A vacation rental is a rented property of a furnished house or professionally managed resort for a tourist to rent on a temporary basis as an alternative to a hotel. Vacation rental homeowners have the option to rent their rental homes either as a short term or long term. Many people are looking for a place that is temporarily called home without signing a lease, and because of that long term vacation rental is becoming popular more. Also, this kind of rental offers a more stable income than short term.
Let’s look at the detailed information about long term vacation rental and compare it with short term how it benefits you more. The long term also needs to be advertised, priced and managed differently from short term.
Firstly, find out the differences between short term and long term so you can optimize your long term vacation rental in that successful way.
Short term rental vs long term rental
A short term vacation rental is that property rented for one evening or upto a week, and more than a week is known as a long term vacation rental. Port Aransas vacation rental is at the top for holiday destinations with fully furnished houses whether you are looking for short term rental or long term.
Short term offers more flexibility and more revenue, while long term vacation rental offers stability and less turnover. In the long term vacation, rental homeowners will find relief from keeping less professional housekeeping visits and also have to market less. They can even fill short gaps by marketing short term rental for an occasional night or weekend.
How can you advertise long term vacation rental?
The long term vacation rental targets the audience and market to snowbirds; it is used to describe a person who chooses to shift their location for two to six months. When the guest stays here for long terms, they should have a feeling of responsibility and pride and feel the ownership of the home for a particular amount of time. With this loyalty, they can come here year after year.
The renters are typically interested in lower prices, most have pets, so they look for a pet-friendly environment, convenient and quiet place with comfortable bedrooms. So to attract them more and make them decide a vacation rental homeowner should share bright and clear images of their space.
Most of the people who stay longer are married couples, age between 55 to 70 and 50% of them have dogs, so they wish and appreciate human contact and the host who is friendly, genuine and helpful to them. Many of the travelers book a year or more in advance.
There are many sites available like TripAdvisor, lakerentals.com and many more where they can list their house for long term vacation rental. Also, they should market on their own website and target the right audience with a proper ad campaign. Involve direct bookings for vacation rental and provide convenience to your guests.
Long term vacation rental vs long term rental
Many of them are confused between these two terms or else consider this as the same term. But both are different. A long term vacation rental is located near the tourist place, and most have on and off-season of travelling. At the same time, long term rentals include students or professionals or workers who are looking for a house on rent for a long term near hospitals, schools and colleges and offices.
An example is a room booked at Mayan princess for two months would be considered as a long term vacation rental where the price of rent can be changed according to its tourism on its peak or not. And when the season is off, they may have discounted rates, so it is based on the duration of the tourism season.
A family who wants to move near a school so that their child can easily go to school for a year then it is considered to be a long term rental. Here the lease properties remain the same and do not increase as per season or on its peak.
With long term rentals, the owners get a consistent, predictable cash flow and the property located in a great area can also increase in rent price every year.
How to decide the rent price of a long term vacation rental?
Owners decide the rent for this with the same strategy as they would apply in a traditional rental home, including the cost of the furniture. It is likely said the owners charge more when the guests are willing to pay like there’s a tourist season and they charge less when the guests are not willing to pay much and the season is off.
During the high season, the rents increase as the place is high in demand, and guests willingly pay higher than usual. When the season is low, and there are only a few vacational visitors the rent will be low, also the people who are travelling in the off-season looking for a good deal so they can’t pay you more.
Rent according to the value so make a balance between earning your profit and also providing guest affordable vacation rental so that they are with your values and can enjoy better and might visit for the next time too.
Conclusion:
Homeowners can find stability in finances when you manage your long term vacation rental property correctly, and also it requires less maintenance and keep up. With the help of these dynamic rent pricing and targeted the right audience for marketing, homeowners of the rental will get a property book for a year with no stress at all.
