Join Christopher Matthew Spencer for an in-depth discussion in this video Establishing prices, part of Making Money with VRBO.
- I learned a lot about pricing vacation rentals…when I owned and operated hotels,…and I've applied that learning to my VRBO business.…For starters, a VRBO business will have added expenses,…such as amenities and housekeeping costs.…Plus, there will be a percentage of the time…the rental will sit vacant.…Before setting rates, consider the following:…Is VRBO going to be an income supplement…or a key source of income for you?…Establish if you're doing your own housekeeping,…how much time can you commit to handling checkout cleaning?…Assess the total cost of resetting the space…between guests, including the amenities, laundry costs…and cleaning supplies.…
Review the cost of water, electricity, gas, cable…and subscription services such as Netflix, Hulu and Amazon.…Contemplate if you'd rather stay super busy…or earn the same amount with a higher vacancy rate.…Analyze if you can afford to take the time required…to find the sweetspot in pricing your VRBO business.…I've come up with my own personal formula…that works well for me as a starting point for VRBO pricing.…
AuthorChristopher Matthew Spencer
Christopher Matthew Spencer, a successful VRBO host, first acquaints viewers with VRBO and the requirements—both in terms of mindset and property—needed to venture into the VRBO world. Then you'll learn how to prep a property, stock it with amenities that will garner 5-star reviews, and craft an attention-getting listing that covers everything from the listing headline to property descriptions and guides. The course also explores how to manage guest interactions, deal with housekeeping and maintenance, and promote listings outside of VRBO. Start watching to learn how you can profit from this great sharing economy platform.
- Evaluating whether VRBO is right for you
- Writing about and photographing the property
- Establishing a price for your VRBO rental
- Planning for ongoing maintenance
- Preparing the kitchen, bedroom(s), and other spaces
- Stocking your rental with amenities
- Scouting the competition
- Managing guest interactions, including check-in and checkout
- Working with guest feedback
- Promoting your VRBO rental
Skill Level Beginner
1. An Overview of VRBO
2. Preparing Your Property
4. Ready, Set, Go! Getting Up and Running on VRBO
5. Service Is Your Brand: Managing Guest Interactions
6. Housekeeping and Maintenance
7. Working with Guest Feedback
8. Tips for Success
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