Owning and operating a vacation rental can be tough. When you’re bogged down with traveler complaints, changes to listing sites, and a seemingly-endless list of maintenance to-dos, it can be easy to feel like ownership is a huge drag.
Everyone could use a reminder of the upside now and then! Let’s dive into the perks of vacation rental ownership that you may have forgotten during the most recent difficult patch.
Ready to remember why you love this business? Let’s dive in!
You Make Valuable Connections
Maintaining a vacation rental gives you a web of connections across the country – and sometimes the world – that you would never have otherwise. People use vacation rentals because they want a personal connection rather than a sterile hotel room.
They’re always grateful to find homeowners who provide them with a home away from home.
The relationships you build with your guests can lead to references and contacts in new cities. Evolve homeowner Aladdin Mozingo told us, “It’s like we become friends through email or texts with all the people we meet. We have friends in Boston now, and North Carolina.”
Those insights you garner from your guests can give you a better look into what they loved about your rental, and open up opportunities to see how other people are operating elsewhere in the world. That’s a perk no hotel manager will ever have!
You Acquire a New Set of Skills
Working in the vacation rental world gives you a very special set of skills.
Think about when you accidentally double booked, or when a pipe burst the day before guests arrived. You had to think on your toes, keep your overall strategy in mind, and be creative to come up with a workable solution.
Owners are constantly being handed strange and surprising problems to solve, including:
- Guest emergencies
- Scheduling problems
- Property issues
- Partner mishaps
Over time, vacation rental owners hone the skills that help solve those problems easily: organization, communication skills, and ability to work under pressure.
Those aren’t innate skills! Many people collapse under pressure, are unable to come up with alternative solutions when their go-to fails, or miss opportunities because they’re too afraid to handle conflict.
You’ll never be in that situation. Your cool head and creative problem-solving are a lifelong perk of vacation rental ownership.
You Know Everything About The Vacation Industry
You are an expert in vacations.
You understand how prices fluctuate, and you know exactly what time of year to get a booking deal. Your experience in creating rental strategies and calendar schedules has not only made you a better homeowner, but a master of vacation planning.
Knowing the ins-and-outs of vacation seasons and prices gives you an advantage when it comes to knowing how to time your trips for the best pricing and experience.
You’ll also never get caught over-paying for accommodation that doesn’t satisfy your needs. You have unique insights into the value of an accommodation, and you know the level of hospitality and the quality of amenities you should receive.
You know what a vacation is worth, where and when to find the best deals, and what you should be able to expect for your money. Those are skills people pay good money to have expensive travel agents provide for them – but you’ll always be able to take advantage of them for free.
You Get More Meaning From Vacations
As a homeowner, going on vacation gives you an even more meaningful trip experience. Not only do you get the perks of a vacation, you also get unique insights into how to be provide better and better experiences for your guests when you get home.
Hotel chains spend hundreds of thousands of dollars on consultants to tell them how to provide a better guest experience. You don’t need experts – you have your own experiences to guide you.
How did not having enough towels affect your stay?
How did finding a welcome gift from the owner make you feel?
Did you feel strongly enough about your stay to leave a review?
Along with souvenirs and memorable moments, you’ll take home a plethora of information from the guest perspective. You’ll quickly know exactly how to give your rental a little hospitality brush-up.
A further bonus: if you’re feeling like you’re starting to become disconnected with what your guests want in their accommodation? It’s time to take a vacation – for research, of course!
You Get a Home Away From Home
Not many people have a home they can escape to or a property they can fall back on. Even if you’ve never stayed at your rental, it’s nice to know that if something goes wrong – or you need a quick vacation – you have a fully stocked and furnished home to retreat to.
Your rental supplies you with more than additional income. It gives you true peace of mind.
Your rental also puts you in the enviable position of being able to lend a helping hand – and a home-away-from-home – to friends or family in a tough spot.
You’d be amazed at how many owners forget their vacation rental isn’t just a business – it’s a true pleasure. We hope this list of perks helps you to remember the joys of ownership!
Owning a vacation rental can be tough. It takes a lot of time to successfully market your property, keep your calendar booked, and stay up to date with traveler trends. With that being said, it’s perks like these that make it even more worth it. From your new set of skills to your new friends, the benefits of being a homeowner are unmatched in any other expertise.
Wondering if there’s a way to experience fewer of the inconveniences while enjoying more of the perks? Click here to learn how Evolve helps owners earn more income with less hassle.