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March 31, 2020

Managing A Short-Term Luxury Rental Property: A Beginner’s Guide

The short-term rental market is booming right now, and as such consumers are increasingly searching for properties that will give them the flexibility they need to see more of the world.

As the entire market rises, so too does the luxury sector, with many consumers searching for temporary properties that will offer them not only a roof over their head but also a decedent experience that they will cherish forever.

For property managers looking to move into this lucrative market segment, here’s our guide to managing a short-term luxury rental property.

Keep It Clean

Any premises advertised as ‘luxury’ needs to be kept at an above-average standard of cleanliness. This will ensure that not only does the property look and smell great but also that it can be shown off on social media by image-conscious travellers. It can be hard to organise the cleaning of your luxury rental accommodation yourself, particularly if you manage several properties, so work with Ideal Cleaning to ensure that your space is always clean and presentable. The firm has experience working with high-calibre clients across the hospitality market, so they know how to provide the level of service you, and your tenants, expect. Visit idealcleaning.co.uk to see their full list of high- quality services.

Advertise On Targeted Short-Term Rental Platforms

The growing demand for short-term rental accommodation has helped to facilitate a rise in platforms designed to advertise these properties. Not all of these sites are targeted at the luxury market, so it’s important that you restrict your advertising to relevant sites. If you advertise everywhere, then you will make prospective tenants believe that your property is not as luxurious as you want it to seem. Exclusivity is key to the luxury market; tenants want to feel like they’ve been specially selected to stay in your luxury accommodation, even if they haven’t been. By choosing a specific luxury platform to advertise on, you can give your property an air of superiority and scarcity.

Provide A Single Point Of Contact

When you first start to liaise with new tenants, it’s important that they receive the quality customer service they expect. Providing them with a single point of contact, who they can reach out to whenever they need anything, will make tenants feel valued and supported. It will also eliminate confusion and increase the speed and efficiency with which you can provide everything they could possibly want or need.

Add Luxury Amenities To Increase Bookings And Value

Luxury rental property customers are increasingly discerning, so it’s important that you provide them with the amenities they expect. In some cases, guests may even be willing to pay more money to rent a property with specific amenities. As a result, it’s important that you review the amenities that your guests want and try to provide them.

Managing a short-term luxury rental property requires dedication, an eye for detail, and exceptional customer service. This article should give you a unique insight into everything that goes into managing a popular short-term luxury rental property, allowing you to enter into your exciting new venture ready to achieve success.

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