Maximising Income from Your Short-Stay Property: Tips and Strategies

Owning a short-stay rental property can be a fantastic way to generate income, but simply listing it on a booking platform doesn’t guarantee success. To really maximise your profits, you need a smart strategy that goes beyond just keeping the lights on. With the right pricing, amenities, and marketing techniques, you can ensure your property stands out in a crowded market and keeps your calendar full.

In this post, we’ll take you through practical tips and strategies to help you get the most out of your short-stay property—because who doesn’t want to boost their bottom line?

1. Setting the Right Price: Strategic Pricing for Maximum Income

One of the most crucial factors in maximising your rental income is pricing your property correctly. It’s not just about slapping a number on your listing and hoping for the best—effective pricing requires research and flexibility.

Market Research

Start by looking at comparable properties in your area. What are similar rentals charging, and how does your property stack up? Make sure you’re aware of what competitors offer in terms of amenities and location, so you can price your property accordingly.

Dynamic Pricing

Consider using a dynamic pricing tool that adjusts your rates based on demand, seasonality, and local events. This will help you avoid undercharging during peak periods and offer competitive rates during quieter times. By adjusting your prices automatically, you can maximise income without constantly monitoring the market.

Peak Season vs. Off-Peak Pricing

Take advantage of peak travel periods like holidays, school breaks, and local events by increasing your rates during these times. Conversely, offer discounts during off-peak periods to attract budget-conscious travellers and fill vacancies.

Weekend vs. Weekday Rates

Many travellers book short stays for the weekend, so why not charge a little more for Friday and Saturday nights? Offering slightly lower rates during the week can also encourage business travellers or retirees to book midweek stays, helping to fill your calendar.

2. Optimising Your Listing for Better Visibility and More Bookings

A great listing is essential for attracting bookings, but a great listing is one that not only looks good but also converts browsers into bookings.

High-Quality Photos

First impressions count, and nothing does the job better than high-quality photos. Consider hiring a professional photographer to show off your property’s best features. Well-lit, well-framed images of tidy, inviting spaces will help your listing stand out and can even justify a higher price point.

Compelling Description

Your description is your chance to tell the story of your property. Make it engaging and focus on the experience your guests can expect. Highlight unique features, like a balcony with ocean views or a cosy fireplace, and give guests a feel for the local area by mentioning nearby attractions.

SEO and Keywords

To ensure your listing shows up in relevant search results, use targeted keywords. For example, if your property is near the beach, include phrases like “beachfront” or “ocean view.” The right keywords can help your property get noticed by guests looking for exactly what you offer.

Regular Updates

Keep your listing fresh by updating it regularly. Add new photos, revise your description, and include information about local events. These updates signal to the booking platforms that your property is active, which can boost its visibility.

3. Enhancing Guest Experience to Boost Reviews and Repeat Bookings

Happy guests are your best marketers. Not only will they leave glowing reviews, but they’re also more likely to return—and tell their friends!

Welcome Packages

Create a memorable first impression with a thoughtful welcome package. It doesn’t have to be expensive—a bottle of local wine, a few snacks, or even a handwritten note can make guests feel appreciated and set the tone for a great stay.

Personalised Touches

Tailor your recommendations to your guests. If you’re hosting a family, suggest nearby parks or child-friendly attractions. For a couple on a romantic getaway, recommend a cosy local café or scenic lookout. These little touches show that you’ve put thought into their experience.

Fast Response Time

Be responsive! Whether it’s pre-arrival questions or a request for extra towels, a quick response can make a world of difference. Being available and helpful helps guests feel supported and leads to better reviews.

Excellent Cleanliness and Maintenance

No one wants to stay in a property that’s not well-maintained. Make sure your property is always sparkling clean and well-kept. Broken appliances or shabby furniture can hurt your reviews and lower your booking rate, so stay on top of maintenance.

Encouraging Reviews

After a guest checks out, don’t be shy about asking for a review. Politely remind them how much reviews help small property owners and how much you appreciate their feedback. More (and better) reviews will lead to more bookings and give you the chance to increase your rates over time.

