From Home you Can Market your Vacation Rental Property
June 23, 2010
I worked for other people for the first fifteen years before I realized we would never get rich like that. So I set up on my own. Then for the next fifteen years I was traveling the world, setting up companies, getting sales, handling finance with hardly any time to spare for the family. Had a wonderful time. I just wish I’d started earlier.
So I’d like to help others to start their business and here is a simple way to go about it.
We do it ourselves with a property of our own, and enjoy it, even though it is pin money for us now.
I run a free blog site to help vacation rental owners to market their property properly using the web.
Here is how to start your development.
Find an area where there is little property development, but a high tourist trade. We found the Highlands of Scotland. There is very little development there – difficult to get domestic water supply to this region, as rainy as it is.
Compare the high season rental income between different areas, and compare property prices between popular regions. You are looking for a reasonable income against a low property price.
We started it by looking through several tourist areas and comparing the vacation rental income. Strangely, the vacation letting rates were close to each other but the cost of buying properties was very different.
Then we had to think through the problem of managing a property at long range. You need people to do the cleaning for you, and you will definitely need builders and local suppliers. You’ll have problems if you cannot visit the site frequently. Best to try for your first property somewhere near where you live, within driving distance
Research the area
It is important to search for some national statistics about the tourism business, to find out how long is the season, and whether there is off-season business.
You need to research the area, talk to agents, lawyers, but remember they are selling you something – themselves. Better by far to talk to other owners and neighbors. You’ll get far more valuable information from them.
Market through the internet
Now to market your property through the internet.
First of all, behave like a customer and dial in a few search terms to find holiday properties like yours. See what turn up on the first pages.
The search terms that you and your customers use normally are vital to your web site design. The website url, title, description, and opening text on the index page, page one should all concentrate on your critical keywords.
Your area is a problem. If you choose “vacation property USA” your site will be on Google page 3,000 and no one will find you. It is a bit better if you say “vacation rental Florida” but the same problem applies. Better to go for “vacation property, Saratoga” You could get up to page 4 or 5 there. You can find and evaluate keywords if you go to “Google suggest keywords” and use the facility there. Also look at the Google advice to webmasters on setting up your site and making it suitable for Google. Their notes are easy to understand.
Vacation rental directories
There are vacation property directories. A few are free, and might be worthwhile as inbound links but they will not produce much in the way of bookings and referrals. They make their money in other ways, by selling advertising, or books or tours. Your mention in their directory is just a traffic builder for them, and a service for their site visitors.
Agencies
Some of them are agencies. These will take you on their books and do the marketing job for you but at a steep cost – 30% or more, commission, most of them. Take care with these, though you should experiment with one in the first year until you gain experience and can dump them later as your site builds up traffic. Some of them want to take all your high season period and market it, but give you no guarantee to get business. Bad news, this lot. You might find an agency which will let you market the high season yourself and just take the shoulder season.
You’ll just be another name on their books though, and they’ll put no real effort into selling your property. These agencies will not put a link to you on their own site – they prevent people from finding you direct.
But some vacation directories will do a good job for you if you pay them $100 or more a year for a good position. They’ll put on a photo of your site, sometimes more than one, and a description, a link to your web site and a straight through to you e-mail link.
Ring round some vacation rental property owners in other areas, non competitive with your area, and ask them on the phone for their experience of internet marketing. Some of them will be reluctant to talk, but at least a third will tell you how they do it and what works for them.
Finally you can select several good ones, which have been recommended to you and which seem to get high on many pages and use them.
Good luck. Within a few years you may have a big vacation rental company.
John
John Winkler
http://www.articlesbase.com/home-business-articles/from-home-you-can-market-your-vacation-rental-property-128175.html
Comments
8 Responses to “From Home you Can Market your Vacation Rental Property”
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In 2007, is it better to build or buy a vacation home? (Please Read Details – No "point snatchers")?
I am looking in to purchasing raw land on a lake with the plans to build a log cabin for a vacation property.
However, with the requirement for 50% down on land loans and the current housing market (buyers market) and interest rate plus the fact that the down payment can be as low as 10%, I wonder if it is more cost effective to buy a used cabin on a lake. I am thinking of renting out the property (new or used) to weekly vacationers while I am away in order to help offset the additional mortgage. I am looking for some advice from someone who has expereince in vacation rental property.
Point snatchers: Please don’t waste my time with your simple "build" or "buy" opinion – that doesn’t help. Tell me WHY.
If you’ve always had a dream vacation home in mind and can afford to build, then build. It may be your chance to design and develope your own viewpoint architecturally. But recognize that building takes time and means that you cannot look at the place as rental income for at least 2 years.
An option to save for building is to put a mobile home (like a cool airstream) on the land and build in sections. You can rent the airstream, especially if you market to artists and cool folks.
If you buy, you could use it as rental right away, usually. You’ll need someone to manage, unless you’re close by. (Renters can be heck on property.)
But if you go that route, you can pay the property off sooner, be saddled with less mortgage quicker and then consider saving to build your dream home.
Once again, either way, rental properties are a lot of work. You either need to be in the area so you can check it each time a tenant leaves or hire a manager, and that cuts into your profits.
References :
buy but delay
all indicators are that the mortgage mess will get tougher before it’ll get better and thus prices should become depressed (or depressed further) in another 6 to 18 months.
you’ll know the time is right when the price of existing property falls below the replacement cost [after accounting for a decline in land costs, too.].
GL
References :
market watching … no deals in sight to make me buy … yet
If you are strapped for cash you need to buy one already built. You won’t get a construction loan if you don’t own the land outright before building.
Also, you need to keep in mind that you can’t claim the house as vacation property (second home) if you rent it out. You have to get an investment loan and lots of insurance, as well as pay additional property tax to the county it is in, to make it a vacation rental. Unless you can keep it rented all of the time (like at Lake Tahoe) it is better financially to just claim it as a second home and not rent it out.
References :
That is such a great idea. I love Log Cabins and we are thinking about building one too, we are just waiting until Hurrican Season here is over.
I am a Realtor in SW Florida since 15 years and i deal quiet some with vacation homes. As a Realtor i would tell you pick one of the newer existing homes, because it will be ready to rent out in no time. You can remodell and modify the existing home and make it your style in your own time and in your own budget – you can do it piece by piece. Everytime you get there in your vacation you can try to start and finish one project. You are not loosing any tenants by doing that.
If you can find an existing log home in a location you like and a style which works for you – i would say that would be the most efficient way to go. Specially if you plan to rent it out.
As a privat person (not from Realtor stand point) i would probably like to build. Find my "dream location" and my "dream floorplan" and do it from scratch.
References :
This info are really simple and easy to try. I enjoyed reading your posts.You shared information that is valuable to me and some other readers. I believe all to be happy with this. Thank you for sharing with us the information.
If you have the knowledge and skills you can market anything from home. For property letting, a website with nice pictures etc works well.
Love your site man keep up the good work