No matter if you’re an avid fan of social media and you’re always up-to-date on the latest trends or you’re more of a late adopter who only browses social media occasionally, there’s one thing we can all agree on: a social media presence is important in just about any business nowadays, and that’s also true when it comes to the vacation rental industry.

Getting a bad review as a vacation rental owner is no fun at all. However, what most owners neglect to think about is that bad reviews can be good for you in the long run, because negative feedback gives you a chance to improve. Don’t forget that negative feedback also gives potential guests a chance to see whether or not you have a professional attitude.

Almost nothing matters more than price in our world, and the same can be said for the short-term rental market as well. More often than not, potential guests will take price greatly into consideration when making their vacation rental choices, and it’s important as a short-term rental owner to keep up-to-date on the latest changes in the market prices to stay ahead of the competition. That’s where dynamic pricing comes in.

The last few years have seen a surge in the number of short-term rentals available–by AirBnB’s latest estimate, there are over 6 million listings from around the world on the platform, and that number is growing every day.

Wading through the array and variety of listing sites available is one challenge facing short-term rental owners. Maximizing your distribution is the best way to ensure you get as many eyes as possible on your listing, but it can be time consuming and difficult to post your listing on such a wide variety of sites.

Starting your own short-term rental business can be a challenge on its own, but trying to stand out in such a competitive market adds another layer of difficulty to the whole endeavor. 2022 was a huge year in terms of supply gains in the short-term rental world, and competition has become more fierce than ever before, meaning that owners are deciding to take steps to get an edge.

National and local events are always good excuses to travel, and there’s a reason why certain dates are some of the most-coveted for travelers–they want to be where the action is. For example, KeyData reports that during Super Bowl weekend in 2022, both occupancy and nightly rates jumped when it came to booking this key weekend.

Market downturns are terrifying for vacation rental owners. Things could be going better than ever with your short-term rental business and then, all of the sudden, the market changes and you find occupancy and revenue dropping lower than it ever has before. The key thing to remember, however, is that these downturns tend to be fairly temporary, and if you can get through them and come out the other side, your business will be all the stronger for it.

Smart home technology has revolutionized the way that homeowners oversee their properties, and these nifty gadgets have taken the vacation rental industry by storm. Not only can smart home devices enhance your property’s security and make life more convenient for guests, they can add more long-term value to your home, since most of these installations are permanent.

For short-term rental owners, pricing your property can be one of the toughest parts of setting yourself up for success. While many owners may opt for the simplest strategy, like setting one price and forgetting it, this can mean losing out on a ton of revenue and bookings. If your average nightly rate is too low, for instance, you might not even be able to cover your operating expenses and make a profit. While if your price is too high, you won’t be getting the bookings that you’d hoped for and will lose out on the revenue you expected to make.

At LocalVR, we don’t just look at the short-term. Instead, our view stretches out far longer than that–we strive to establish and maintain relationships with our clients through the years, not just for a few months. In order to create that kind of connection, the 4th pillar of the 4 Pillars of Property Preservation is our commitment to Value Alignment. Aligning our values with our owners and our guests helps us provide a sense of satisfaction to those who have entrusted their properties to us.

Furnishing and styling a vacation rental is not as easy as it may seem from the lens of an outsider to the short-term rental world. It’s more than just finding random art or picking matching furniture sets–there’s a balance to be struck.

AirBnB has reigned supreme in the vacation rental industry for some time now. There’s little argument that becoming highly-ranked and visible on this site is a huge determining factor in jam-packing bookings on your short-term rental. Unlocking the secrets behind the search algorithm on AirBnB can turn into a puzzle, but there is one way to improve your visibility: becoming an AirBnB Superhost.

Technology fuels innovation, and here at LocalVR, the vital importance of technology cannot be overstated. That’s why the 3rd (and perhaps most critical) pillar of our 4 Pillars of Property Preservation is focused on the technology that drives our expert property management services. Automation not only ensures that our team (Pillar 1) and systems (Pillar 2) work together for the betterment of your property, it also allows us to improve our overall efficiency and gives us the ability to provide even more value for our property owners.

In the hospitality industry, the process of upselling services and experiences to guests has long been known as a way to not only enhance guest experience but also to increase the amount of revenue earned from each guest booking. Now, savvy short-term rental owners are hopping on the upselling train to stand out from the competition and improve their bottom line. At the same time, upselling creates a more guest-focused stay that can lead to a plethora of positive, five-star reviews and return bookings.

In our 4 Pillars of Property Preservation blog, we took a look at how each of the 4 pillars uphold LocalVR’s promise of property preservation and provide long-term value to homeowners.

In our overview of the 4 Pillars of Property Preservation, we took a broad lens to examine how each of these pillars uphold LocalVR’s foundation to preserve long-term property value for the homeowners we serve while maximizing revenue on their real estate investments.

The vacation rental industry is booming, and many homeowners in popular destinations are capitalizing on this opportunity to put their homes on short-term rental sites. But with so much competition out there hoping for a slice of the vacation rental profits, it can be difficult to stand out on sites like AirBnB and VRBO, especially if you’re doing all of the work yourself.

When you make the leap towards purchasing a short-term rental property and see big returns in a short amount of time, it can be tempting to want to purchase a slew of homes to maximize your revenue. However, there are a few pros and cons to owning multiple vacation rentals–it’s not an easy endeavor, by any means, but it can be rewarding.

Are you a vacation rental host looking for unique and interesting ways to boost your bookings and earn more revenue? AirBnB Experiences are created and led by hosts in order to provide guests with a taste of the local flavor that may not be available on most tours.