One of the things that has helped to shape the vacation rental investment industry is instant booking. This feature was first used on Airbnb listings. Now, it is common on almost every listing platform. For many rental owners, the idea of instant booking can be daunting. Many worry about the risk of bad guests, problems and even scams. In reality, this feature can do a lot of good for your listings, and could even help to increase your overall success.
Is instant book worthwhile, then? And, more to the point, what do you need to know about using instant book for your rental? Join us on the blog today as we share some tips on how to optimise your vacation rental investment with instant booking.
Why Use Instant Book For Your Vacation Rental Investment Listings?
In today’s often fast-paced world, very few people are willing to spend time waiting for things. One of the biggest reasons that instant book has taken off the way it has is that it simplifies the booking procedure greatly. Instead of a prospective guest having to first send an enquiry, then wait for a reply, and then make a booking, bookings are done instantly using a calendar that reflects the property’s availability. Some of the benefits of instant book for vacation rental investment include the following:
- Easier booking process. As we mentioned above, instant book cuts out a number of steps in the manual booking process. Guests are able to quickly get a calendar overview that determines when the property is available. From there, all they need to do is book directly. The booking is confirmed, and the guest simply needs to pay any deposit if one is required. On the downside of this simplification, there is little to no room for guest screening. If you require far greater control over bookings, this may not be the ideal choice.
- Increased reputation. The easier guests can book, the more likely they will be to choose your property over one that is harder to book. Short term rental reputation is vital to your property’s chances of success. As you continue to get bookings, positive reviews are more likely. This in turn helps to grow you reputation as being a property that is easy to book. Repeat bookings are more likely for places that have simplified their approach. Having an instant book badge on your Airbnb listings for example immediately informs potential guests that your property will be easy to book.
- Boosted occupancy. Another knock-on effect that instant booking has is that it helps to boost your occupancy rates simply. Instead of having to manually manage your calendars, you can manage your bookings either through a booking system, or better yet, with the help of an experience short term rental manager. This helps you maintain a consistent occupancy rate, which in turn will provide you with a sustainable income throughout the year.
While there is no doubt that tools such as instant book help you succeed, the best way to be fully sure that you are on the path to real growth is to consider working with a vacation rental manager. A good manager will not only market your property across multiple channels – they will also proactively manage your bookings and provide day to day management services on top of guest services such as concierge. This is easily the most effective way to grow your vacation rental investment organically, with year on year returns. To learn more about taking your vacation rental investment to the next level, contact Totalstay today.