5 mistakes you should NOT make when you start managing a STR
As we told you in the previous post, managing a vacation property is not that easy, it seems but it is not. To effectively and successfully manage a home intended for tourist use, many steps must be followed, trying not to fall into errors or traps that the system itself can lead you to. That is why in this post we want to show you 5 of the most common mistakes that every host makes at the beginning of their foray into the world of vacation accommodation, and that sometimes drags on for many years, but today from Chekin, we will not allow you to happen.
1- Believing a multitasking host, the one who can do everything at the same time
DO NOT delegate or look for options.
The management of vacation rental apartments is a challenge for inexperienced owners, especially if they cannot dedicate most of their time to this task. Taking charge of the publication of the offer, the cleaning, entrances and exits, the needs of the guests and the maintenance of the property becomes impossible when it is not the only job to be carried out by the owner. Also remember that many tourists travel on weekends.
Do not make the mistake of wanting to do everything on your own, there are many options that help you digitize processes and that will make your life easier. From Chekin we show you many of them here.
2- Not optimizing prices according to the season
To get the most out of our property, we must apply optimization techniques: take advantage of high season to close or restrict discounts and sell our products at the highest price, apply a mandatory minimum nights on very specific dates, increase cancellation rates and increase the price of the rooms as the most demanded dates approach. You have to know very well what is happening in the city so as not to be clueless and get much less profitability than possible.
3- Lack of training or professionalization in real estate management
A vacation home manager must be someone comprehensive, who speaks several languages, who has cultural knowledge, such as being able to offer a guest an accommodation that makes him feel at home if we cannot communicate correctly with him? Preparation will always be an element that will open doors for you, and that also applies when the business is your own. So go for it.
4- Renting without a license or permit
A very common mistake of those who think that the vacation rental business is not that relevant. Complying with the regulations will not only prevent you from a lot of trouble, fines and unnecessary sanctions, but it can also give you benefits of the sector.
5- Not advertising your accommodation on all platforms.
As the old saying goes, “if it’s not on the internet, it doesn’t exist”. Most tourists looking for accommodation search through the internet on portals such as Booking, TripAdvisor or Airbnb. Therefore, the best option to attract clients is to publish the property in all the vacation rental portals.
In conclusion, these errors mentioned are the most common in the world of vacation rentals, errors that are permissible at the beginning but that over time if they continue to be maintained can be detrimental to your business, so get to work and if you still make one or more of them, do not hesitate to follow our advice and eradicate from your activity any mistake that does not let you move forward.
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