The vacation rental market is booming in the 2010s. What was once a rather small niche managed by real estate agents has become a booming business around the world. With the proliferation of sites like Airbnb, HomeAway, and VRBO, the whole process is now easy for renters and owners alike. However, in a market that is set to see a compounded annual growth rate of 7.07 percent through 2021, making your property stand out is important.
According to CNBC, many vacation renters cite cost as the reason they choose a private home over a hotel, especially for groups. However, this doesn’t mean renters have given up on luxury. Contrary to the “advice” on many sites, renters looking for lower prices still want the amenities and indulgences of a great vacation, and better decorated homes with quality photos almost always receive more inquiries and rentals.
Basic design is only step one, however. In addition to conscious, thematic, and on-trend décor and presentation, maintaining the promise of excellence once renters arrive is equally important. Added amenities and little bonuses not only attract first-time renters, but they encourage positive reviews and repeat business year after year.
So, whether you’re entering the vacation rental property market for the first time or trying to increase your bookings, keep in mind the importance of all the “little things” that make a renter’s stay better. Need help deciding? Take a look at the infographic below to see which items — big or small — can take your rental to a premium level to give renters the best experience possible.