Specializing in the Rental Industry
Specialization in any industry or field takes a lot of time and effort, but what comes from it is very rewarding. Specialization in essence is what takes something ordinary and makes it extraordinary. The rental industry is no different — what makes your rental different and special? And why would someone want to rent with you over someone else? These questions are all things that you should be thinking about whenever making a decision about your business. The reason why people are choosing Airbnb and other OTAs over traditional hotels is because of the pure uniqueness of these properties. You go to a hotel, you know exactly what you’re getting, and it can be boring for some people. You rent a short term rental, and immediately you are part of the city where you are renting.
So the real question is what is your property bringing that no one else is? To answer this question, it can really be anything to do with your property or the actual rental process. Property location, property features, rental process amenities, and price are all things that can distinguish your property from others in the area. About two years ago, I went on a trip with some friends to Montreal, and we were debating whether we should rent a hotel or a short term rental. For us, we really wanted to be part of the nightlife in Montreal, so we decided to go with a short term rental. The property that we ended up renting was relatively small for what we were paying, but because of its relative location to restaurants, bars and clubs, we were more than content to rent that place. This is just one example of how you can market your property as ‘different’.
If you truly feel like there is nothing unique about renting your property, then you may want to review your rental process. Even small details like leaving a bottle of wine when you know that you are having parents with kids renting; these details make all the difference for guests. As well, if you are showing this effort, I can guarantee that your guests will have a great experience and will rate you highly.
Finding the features that distinguish your properties from others may seem like an unnecessary or even impossible task to complete. Once you run through your rental, it will not only run smoother, but will also be more welcoming for others. It is this that will set you apart from others, and that will allow you to keep your place booked.
