Vacation Rental business can experience off-peak seasons, however, that is not the case with most Ski Vacation Rentals. Winters are obviously popular and crowded because of skiing lovers. Summers are popular too because of nature lovers. People enjoy the hiking trails and biking around the mountains and kayaking and boating are other attractive activities in such regions. Therefore, ski properties have perennial revenue streams. This is what attracts most of the Vacation Rental owners to this market.
However, it is never easy to run any business, therefore some advice is always needed when it comes to the Ski Vacation Rental business as well. Streamlining the business, optimizing it, and marketing is all part of making it successful. Further, there are different types of properties to pick from and many other key decisions. These should not be made based on hearsay, but rather detailed research and proper thought should be given before investing in the property. It is not every day you invest in one, so without further ado, we will discuss how to best manage a ski vacation rental property.
Below slides give some quick yet insightful tips on boosting revenue through proper management of your Ski VR:
Which property type is appropriate?
There are many types of sky resorts in USA but most commonly, two types of properties are common in this market. A ski condo and ski home. Each property has its positive and negative aspects so after a thorough analysis of the kind of investment you want to make, you can decide among these.
A ski condo is basically a place to stay in a shared complex or a multi-condo facility. What this provides are many shared facilities such as a law, hot tub, swimming pool and sauna. As the common facilities are used by many condos in the complex, each condo owner contributes to the maintenance of these facilities. These maintenance charges are generally fixed.
So, on one hand, you get the use of these facilities at a lower price but on the other hand, you also have a fixed expense. This fixed expense needs to be paid even when you don’t get bookings. On the one hand, you don’t have to worry about repairs and maintenance of these facilities but on the other hand, you have to share them with other guests.
At times, investing in a condo can be a better idea because the condo complex has links with many local businesses. These businesses help to shuttle your guests to the ski area, renting them ski gear and many other benefits. Such connections lead to a better guest experience and are hard generate singlehandedly.
A Ski House, on the other hand, is individual property. Not only do you have to manage it on your own, but you also may not get as many features as a condo complex. However, condo complexes can be crowded and less preferred by guests wanting privacy. Further, a house gives you the leeway of customization. You can create a unique ambiance to attract guests to your property which can fetch you a higher rent and profits.
Further, if you are successful, you can even tie-up with local businesses similar to a condo complex since one key thing that they care about is the regularity of business that you might be able to bring to them.
However, managing an individual property is not an easy task since you must oversee it 24/7/365. You might be able to delegate some activities but without your attention, things can go wrong.
A ski house property can also be very large depending upon the size of your investment. This might be another benefit over small condos where larger parties can’t be fit. Further, homes provide a lot of activities within the premises as well, so they are booked even in summers.
So, each kind of property has its ups and downs, and you must choose which suits your business the best.
Ski vacation rental property must-haves
One of the key elements of a ski vacation rental is of course the snow in the winter season. However, snow brings very low temperatures with it you will need to ensure that your guests are warm and comfortable in all rooms of the rental. This might call for having artificial heating devices if the whole home or condo heating is lacking.
Efficient heaters are a must-have in a ski vacation rental, and they should be supplemented with the warmest and high-quality blankets. Remember, your guests should feel the warmth and comfort while staying at your property, both literally and figuratively. So, make sure the heaters are in perfect working condition. Further, if you have a fireplace in the property, it is a big plus since it adds to the romance of the property. Be sure to use it in your marketing.
Create an ambiance with a fireplace as the center of attraction. You may even create a circular seating arrangement in the living room and set out warm cups of hot chocolate to bring out the coziness of the property.
Adding a hot tub to your property can also bring you a lot of accolades and guests. Not only is it a popular addition, but it also conveys a relaxing vacation thing to do. Your property can attract more audience because of such features. Further, you can charge a higher rate per night. You need to ensure proper maintenance and upkeep so that the guests are never disappointed. If there is ever a problem, you will want to have maintenance staff onsite within a few hours of you will suffer negative reviews.
If you want to up your game by one more notch, think about heated floors. It is an expensive addition to the property so weigh the pros and cons thoroughly. However, it adds to the luxury rating of your property which can directly increase your per night rate. Some frugal alternatives can be electric mats but those will more before utility than for luxury.
Keep your property up to date & be prepared for an emergency…
Like any other property, if it doesn’t get repairs and maintenance for long, the property starts showing signs of deterioration. The same is the case with a ski vacation rental property. One of the most important factors is the proper storage facility. Skiing as a sport involves the usage of a lot of equipment, so be sure to give your guests proper storage so that such expensive equipment is safely stored.
Always have some extra supplies and food at your property. These regions a prone to heavy snowstorms and therefore, if a guest is stuck at the property, it should not be short on essentials.
Have medical and emergency assistance handy. Low temperatures can cause frostbite or hypothermia. Further, due to low visibility, the chances of accidents increase, so be prepared for such events.
You may have delegated the management to a third-party agency, however, take a thorough look at their policy of managing snowstorms. Go for only experienced agencies and don’t think of cutting corners in this aspect. You can’t risk the life of your guests and the reputation of your property. State governments prescribe necessary measures, so ensure you have followed all of those.
Marketing your property like a pro…
Remember, you serve two target audiences a year. The summer hikers and the winter skiers. Don’t forget to rotate your marketing literature seasonally. You won’t be able to attract a ski-seeking traveler with a sunny day photo. It is best to use software to manage all your online listings and social media pages. This will make it easier to keep your marketing up to date.
Further, do not forget the most important time of the year – Christmas and New Year holidays. Nature provides you with the most beautiful white canvas. Make full use of it. Decorate your property with lights, a Christmas tree, Snowmen, ornaments, and much more. Make it look like a winter paradise. You may even arrange for old-school carriages to give a complete experience.
In summers, your property provides the best of nature’s escape. Attract the nature lovers, hikers, mountain bikers, kayakers or just a normal crowd needing a vacation. But for this, you will have to update your listings a little in advance, at least 2 months. This is necessary because such vacations are planned ones. So, you need to attract an audience before summers arrive. This will cause them to book your property well in advance.
This sums up a lot of what goes into managing a ski vacation rental property. The most important reason that makes such properties lucrative is because they tend to attract vacationers all year round which gives you stable revenues.
You need to ensure that you market the property properly. Don’t leave any listing platform untouched and be sure to list on low cost sites such as the rentaltrader.com, since savings are key to your profitability. RentalTrader.com has a robust SEO running in the backend to give it a higher ranking on the various search engines. Using vacation rental management software will make it very easy to tap all such listing platforms. Furthermost, new platforms are free, you may start listing by simply logging in, so it costs you nothing but has the potential of bringing you profits.
Managing a ski vacation rental generally takes a high initial investment but the price per night can certainly make it worthwhile. Not all properties can be near the ski slopes, so you have an advantage for those who love to ski and enjoy the winter wonderland. For more information and to join our email list, please fill the web-form or feel free to give us a call.