Purchasing villas in Bali is easy. But making profit as you put your Bali villas for rent? That’s another story. You might think that you need a business and marketing degree to yield success from your vacation rental, but it’s actually a lot simpler than that. You just need some clever marketing strategy, determination, and a witty brain to catch on opportunities. We’ve put up a list of quick fixes to help you increase your earnings and help you along the way.
Manage A Direct Book with Your Own Website
Don’t put all of your trust in your rental management business. If you don’t employ a management business, consider developing your own website. For anyone who wants to direct book more with their own platform, there are a plethora of options available. In under a day, you may construct a website with a vacation rental theme thanks to WordPress. Register your domain name with Godaddy, set up your hosting, create a WordPress website with the appropriate theme, and begin constructing yourself. No prior coding knowledge is required.
You may market your vacation rental yourself in a number of cost-effective methods (you’ll see that booking through agencies can easily cost you 15% commission for bookings alone). When you have visitors who have previously booked with you, you can easily get them to rebook on your own platform.
Planning Detailed Pricing for Your Bali Villas for Rent
Long-term rentals aren’t your competition as a vacation rental operator; instead, hotels and other comparable vacation units are. Get a feel of how much hotels and other vacation rentals in your area cost. On a nightly basis, look for a savings of roughly 20% compared to nearby hotels. Keep in mind that as you and your item gain traction, your pricing can and should grow. With few or no reviews at first, you’ll most likely need to tempt your first guests with low prices. You can boost your pricing to meet or slightly exceed neighboring competition once you’ve established validity through reviews.
Keep in mind that pricing of your Bali villas for rent does not end with your nightly fee. Your cleaning fee, additional guest fees, pet fees, and any other costs you levy are all included. Charge a cleaning fee if you want to, but don’t use it as a ruse to raise your charges. Keep your nightly rates transparent and price it based on your actual cleaning fees.
Behold the Power of Impressive Villa Decoration
You don’t have to decorate your villa to the nines to win guests’ heart. It’s as simple as equipping the Bali villas for rent with high-quality interior designs and decorations to give good impression for your guests.
To reap good profit, you need to seriously invest, too. That is only a logical continuation of the prior point. Purchase a good-looking TV, a good-sounding stereo, a gaming console for the kids, and super-fast internet.
Also, once you’ve purchased these, be sure to include them in the description of your holiday villa. When you explain that you have a Samsung 100-inch TV with BOSE surround sound and a PS3 gaming console, you can bet that at least half of your family has already decided to rent your apartment!
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Lure Guests with Longer Stays at Your Bali Villas for Rent
Turnovers, like long-term rentals, account for the majority of labor and expenditures in managing short-term rentals. Renting to ten guests in a month takes significantly more time and money than renting to a single guest for the full month, from cleaning to scheduling access with guests and addressing their inquiries.
Furthermore, brief bookings can cost you longer, more valuable engagements. When someone leases your apartment for one night, it precludes a potential two-week guest from booking it for that time period.
As a result, set your price accordingly. Charge a higher nightly cost for stays of less than a week, then give a discount to guests who remain for more than seven days.
Create A “Free Marketing” Spot or the Selfie Spot
Create a social media presence for your property and make sure you have a few fantastic areas for selfies. People enjoy tagging themselves in images taken in popular vacation places on social media. Your prospective future visitors include all of their friends or followers.