Having a vacant rental property can easily become a white elephant in your investment portfolio. To turn this around, you can look at alternative options, like turning the property into a short-term rental.

This type of venture requires a lot of effort, especially when it comes to creating an online presence to generate revenue. By taking advantage of digital marketing, you can ensure a steady stream of guests visiting the abode you created for their ease and enjoyment.

Benefits of having a short-stay rental

Having a rental property of any kind diversifies your investment property. However, there are key differences between letting out a long-term rental property versus a short-term one. 

Financial advantages

• Unlike long-term rentals, which are often a steady income stream, short-term rentals allow you to engage in dynamic pricing. Based on factors like peak seasons, demand, and local events, you can adjust your prices accordingly. 
• If you offer your guests extra services, like housekeeping, you can earn extra income for the rental property.
• Changing to a short-stay rental makes you eligible for small business tax deductions. This means that you can claim various operational costs as tax deductions.

Flexibility

• Having access to a short-stay property makes it accessible for you as the owner to use for personal reasons. This includes family events or staycations for you and loved ones. 
• This type of property allows you as the landlord to have easier access to your property for inspection and maintenance purposes.
• Due to there being minimal changes to the property, it becomes more adaptable and can be converted to long-term leasing at a whim.

Property maintenance

•  rentals have less wear and tear to them than long-term rentals.
• Upkeep is easier and done at a faster rate than long-term rentals.
• Staying on top of rental inspections is important when you have a tenant turnover. 

Other benefits

• Having a short-stay property provides you with access to various guests, and there is less risk than having long-term tenant turnover.
• If marketed correctly, you will have global visibility for your property
• Due to the variety of guests that will be booking with you, it opens up a lot of social networking opportunities and meeting travelers from all over the world.

Digital Marketing Strategies

Once you have settled on making the transition from long-term to short-term rentals you can begin working on strategies to market your property.

Optimize online presence

One of the best strategies that you can include as part of your larger digital marketing efforts is SEO optimization. You want to optimize your small business by using relevant keywords in your content strategy, practicing local SEO efforts, adding your rental to listing sites, and most importantly, making your booking profile mobile-friendly for better accessibility. 

Social media

Marketing through social media is crucial to your strategy as well. Making profiles on various platforms like Instagram, Facebook, and Pinterest can help you showcase the unique features of your properties. These platforms also allow you to engage with followers and respond to interested potential guests. Make sure that when you are posting on these platforms, you use hashtags to increase your reach and visibility. Make sure that you add the location too, so that it makes your rental easier to find. 

Content marketing

Content marketing coupled with social media marketing can help boost your reach. Ideally, you want to create a blog that focuses on the local area where your property is located. Make sure to include content that highlights the local attractions and seasonal activities. To round up the content approach, share informational pieces about the property, and other information the guests should know. 

Don’t be afraid to take a multimedia approach, by creating a virtual tour so that viewers can have a better idea of what to expect from their stay. You can have a walking tour and drone footage to drive home the highlights of the rental. 

Give your content a push by sharing it on social media and OTA listings. Also, share user-generated content like tenant reviews and testimonials to create authenticity and trust with potential future renters.

Email marketing

For email marketing, allow interested clients to opt-in to receive messaging like newsletters, updates, discounts, and local events. Aim to personalize the content to encourage repeat bookings from previous guests. 

Paid advertising

Options like PPC on search engines will show your property in search results when certain keywords that you optimized for are mentioned. To maximize your ad reach, consider using tools to generate high-quality B2B leads, helping you connect with corporate clients, travel agencies, and relocation services that frequently book short-term stays.

You can also run targeted ads on social media to attract both individual travelers and business clients, ensuring your property reaches a diverse range of potential guests beyond traditional marketing efforts.

Influencer marketing

You can partner and collaborate with micro and nano influencers like travel bloggers and digital nomads to help you reach a wider audience. These opportunities can help you gain more traction during low seasons, make the deal sweeter by running competitions and getaways for their followers to win. 

Other considerations when making the change

Before you make the change from long-term to short-term, you want to evaluate the potential of this approach. Look at the location the property is based in, the amenities nearby, and local attractions that can be leveraged to generate interest.

Weigh the pros and cons of the income you are set to generate versus the operational costs of running a short-stay rental. Remember to include additional expenses for furniture, amenities, and maintenance in your calculations.

Preparing the property

• Before allowing new guests to stay, make sure the property is maintained and well-equipped with the essentials for guests. This includes kitchen supplies and toiletries.
• Aim to decorate the property with locally-inspired accents to enhance the guest’s experience. 

Legal compliance

Before you list your property, research local regulations and ensure that you comply with them. Look up the permits, licenses, and registrations that you need to obtain beforehand. Also, make a note of the tax implications and benefits of these types of rentals.

Enhancing the guest experience

If you’re looking to take your marketing to the next level, you may even look into how you can develop an app or a digital welcome book for the guests. You can include instructions relating to the property and local ideas or recommendations they can try out during their stay.

As the host and owner, make sure that you communicate with the guests throughout the stay and make yourself accessible to them in case they need assistance. 

Operational efficiency

To ensure that this venture runs smoothly,  synchronize calendars across platforms, to ensure there are no double bookings or mistakes. You can also utilize automation tools for communication and property management software, like RentRedi, making upkeep and maintenance easier for you to manage.

Conclusion

There are many benefits to transforming a long-term rental property into a short-term stay. To reap the benefits of this venture, develop digital marketing strategies that will help you reach out to a wider audience. Ideally, you want to use several digital marketing strategies, like social media, SEO, email, and content marketing, to see measurable results and success for your short-term rental.