The 1 Reason I Found Property Investors Fail At Creating A Vacation Rental That Gets 5-Star Reviews.
For the past 18 months, I have stayed in over 40 vacation rentals.
What stood out is that property investors who wanted to achieve a 5-star rating ended up failing because they were:
Focusing more on accessibility and the position than on the attention they gave to the needs of their guests.
Relying on the position and what the area offers is a great starting point for any property investor! However, a deeper understanding of their guests is needed, who do not want an overpriced rental where their home offers a more luxurious experience.
Here are some of the other reasons I’ve learned why vacation rentals fail:
They do not have clarity about the type of guests they want to attract.
They don’t have a “Welcome Guide” with essential information, such as the wi-fi password.
They do not carry out regular Property maintenance and ignore guest feedback.
Overcoming these steps is crucial to succeeding in a competitive environment, moving forward, and making actionable progress.