Julie Davies - Vacation Rental Management 411: A Comprehensive Overview of Best Practices for Renting a Room or Home to Guests for Profitable Short-Term Stays.

Vacation
Rental
Management

A Comprehensive Overview of Best Practices
for Renting a Room or Home to Guests
for Profitable Short-Term Stays.

Julie Davies and Breanne Ellis

VACATIONRENTALMANAGEMENT411

A COMPREHENSIVE OVERVIEW OF BEST PRACTICES FOR RENTING A ROOM OR HOME TO GUESTS FOR PROFITABLE SHORT-TERM STAYS.

Copyright 2018 Julie Davies and Breanne Ellis.

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.

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ISBN: 978-1-5320-5280-4 (sc)

ISBN: 978-1-5320-5281-1 (e)

Library of Congress Control Number: 2018907195

iUniverse rev. date: 07/10/2018

CONTENTS

When I am asked how the idea for this book came about, the simplest answer I can provide is this: Because theres a need. While this answer is short and sweet, it couldnt be more true.

More and more individuals are renting out their vacation homes or bedrooms on a short-term basis (STRs), and more and more travelers see this as an affordable and exciting option. In many cases, its a positive experience for both parties. However, sometimes it can be disappointing for the guest or disastrous for the host. How many of us have heard stories from friends and family members about negative experiences from a stay at a short-term rental home that was ill-equipped, poorly maintained, or just plain sketchy?

Conversely, from a homeowner standpoint, Ive heard countless stories about kind people whose beautiful homes are not securing the bookings they need in the sea of vacation rental options. Those receiving reservations are having an increased challenge to ensure that guests behave properly while staying in their STRs. Additionally, many are unable to obtain good reviews or repeat bookings because they arent equipped with the tools they need to create a positive and inviting experience for their guests, along with a streamlined hosting experience for themselves. And many hosts are not able to obtain an STR business license.

I opened my first B&B over thirty years ago, and Ive owned and managed many sizes and types of lodging options for guests over the years. As a former hotel general manager and senior housing executive, I understand the training, regulatory compliance, and education that needs to take place to create a positive, comfortable, and safe environment for each guest. I also know how to market that experience to the public.

Most vacation rental owners dont possess this level of experience, but theyre expected to manage a professional hospitality property without the resources to provide the best possible experience for their guestsso its no wonder many guests and owners have had negative experiences with STRs! Something needed to change. Education is the key to positive outcomes.

My thirty-plus years of hospitality, education, marketing, and public relations experience has been applied to my own rental properties and contributed to my familys success in filling reservation calendars at healthy rental rates while obtaining five-star reviews from our guests. Behind the evident success are also examples of problems weve encounteredand mistakes Ive made that I worked through, corrected, and aimed never to repeat. Some of the best lessons I share with other hosts resulted from challenges, and the strategies we developed to overcome them.

Ive also been heavily involved in my community and in municipalities across the nation to help shape legislation to protect the rights of vacation rental owners, neighbors, and guests. This work continues to allow me to see the broader scope of the industry from many viewpoints and ask hundreds of owners about their experiences. Some of their stories have been heart-wrenching; while others are delightful. I knew that I had to do something to share proven best practices and experience with other owners. In addition to drawing much of the information from decades of my knowledge, education, and experience, Ive enlisted the help of others, such as industry-specific experts and my team.

My family and I daily experience what all STR managers encounter, and we see industry trends from this practical perspectiveas current STR hosts. My youngest daughter has contributed education and experience from her degrees in Hospitality Management and International Affairs and Global Enterprise as well as her work in the international sectorboth within our STR management and in writing this book. She has won awards and esteem for her hard work, education, and research dedicated to topics such as hospitality, international business, and social media as a tool for marketing in the travel and tourism and international education industries.

Weve scoured books and articles to include industry standards and statistics in our research. My oldest daughter is a talented photographer. In addition to contributing quality images, she has shared expertise in enlivening marketing materials and promotional strategies through stories, music, and visual images. My husband has been a great support and lends the perspective of a professional from an unrelated industry who learns and applies hospitality industry standards within his contributions to our endeavors.

Finally, since there few accredited resources available that are dedicated to short-term rental management, much of our research has come from educational resources and time-honored practices within the hospitality industry in general (including my decades of educating and certifying hotel industry professionals). Weve also invested in qualitative research: interviews, case studies, and stories obtained from hundreds of short-term rental owners, property managers, hotel professionals, service providers, real estate agents, educators, city and state legislators, investigative reporters, and guests. Weve been busy!

So as you can see, while the question of how we came about the idea for this book might be simple, the process of creating this informative book actually stems from decades of experience from many individuals, combining knowledge, research, and passion to create a resource that is not only useful but essential in building an industry that holds incredible potential for both owners and guests.