Summary: In this article we are going to discuss how to make your short-term rental stand out and why it’s important! You want your property to not only be the one that guests choose time and time again, but the one they rave about to family and friends. Make your property the jewel that stands out, no matter where it is located!
[Disclaimer: We are not accountants, lawyers or financial advisors, so please consult your own team of professionals about the topics covered in this article.]
If you own a short-term rental, also known as short-term rentals, my guess is that you’re not doing enough to make it stand out.
How do I know?
Just browse the listings on Airbnb or VRBO and see how many jump out at you as truly unique or remarkable. Probably only a few.
So you might be wondering, what does it mean to stand out and why does it matter? That’s what we’ll be diving into in this article.
What Does it Mean to Make Your Short-Term Rental Stand Out?
I don’t know that anyone has defined what it means to “stand out,” but from our perspective, standing out means that if a guest has several properties to choose from, they’ll choose yours over the competition the majority of the time.
There are several ways to stand out. I’m going to describe a few examples but there are probably many other ways to stand out. The options are only limited by your creativity.
For example, you can stand out on quality. Maybe your property is high-end, with truly stunning decor.
Another way to stand out is to be truly unique. An example is a themed rental. A themed rental is where you pick a theme. For example, a dinosaur theme. Create an immersive experience to make the guest feel like they are living among the dinosaurs 60 million years ago.
You can also stand out on price. Have you ever chosen a place because it just fits the budget? I think we all have.
One last example is a place that stands out because of the sheer number of 5-star reviews and few if any negative reviews.
Why is it So Important for Your Short-Term Rental to Stand Out?
If your property is the only option in town, you can probably get away with not having your property stand out. We’ve stayed in some sleepy towns with only one or two options and we were unimpressed to say the least.
But with short-term rentals becoming increasingly popular, standing out becomes that much more important. Your profits depend on it!
Be sure to download our FREE short-term rental cash-on-cash calculator below to ensure you are getting the maximum profit for your STR!
It’s also important to note that sustaining your efforts over the long haul is probably more important than getting a great start out of the gate. In other words, your property may stand out in the beginning but if you remain static and don’t keep an eye on your competition, your property may lose popularity and your profits will erode over time.
Do This One Thing to Make Your Short-Term Rental Stand Out
We often get asked the question, how do I make my property stand out?
We think it boils down to one thing: constant and never ending improvement.
In other words, standing out is about constantly working on your property. Ask yourself regularly, how can I make my property stand out?
It’s not a question we can answer. Only you know what’s potentially unique about your property. In other words, the features you can take advantage of to make your property stand out.
For example, maybe you have a detached garage. At first, you might make it into a game room or a space for families to gather. Over time, maybe you add additional bedrooms by building a second level. This would allow you to sleep even more guests.
With each successive improvement, you’ve added features that make your property stand out even more.
In Conclusion
You want guests to choose your property over the competition. Find the best way to be unique in your specific market. Whether that be by the theme of your short-term rental, the particular features your property offers, or the price. Never become static with your property! You are constantly evolving as a person, so make sure your short-term rental is as well.
Want to learn how to build a significant source of income from investing in short-term rentals while reducing your taxes? Join us in our course Accelerating Wealth. Accelerating Wealth is so much more than learning to “run the numbers” on a property. We also cover ways to run your STRs like a pro, including ways to make it stand out from the competition.
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