive for her top five marketing tips.
5. Invest in professional photography
It's the number one tip in our free e-book for a reason. The best thing you can do to attract more guests and ultimately increase occupancy and revenue is to take excellent photographs. Gone are the days when you can get away with snapping a few photos on your phone. Use a professional photographer with experience of shooting short-term rentals – and watch your bookings get a new year boost.
6. Start using a PMS
Looking to streamline operations? Adopting a property management solution (PMS) with a vast range of automation tools will help to improve efficiency and enhance the guest experience.
Check out these providers, which are all HCH sponsors:
For more information, check out our podcast with Hosthub CEO and Co-Founder Alex Caravitis. You can also listen to the episode featuring RentalWise Co-Founder Bryan Leblang.
7. Update your listings regularly
Keep your property listings up-to-date with accurate information, including amenities, pricing, and availability. If you are prioritising sustainability or have super-fast Wi-Fi, make sure you shout about it in your listing. Don't implement a positive change without telling your guests.
8. Focus on health and safety
Prioritise the health and safety of guests by implementing robust cleaning protocols, providing necessary health and safety amenities, and staying informed about best practices. If your rentals are based in England and Wales, make sure you adhere fully to fire safety guidelines.
9. Use a digital guidebook to enhance the guest experience
A digital guidebook will impress guests, boost sustainability (no more printing), and provide upselling opportunities.
Check out these providers, which are both HCH sponsors:
10. Optimise your pricing
Regularly analyse market trends and adjust pricing strategies based on demand, seasonality, and events to maximise revenue and occupancy rates. Use a dynamic pricing tool like Beyond (HCH sponsor) to help you hit the pricing sweet spot.
11. Expand to new markets
Explore opportunities to expand into new geographic markets or target specific niches to diversify the guest demographic and increase booking potential. Corporate bookings and mid-term rentals are the most in vogue right now – and you could switch your strategy to appeal to both of these demographics.
12. Collect and act on guest feedback
Encourage and actively seek guest feedback to identify areas for improvement and implement changes that enhance the overall guest experience. Take every bit of guest feedback as an opportunity to improve your business.
13. Invest in training for staff
If applicable, invest in training programmes for cleaning staff and property managers to ensure consistent quality in maintenance and guest interactions.
14. Attend events and network
Join local host communities, attend industry events, and participate in online forums to share insights, learn from others, and stay updated on industry trends.
Simple actions:
Sign up for the #HCHNewsletter
Listen to the #HCHPodcast
And make sure these events are high on your radar for 2024:
Property Investor Show (HCH sponsor)
SCALE shows (HCH sponsor)
15. Get the right mortgage
If you are purchasing a holiday rental or need a remortgage, make sure you contact HCH Financial Services. Its team of award-winning brokers have access to the very best products on the market and can also help with other products like life insurance and will writing. Give them a call on 0333 12345 36 or email advice@hchfs.co.uk.
What new year resolutions are you making this year? Let us know in the comments.
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