4. Offering Special Amenities to Justify Premium Pricing

Guests are willing to pay more for properties that offer a little extra. Think about how you can enhance your property with simple upgrades.

Wi-Fi and Tech Features

Fast, reliable Wi-Fi is a must, especially for guests working remotely. Consider offering tech features like a smart TV with Netflix, a sound system, or a workspace with good lighting to attract remote workers and digital nomads.

Luxurious Touches

Investing in high-quality bedding, towels, and toiletries can elevate the guest experience. Small touches like extra-plush towels or a memory foam mattress will make guests feel pampered and justify higher rates.

Outdoor Spaces

If you’ve got an outdoor space, make it a highlight! Whether it’s a small patio, BBQ area, or a sprawling garden, ensure it’s clean, well-maintained, and inviting. A comfortable outdoor area can be a big selling point.

Pet-Friendly Option

If your property allows it, consider making it pet-friendly. Many travellers bring their pets along, and being one of the few properties that allows pets can open you up to a whole new market. You can even charge a pet fee to cover the extra cleaning.

5. Minimising Vacancies: Filling the Gaps in Your Calendar

An empty property doesn’t make you any money, so keeping your calendar as full as possible is key.

Last-Minute Discounts

If you notice a gap in your bookings, offer a last-minute discount to fill those dates. Some income is better than none, and last-minute travellers love a good deal.

Minimum Stay Adjustments

During slower periods, consider lowering your minimum stay requirements. Allowing shorter bookings can help fill vacancies, particularly during mid-week or off-peak times.

Offer Promotions

Special promotions like “Stay 3 nights, pay for 2” can entice guests during quieter periods. Promotions not only help fill empty dates but also encourage guests to extend their stays.

Target Different Audiences

Think about who your property appeals to. Families, business travellers, couples, or even niche markets like eco-travellers or adventure seekers? Tailor your marketing and listing to these specific groups to stand out from the crowd.

6. Expanding to Multiple Platforms for Increased Exposure

If you’re only listing on one platform, you’re missing out on potential bookings. Increase your property’s exposure by diversifying where you list.

List on Multiple Booking Sites

Expand your reach by listing on multiple platforms, such as Airbnb, Booking.com, Vrbo, and direct booking websites. More platforms = more eyes on your property.

Social Media Marketing

Use Instagram and Facebook to showcase your property. Beautiful photos, guest testimonials, and behind-the-scenes content can attract attention and build a following.

Google My Business

Set up a Google My Business listing to boost local SEO and improve your property’s online visibility. It’s free and can help potential guests find you when searching for accommodation in your area.

7. Managing Costs Efficiently to Maximise Profitability

While increasing revenue is important, managing costs effectively can also help boost your bottom line.

Reduce Utility Costs

Simple energy-saving measures like smart thermostats, LED lighting, and energy-efficient appliances can help lower utility bills, especially if your property is occupied regularly.

Smart Cleaning Schedules

Hiring a professional cleaner is a must, but manage the schedule efficiently. If guests check out in the morning and new guests arrive in the afternoon, streamline the cleaning process to avoid gaps in bookings.

Insurance and Protection

Make sure you have the right insurance coverage for short-term rentals. This will protect you from potentially expensive damage claims, saving you from unexpected costs.

Automating Processes

Use property management software to automate tasks like booking, guest communication, and check-ins. Automating processes saves time, reduces human error, and can help you focus on bigger-picture strategies.

Let Us Help You Maximise Your Income!

Managing a short-stay property can be a lot of work, but it’s also a fantastic opportunity to generate extra income. By setting the right price, optimising your listing, enhancing the guest experience, and managing costs effectively, you can turn your property into a highly profitable asset.

But why do it all yourself? At Esc, we specialise in short-stay property management. We handle everything—from dynamic pricing and guest communication to maintenance and marketing—so you can sit back and watch your income grow without the stress.

Want to maximise your property’s potential? Get in touch today and let us take the hassle out of property management. With our expertise, you can boost your earnings while we handle the details. Reach out for a quick and easy consult!