A few days ago, I was representing a family that wanted to make an offer on a single-family home. As their Realtor, I asked the price they would like to offer. They suggested a
New Shifts In Short Term Rentals Every Owner Should Know About
Dated: April 13 2022
Whether you currently own a Siesta Key or Sarasota area short term rental properties or are considering if this is right for you, it's important to know how things have changed post-pandemic, and what you can do going forward to set yourself up for success.
Taylor Ammenities to the New Remote Workforce
Millions of Americans said goodbye to their 9-5 desk jobs in what was called The Great Resignation of 2021. In fact, Upwork estimaes that 1 in 4 Americans (26% of the workforce) will be working remotely by the end of 2022. They also estimate that 36.2 million Americans will work remotely by 2025. This shift brings new opportuntiies to short term investment properties as a new wave of traveler entered the market. With more people working remote than any other time in history, people are in search of flexibility to work from anywhere in the world.
Short term properties should tailor their needs to the professional digital nomad. Offering capabilities to easily hook up to a Zoom room or other online video platform along with a dedicated desk space that can be closed off from the rest of the home are highly desirable. This also includes high speed internet which can easily run video conferencing and other online streaming.
Some owners are taking things a step further and including large screen monitors, video rooms, and multiple desk spaces for children who are attending online school as well.
Adhere to Higher Cleaning Standards
According to Airbnb, adhering to a higher level of cleaning standards is the new norm that guests expect. Surveys concluded that it was the #1 most important consideration for a stay in 2021.
In fact, one of the most popular reasons guests write negative reviews is because of cleanliness. It could take months to earn back the trust of future travelers when a guest comments that they found a stain on the bed, a dirty dish, or hair on the floor.
It's crucial to hire a professional cleaner to care for your short term rental property. Find a company that specializes in short term rentals as they will be familiar with the standards travelers are searching for. Every Ascendia Group property is managed by professional housecleaners, so if you have any questions please contact our team at: (941) 306-4242.
Focus on 5 Star Experiences
It doesn't matter how pretty the photos of your property are, and how great the location appears to be, 3rd party reviews validate a future guest's decision to book a reservation.
Many people make their entire buying decisions based on reviews, so making sure you have some, and they are good, means everything to the success of your short term rental. Ensuring your guests have an amazing experience should be absolutely top of mind.
Sites like Airbnb and VRBO will send out requests to your guests after they checkout requesting a review. Personally asking for a review from your guests is also a great way to identify how to improve or if something needs to be repaired or replaced. If you get a negative review, look at it as a way to improve your property for future guests.
Hire A Professional Property Manager
This will. be your weight in gold. Having a professional manage your short term rental is key to taking the stress off your shoulders not having to deal with 24/7 emergencies, rent collections, guest check in/check out, housekeeping schedules, and accounting. It also allows your properties to be professionally marketed many times reaching an international audience of millions of people. This gives you the freedom in knowing your investment is being properly cared for and is producing an ROI. It allows freedom of not being constrained to be close to the property, so you have more time available to do the things you love.
If this article has stirred your interest in investing in the Sarasota, Florida area, contact one of Ascendia Group's expert real estate consultants at (941) 306-4242.
I have lived and worked in Sarasota for over 20 years. As a former corporate executive, I recognize the importance of accountability and a strong work ethic. In a real estate transaction, you are the ....
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