How to get ready for STR peak season?

[Sebastian Giraldo]

The holidays are a long-awaited period for every business since it is the best time to maximize their return on investment, and vacation rental hosts are not an exception.

Therefore, taking action on planning a high season strategy not only will improve overall guests experience but will maximize the return if it’s done the smart way.

Three pillars for success:

There are many points to cover in order to prepare STRs for the peak season. To make it easy to comprehend, we will dissect these tips into three pillars:

• Pricing
• Guest Experience
• Cleanliness and Maintenance

Pricing

The holidays are the season of the year to charge higher rates for nightly stays and shatter previous income records. Consequently, the pricing strategy must be among the first things to work on to profit from it.

Make sure to compare with properties around the area to offer similar amenities or even better than the competition. Comparing also gives an idea of pricing.

Custom prices ahead of time

Smart travelers will book their stays in advance, hoping to find cheaper rates as they are farther from the check-in date. For that reason, on the host side, it is crucial to update the holiday calendar a few months ahead to avoid getting high season bookings at low season prices. Other hosts opt to block the date and wait until the peak season kicks off to sell at market price.

Benchmark the average nightly rate with similar listings in the area

If you are insecure about how much to charge, you can always compare with similar listings. A way of doing it is through a quick search on Airbnb, filtering the search with attributes that match. E.g., home type, room number, beds, amenities, and others.

Smart pricing

Booking portals like Airbnb offer a “smart pricing” feature that lets their algorithm decide the nightly rate based on the market. Even though this option seems to be convenient, there are some tweaks you have to perform, like determining low and high caps for the nightly rate. You do not want Airbnb to sell a nightly rate of $50 when you are offering an entire single-family home with tons of amenities included. It might be an exaggeration, but you get the point.

Attract customers with discounts

Discounts boost listing ranking in some booking portals. Airbnb, for example, includes a strike-through style in your price section. Such details can encourage more guests to book your place.

Mental note: lowering prices far too much may attract lower quality guests. Here is when the screening process comes into action to help you triage the ideal guest.

Extra fees

One of the biggest challenges hosts face in some booking platforms are additional fees. Some consider them too expensive and dissuasive since they impact enormously on the overall price of the booking. Be mindful of this, and look forward to adding the highest value to customers at a fair price.

Guest experience

Once a competitive price is set, the next step is to fulfil and exceed the average expectations. People are willing to pay more for their stays during the holidays, in return, they expect to receive an experience in correspondence with the price they paid. Here’s where the guest experience will make the difference for a 5-star experience.

Update the listing description

Holidays like Christmas and New Year transform cities and towns. New attractions open, festivals and events happen more often, and traditions attract visitors from everywhere. These are selling points for a listing, begging for inclusion in your description. Change the listing name and highlight the compelling aspects of the property, e.g., Modern apartment close to Christmas Market.

Refresh the pictures

Shooting a stationary session for the property could be an overpowering way to attract those guests looking for an “authentic” Christmas experience. Offering a unique climate with an emotional touch, not only will impress the visitors but will allow them an unforgettable holiday. Of course, some hundreds of dollars will need to be invested in amenities, decorations, and a professional photographer.

Increase booking conversions

Getting guests to send an inquiry is the first step in the sales funnel. To convert them into actual guests, improving your response time is a top priority. Thankfully, the totality of inquiries can be managed through a smartphone. Do not forget to communicate with a friendly tone and customer service oriented.

The downside is that it is hard to attend a high volume of requests for a single person. Hiring a property management company or partnering with a Co-Host could be a fantastic idea to keep your service standard during the high season.

Clarity on home rules

Set your expectations for guests and let them know what they can do and what they cannot do at the property. Effective communication will allow your guest to determine from the first moment if your home is suitable for their vacation. Make sure to communicate your position about reunions or "intimate dinners", as well as smoking. Print a frame with the five most relevant house rules and hang them in visible areas of the home.

Always prepared = always ready

The chances something can go wrong during the peak season are high. There might be some missing amenities or issues with the appliances. A guest can even ask about something they forgot to ask for during the booking process.

For all those instances, be ready to provide a quick on-site response. Such action could convert an unconformity with the listing into a 5-stars review.

Cleanliness and Maintenance

Never forget:

You are hosting the most meaningful 2-week vacation of the year for that special guest! Some travelers spend months planning a holiday getaway, expecting to forget the hustle and bustle of their busy itineraries. Any inconsistency can jeopardize the guest vacation and your reputation as a host.

Keeping the home clean and in top shape are game-changers elements in your hosting experience that will add tremendous value to your guest stay, adding an extra layer of comfort and safety to their holiday.

Here are some tips:

Perform an inspection

Before performing any action, inspect your property to identify which areas need more effort. Talk with a handyman/woman and a cleaning crew and ask them to go with you to the inspection. They know what areas to examine and what assets commonly get damaged by wear and tear.

Refresh the Home

Late in the fall season is the ideal time to dedicate some preventive love and care to the property. This will guarantee less issues, positive reviews, and no stress in having to fix, maintain or repair the property during the busy winter Holiday season. Practical items to care for are: loose hardware particularly on chairs, tables, or stools, a fresh coat of paint on walls and baseboards, loose drawers, fumigation, bed frames, new linen, loose ceiling fans, functional electrical outlets.

Deep clean

Now more than ever, cleanliness is crucial on every vacation Rental. For many guests, a clean home equals a safe environment. A deep cleaning will guarantee visitors feel safe while enjoying a fresh and tidy place. Besides the traditional aspects of deep cleaning — hardwood floor or stone floor polishing, carpet cleaning, dusting behind and under the furniture, window washing in the crevices, pressure washing, and vacuuming — focus on high-touch surfaces and sensitive areas like the bathroom and bedroom.

Do an inventory

Complete a list of your home assets such as the kitchenware, linen, towels, games, and other amenities, to know when to file a claim if anything is missing.

Getting your STR ready for the peak season is hard work, but it is worthwhile because your chances of increasing your return on investment will grow exponentially. Optimizing your vacation rental will allow you to raise your nightly rates significantly, earn more, and give your listing more reputation.

Are you ready for the high season? Let us know your tips and tricks in the comments down below!