How to address owners who have concerns that their property is not renting.
How to address owners who have concerns that their property is not renting.
Thank you for your inquiry. We recognize that it is natural to feel anxious when your property's bookings slow down. Rest assured that we conduct weekly reviews of all properties, closely monitoring their performance. These regular assessments allow us to identify trends, address any issues promptly, and provides valuable insights into how your listing is performing compared to similar properties in your area.
Your property is automatically included in all current discounts and promotions available on our partner sites, our website, and through our call center, unless you have specifically requested otherwise. Additionally, our marketing team is proactively reaching out to previous guests via email campaigns, engaging on social media, and sharing updates through our ACME blog. We are committed to employing every strategy possible to maximize your booking opportunities.
We are still experiencing a "buyer's market" in the valley, characterized by an abundance of inventory and fluctuating demand. Potential guests have a wide selection of homes to choose from, including properties that may have previously been outside their typical budget range. Additionally, most visitors to Palm Springs are repeat guests who return to the area multiple times each year and are well-acquainted with the city. As a result, homes located in outer neighborhoods are facing decreased occupancy and lower rates as they compete with discounts being offered by properties in more sought-after areas. Returning guests are often aware that the north end of Palm Springs experiences more wind. Consequently, when selecting accommodations, they tend to prioritize homes further south, with pools that receive ample sunlight, typically those oriented towards the south or west. As guests gain more experience with the area, their preferences become increasingly specific. Properties that include extra amenities are generally more appealing to potential guests, particularly when their rates align with those of similar listings in the area.
We utilize a dynamic pricing tool called Wheelhouse, which helps us to secure the most competitive rates based on real-time market data. This advanced platform analyzes various factors such as local demand, seasonal trends, historical performance, and competitive pricing to recommend optimal rates for your property. By leveraging this data-driven approach, we can adjust pricing dynamically to ensure your property remains attractive to potential guests while maximizing your rental income. Wheelhouse also allows us to set custom pricing strategies tailored to your property’s unique features and market position, ensuring that we remain competitive in an ever-evolving rental landscape. With these insights, we can make informed pricing decisions that align with market conditions, ultimately enhancing your property's visibility and booking potential.
Consider making your property pet-friendly if it isn't already. This change can significantly boost the visibility of your listing to potential renters, as many travelers prefer to bring their pets along. In fact, properties that do not allow pets are filtered out of search results when guests specifically look for "pet-friendly" options on booking platforms. By accommodating pets, you can attract a larger audience and increase your chances of securing bookings.
To provide you with a clearer understanding of your property's performance, we have included your current projections versus the actual booking numbers. This will help you assess how your property is doing relative to expectations and guide any necessary adjustments moving forward.
ADD INDIVIDUAL OWNERS PROJECTION VS ACTUAL HERE