How can I increase my Annual Vacation Rental Income?
Coco Plum Vacation Rentals is often asked by property owners what they can do to improve the revenues generated from their investment property in the Florida Keys. Over the years we have learned many of those secrets and want to share them with you.Secret #1: Presentation
Vacation rental guests will only see photos online of your property before they book. Therefore, it is critical that your property be 100% up to date in its décor and maintenance. If you put the old furniture from your primary home into your vacation home, you are not going to get any guests excited about staying with you. On the contrary if you utilized a professional designer here in the Keys that Coco Plum Vacation Rentals suggests, your home will look polished and appealing. Remember less is more, guests don’t want to see tons of knickknacks, personal items or cheap finishes. Keep it slick and simple, think upscale hotel.
Once you have the décor all set Coco Plum Vacation Rentals will hire a professional photographer to photograph your home with an eye for guest appeal. Their staff will be with the photographer and assist in staging the home for you.Secret #2: Amenities
The proper types of amenities can make or break your rental. Guests on vacation want to have all the conveniences of home and then some. In the Keys, for example, guests will expect to find a bait freezer at their Keys vacation home. Coco Plum Vacation Rentals keeps a standard items list that all of our property owners get to assure their rental property meets or exceeds a guests expectations.Secret #3: Pet-Friendly
Studies show that upwards of 25% of travelers want to bring their furry family along. If you don’t allow pets you cut substantially into your rental revenues. Coco Plum Vacation Rentals are experts in pet friendly accommodations and have policies in place to help protect our owner’s property from unintentional damages.Secret #4: Dynamic Pricing
The savvy vacation rental manager knows that having rates specifically targeted to seasonality, demand and day of the week will increase revenues. Coco Plum Vacation Rentals utilizes a scientific algorithm to set and modify pricing to make sure rates keep up with the changes in demand. Everyone is familiar with this if you try to book a hotel on a holiday weekend the rates will be much higher than during the week. That dynamic price fluctuation is just a small part of the algorithm used by Coco Plum Vacation Rentals to assure your property is renting for maximum yields.Secret #5: Advertising and Guest Friendly Websites
In today's market guests want the ability to search online, find a user-friendly website and book at their convenience. Coco Plum Vacation Rentals has the areas top Google ranked website for over 100 search terms. If you cannot find your managers website, guests cannot either. Once guests find our site, they consistently give us a 5-star ranking on ease of use. This equates to more bookings as guest do not have to submit a request and wait for a reply. Besides their own top-ranked website, Coco Plum Vacation Rentals, utilizes and integrates with other top sites like Airbnb, VRBO and HomeAway to name just a few.Secret #6: Owners Enjoyment
Let’s face it most owners buy a home in the Keys to enjoy it on occasion. At Coco Plum Vacation Rentals, we do not restrict our owner’s usage. But owners must be aware of what their use is really costing them in revenue loses. So, we work with our owners to balance their enjoyment with the peak income weeks.Secret #7: People Power
Never underestimate the power of excellent customer service in getting your home rented. At Coco Plum Vacation Rentals, we have some of the industry’s best and friendliest people on staff to answer our guest's calls and guide them through a reservation. All our staff are local to the Marathon area, love our islands and share that love with our guests.