While the vacation rental industry has been greatly impacted by COVID-19, now is the time for us to stay calm, thoroughly assess the situation, accept uncertainty, and do our best to plan for the future. Based on recent events, there a few things we can expect and considerations to keep in mind moving forward.
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So far Jess Lerner has created 32 blog entries.
Risk and uncertainty are two often confused terms in business. Risk is measurable and you can predict the possibility of a future outcome. With uncertainty, you cannot predict the outcome. The good news is, there are ways to deal with and manage uncertainty and even grow your business in uncertain times. Here are a few tips!
It’s a fact of life… unexpected things happen. If you own or manage vacation rental properties you will experience common occurrences like damages, thefts, and cancellations at some point during your ownership tenure. These types of issues are typically not covered under standard homeowners insurance. For this reason, as a property owner or manager, it’s well worth the investment to purchase vacation rental insurance for your properties. Most importantly, vacation rental insurance protects you from the risks associated with short-term rentals.
From Vacasa's founder, Eric Breon, stepping down to the OTA's voicing their disapproval of Google's vacation rental ads to the coronavirus's impact on travel, it has been an interesting month for the vacation rental industry.
Whether it's Graceland, The White House, or the Winchester Mystery House, naming homes isn't new. It is a romantic practice that has its roots in old Europe. While it seems to have lost some appeal in recent years, it is a practice that still matters, and can help you to create a memorable, impactful brand. Naming your vacation rental is not only important, but it is also important to do it right. The right name can have a huge impact on your rental success!
The vacation property rental space is getting more crowded and more competitive every year. As more property owners and managers continue to enter the space, standing out and differentiating your brand and OTA listings from those of your competitors becomes critical to success.
Travel activities, tours, and attractions are more popular than ever. This is great news for property managers since there are many ways to use experiences to grow your business. Phocuswright’s data shows that 80% of U.S. travelers participated in a tour, activity, or ticketed attraction on their last vacation. With such high participation, there are many new opportunities for vacation rental property managers to get involved with activities.
The year started off with Tripadvisor's brand transformation and changes for Viator, VRM Intel Live, and Airbnb hiring a former Disney Theme Park Executive. Check out January's highlights here.
If there is one certainty in the online travel space, it is that it’s constantly changing, evolving and becoming more challenging for independent property owners and managers. One of the biggest game-changing happenings in 2019 was Google entering the alternative accommodations space with Google Travel.
See event descriptions and mark your calendar for can't-miss vacation rental industry conferences like VRM Intel, NWVRP Annual Conference, OPMA Spring Summit, VRMA Spring Forum and more. Get the insights you need to drive your business including revenue management data, traveler trends, marketing, and operations...