In the competitive world of short-term rentals, determining the optimal pricing strategy is crucial for maximising revenue and occupancy rates. At Hostimize, we understand the complexities that property managers face when setting rental prices.

Today we are going to be going through the simplified blue print to marketing your property. Often, marketing is made far more complicated than it needs to be. Marketers use stupid jargon to sound cool and most of the time it makes things more confusing.

As a short term rental owner or manager, your top priority is to maximize your property’s reach and get as many potential guests to book as possible. Using a combination of different channels will allow your business to be seen by as many potential bookers that are filtering for what you have to offer.

You may be uhming and ahing whether to invest in some professional photography for your business, so today we are going to go over the main benefits you will get for your business.

Yield management is a dynamic pricing strategy designed to produce the maximum revenue from your set inventory of rooms. As a property owner, you will strive to have the highest occupancy rate as possible as you know your inventory is perishable. (If a room isn’t sold, you can’t turn back the clock to try and resell it)

Understanding human nature and the behaviour of a potential booker gives you an edge when marketing your property. The goal is to understand every step in someone's decision making process so you can optimize the experience to be as good as possible.

Today we are going to be discussing the boring metrics that measure the success of your property marketing efforts. Like with most other industries, short term letting has its own unique set of performance metrics and understanding (and then implementing) them will help you track your progress.

Understanding heuristics and cognitive biases can help you create a better user experience for potential bookers. The goal is to use human nature to your advantage by easing customer doubt throughout the purchasing journey.

Managing your business's reputation has become an essential part of running a successful hospitality business. If you own any type of property which accommodates guests, there’s a good chance they are previewing your reviews before making a purchasing decision and also leaving reviews once they have stayed.

Posting high quality social media content is one of the best ways to promote your property and build great social proof for the business. You can showcase your properties interior, exterior, the local area and any other services you may offer.

A competitive set (compset) is a group of properties that compete with you most often for bookings. This may be because they are local, similar size and amenities etc. From the top of your head, you may have a few properties in mind… “How does Karen keep selling out her inventory and I don’t” - Those people.

There are several different ways to get bookings for your property online. Some owners prefer the book direct approach where they create their own brand, others like to list their property with online travel agencies and now owners are even starting to explore the use of metasearch sites.