More Money For Your Vacation Cabins
Vacation cabin owners across the country have one common goal--more reservations for their particular cabin or cabins. Most owners started in the same place. They were possibly buying a second home or vacation cabin. Some thought the vacation market would be an easy way to make extra money. Some potential owners might have been trying to reinvest an inheritance. Some just love the appeal of log cabins. Regardless, in the end all a cabin rental owners have the same goalÖmore money!
For one, after owning a cabin for more than a year they realize their cost predictions were probably off. I meanÖno one loves their cabins like they love their cabins. Guest treat their properties like a rental. Guest take things, break things, and typically pay little attention to the heart felt trinkets left by owners trying to create a rugged atmosphere for potential renters.
Second, they typically under estimate marketing expense or management fees associated with renting their cabins. In areas I am familiar with, most management companies take 40% commission fees for reserving and marketing cabins.
With that said, back to my original point--cabin owners want more money. They do care that guest have a good time, but if they have no money to maintain the property it wonít be a rental for long. By now, some might be wondering why anyone would want dive into the property management business? Have no fearÖlets walk through some steps to increase revenue for you rental cabins.
1. Use a well respected real estate agent when purchasing your property. They will give you a fair value estimate of the cabin you are looking to purchase.
2. Be realistic about what to expect. Sit down with a pen and paper and add up total expenses.
3. Your margins have to be right before purchasing your cabin. Donít expect to pay a premium for a particular cabin and think rents are going to cover cost.
4. Use hard wood floors instead of carpet. Typically hard wood floors handle wear and tear better than carpet.
5. Guests want things they donít have at home. For instance, include big screen TVís, hot tubs, game tables, and arcade games in your cabin.
6. Cabin locations are vitally important. Great views always book first. River, mountain, and city views are about the same.
7. Privacy is definitely what guest are looking for in a cabin vacation.
8. Private pools are huge! They are expensive as well, but should pay for themselves very quickly.
Sometimes it is very hard to admit that your personal property needs work. You feel like you have put your personal touch into your cabin and guest donít like it. It is very easy to take these suggestions critically. Unfortunately, business canít be personal and if money is involved it has crossed the line to business. If you are struggling with any of these issues, maybe you need to decide if your cabin is a vacation rental or an extension of your personal residence.
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