Creating the best possible guest experience is the key to sustained success for your short-term rental property.
This is because fine guest experiences lead to raving reviews, which drive more bookings, which result in higher occupancy rates at superior prices and ultimately higher returns for owners.
Top rated homes generate, on average, 230% more revenue compared to average homes. So this virtuous cycle, stemming from ensuring a superior guest experience, really pays off in the long run.
We’ve learnt that a key component of a great guest experience is providing a well-maintained and updated property. In an increasingly competitive market where options for guests are plentiful, they want to stay in properties that are at least as good as what they have at home, but ideally better. People invest a lot in these experiences, so properties that can deliver on this will rise to the top and take the lion share of bookings overtime.
Contrary to this, poorly maintained homes experience significantly more complaints, bad reviews and increased refunds to guests. This has a devastating effect on the owner's bottomline.
This is why proactive maintenance and efficiency to resolve ad hoc problems should not be viewed as a burdensome expense but rather an investment in the capital preservation and future income of the property.
When the guest experience is prioritised everything else falls into place. This is why it’s the ‘big domino’ because it makes everything easier.P.S. If you want help to create great experiences in your short-term property, click on this link to learn more about Euphoric Leisure’s super convenient rental management solution.