Owning a short-term rental property in Central PA can be a lucrative business, but with increasing competition, it’s essential to maximize your margins, secure more bookings, and ensure that your guests have an outstanding experience.
When creating a listing for your short-term rental (STR) property, there are a few surefire ways to ensure your listing stands out. You can learn a lot by studying other short-term listings in your area on platforms like Airbnb, Vrbo, Booking.com, and Evolve. Here are nine ways to analyze these listings with tips to optimize your own:
1. Identify Competitors in Your Area
Do a Location Search: Start by searching for properties in your area similar to yours in terms of size, amenities, and location on platforms like Airbnb, Vrbo, Evolve, or Booking.com.
Filter Results: Narrow down the search results using filters for price range, property type, and guest capacity to find listings that closely match your own. You want to see how comparable properties list. The goal is to see what the listers are doing, how they describe their property, and the language they use to attract renters. But this is just the beginning.
2. Analyze Listing Titles
Look for Attention-Grabbing Titles: Next, focus in to see how top-performing listings title their properties. Notice if they highlight specific features such as "Cozy Mountain Retreat" or "Luxury Downtown Loft." The goal is to understand what keywords and phrases are used successfully to attract potential guests so you can create similar titles for your own locations. In this step, look for locations with lots of bookings and an above average occupancy rate. In other words, hone in on what the best performing properties are doing.
Note Keyword Placement: Pay attention to the placement of keywords that describe unique selling points, such as proximity to popular attractions, scenic views, or special amenities like a hot tub or pool. Keywords help people search and find appropriate properties, so note how and when they are used in a listing.
3. Examine Descriptions
Explore Tone and Style: Once you've found top properties, it's time to observe the tone and style used in the descriptions. Are they formal, friendly, or playful? Use their listing tone as an inspiration for your own property. Choose a tone that reflects your property’s vibe and appeals to your target audience. If you're not a great writer, LMT Perfection can help you create or improve a listing.
Analyze Key Features: When looking at top booking locations, identify which features and amenities are emphasized. Make a list of these elements and ensure that your own description highlights similar or superior features.
Study Detailed Information: Notice how detailed the descriptions are regarding the neighborhood, nearby attractions, and what guests can expect during their stay. Consider incorporating similar levels of detail in your listing to give potential guests a clear picture of their experience. As a rule, it's always better to list lots of nearby attractions.
4. Evaluate Photos
Evaluate Quality of Images: Look at the quality and quantity of photos in top listings. Notice the angles, lighting, and composition. You'll probably discover that the top listings use professional, high-resolution images that showcase each property’s best features. If you want better photos of your property, LMT Perfection can help.
Notice Photo Order: Pay attention to the order in which the photos are presented. Most listings start with a standout image, such as a beautiful view or a well-staged living area, to grab attention. Your first image should highlight your property's best feature. It is the one that will draw them in, so make it a good one.
Emulate Staging: Notice how the properties are staged. Simple touches like fresh flowers, neatly arranged pillows, and spotless spaces can make a big difference. Apply similar staging techniques to your property before photographing it. A few simple touches can make your property look more warm and inviting, and that translates into more bookings.
5. Study Pricing Strategies
Evaluate Pricing Models: Compare the nightly rates of similar properties. Notice how prices vary by day of the week, season, and during local events. Are you using similar strategies?
Explore Dynamic Pricing: See if competitors use dynamic pricing models that adjust rates based on demand. Consider using a similar approach to stay competitive.
Consider Discounts and Promotions: Take note of any discounts other properties are offering for extended stays or last-minute bookings. Adding similar deals to your listings could help fill vacancies in your calendar. Again, LMT Perfection can help with pricing strategies that keep your property booked.
6. Review Guest Feedback
Read Reviews: Go through the reviews of top listings. Pay attention to what guests love and what they find lacking. Consider this your free market research. Customers are telling you want they like and what they dislike. Use this feedback to anticipate guest needs and address potential issues before they arise.
Note Common Compliments and Complaints: Identify recurring themes in reviews. If guests frequently praise a particular feature that your property offers, make sure to emphasize that in your listing. Conversely, if certain complaints are common (like noise or parking difficulties), consider how to mitigate or address those concerns in your own listing. For example, if you have a quiet location, highlight it. If you can't offer peace and quiet, create a listing that leans into other features. And never promise a feature you can't deliver; that's a surefire way to rack up negative reviews.
7. Look at Booking Calendars
Review Availability and Occupancy Rates: Some platforms allow you to see the availability of other listings. Listings that are frequently booked can give you an idea of the high-demand periods and pricing sweet spots.
Study Booking Lead Time: Observe how far in advance properties are booked. Understanding lead times can help you think about the best time to start promoting your listing for upcoming peak seasons or events.
8. Assess Amenities and Special Features
Inventory Common Amenities: List amenities commonly offered by similar listings such as Wi-Fi, free parking, or kitchens. If your property includes these essentials, highlight them. If not, consider ways to offer them or compensation, such as offering parking validation at a local parking garage.
Explore Unique Offerings: Take note of any unique features or services offered by top competitors, such as bike rentals, breakfast provisions, or a welcome basket. Consider adding similar touches to stay competitive.
9. Understand Cancellation Policies
Compare Flexible vs. Strict Policies: Review the cancellation policies of similar listings. Understand the trade-offs between flexible policies that might attract more bookings and stricter policies that protect your income.
Examine Policy Descriptions: See how cancellation policies are presented and how they might influence booking decisions. You may see wording or policies that you may want to use in your listing. Be clear and transparent in your own listing about what guests can expect if they need to cancel.
Want to Create a Better Online Listing for Your Short-Term Rental Property?
By thoroughly researching and analyzing similar short-term rental listings, you can learn how to craft a compelling and competitive listing that maximizes your property’s appeal. You can also get help by hiring consultants and guest hosts at LMT Perfection. We regularly help owners of short-term rentals and vacation properties in Harrisburg, Gettysburg, Lancaster, Hershey, and York make the most of their listings. We also help them make small changes that result in big results, including more bookings and higher rates. Contact us today to find out how we can help you make the most of your investment property, vacation rental, or short-term rental.