Top 10 Ways to Improve Rental Income 1. Post on Vacation Rental by Owner Websites. There are many different websites out there for owners who wish to rent out their property as a Costa Rica vacation rental. Two of the most popular for Costa Rica are vrbo.com and homeaway.com.......
All of these require some sort of fees but typically the companies offer a guarantee that your property will bring in much more income than what they charge. 2. Make Your Own Website.
Really no excuse not to have your own website which advertises your property in Costa Rica. Think of it as a business card or online flyer for your property. The website doesn’t have to be fancy or have a lot of SEO tied in, a simple website can be built for less than $200 or in some cases for free! The site can be used as a terrific tool whenever you want to send someone more information or booking details.
3. Great Photos
Sounds simple enough, but when it comes to real estate and vacation rentals it’s often ignored. Stage your property well, take professional photos and make sure you have pictures of every room. 4. Adapt Your Rate
Vacation rentals in Costa Rica tend to fluctuate. Flights, economic conditions, hotel promotions and just general competition can effect rates at any time. If rates might be lower than the past don’t hold out for them to come back, instead adapt and make sure you are at an attractive and affordable rate.
5. Consider Long Term Rentals
Some people dismiss long term rentals because they don’t command as much as a nightly rate, that could be a missed opportunity. A long term rental might bring in less, but it can be less work, less headache, and is great way to guarantee an occupied property.
6. Use Social Media
Costa Rica is a destination that everyone is always excited to talk about. Using resources like Linkedin, Facebook, Twitter and countless others is an easy way to get the word out and promote your Costa Rica vacation rental to friends and family.
7. Great Beds
Make sure you have comfortable beds, pillows, and linens in all of your bedrooms. A guests sleep experience will make a big difference on whether or not they book your specific property for their next trip.
8. Be Negotiable
Everyone wants a deal, always be open to negotiating the rate with clients. If you have a property manager working for you make sure they are doing whatever they have to do to not lose a client who inquires on your property. There are countless companies and clients who refuse to discount their rates, which often leads to missed opportunities.
9. Collect a Database of Clients
One of the most amazing things about Costa Rica is the amount of people who fall in love and repeatedly return. Many guests who have a great experience return to the same place they rented before. It’s important to make a database with all the people who rent from you so you can contact them once or twice a year to see if they’d like to plan another vacation and stay in your place again.
10. Buy Right
If you are working with the right realtor in Costa Rica, he/she should be able to guide you through the process before you purchase, highlighting and helping you understand which properties are best for vacation rentals. Location, view, amenities, management, are all key to success with your property in Costa Rica. Many times people think they can make things work on their own, but choosing the right property is critical and an experienced and sharp realtor will help you more with that process.
If you would like more assistance with vacation rentals or real estate in Costa Rica please contact David Karr, direct at 707.962.4482 or email here.
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