Gulf Coast Property Management, is here to communicate on how to kick start your vacation rental campaign! Now, I'll throw the caveat in that not all Vacation Rentals or Seasonal rentals are the same. A condo perhaps on Longboat Key, where you can only rent it once a year, for four or five months, these tactics we're about to discuss wouldn't apply in that scenario. I'm talking about the vacation rental, where we're hoping for as much occupancy throughout the year as possible.
Whether that be weekly or monthly rentals, where we are a true vacation rental of the sort that you would see on perhaps VRBO and Airbnb. When we have that type of property, the most difficult thing we have is getting exposure and getting the property noticed. If you've ever looked for hotels yourself, or have been shopping on Amazon, if you ever see a new product that hasn't got any reviews at all, you may be a little suspicious of that product or service, or the hotel. The same thing applies to vacation rentals, people are very cautious about how they spend their money and they don't want to necessarily take a risk when they're booking a property. That's why we must get quick occupancy in your property, so we can generate those born five-star reviews, which then gives future guests in the property, the confidence that the property is legit, and is going to be a good fit for them and their family. So how do we do that?
Now, we're not typically a company that suggests deductions and discounts are the way to go, but in this scenario, our strong recommendation is that we offer an introductory discount. We take some of the rates we've talked about with you as the suggested rates for the property, and then we put a discount on it, to entice people who are prepared to take a little bit of a risk, not knowing everything about the property, not being able to validate the property reviews. They're prepared to take the risk because they've been enticed by a discounted rate. Now, once we've done that, we follow up strongly on these guests, we get reviews from them, and then we start to push the price back up.
That's how we onboard our vacation rentals and it's been a very, very successful strategy for us as we bring on the properties into our portfolio. If you have any questions about vacation rentals and how we manage them, please get in contact with us at 941-782-1559.