Our featured vacation letting trend this week is workations – a type of getaway that fuses business and leisure travel. As the name suggests, this term fuses together work and vacation. The trend began to gain popularity with remote workers and freelancers who have the ability to work from any destination in the world. Travelling for anything from a few weeks to a few months or even a few years, workations are all about balancing work and play in a unique getaway that is not quite a traditional business trip and not quite a holiday, either.
What are workations all about, and, more to the point, why should short term rental owners be aware of this vacation letting trend? Keep reading to find out more about this trend to see how it is relevant to the short term rentals market.
About the Workation Vacation Letting Trend
In an article from January 2017, The Independent featured a list of the top five destinations for workations around the world. Not surprisingly, Cape Town made it onto the list. With its modern, fastly-growing City Centre, a wide variety of central neighbourhoods such as Gardens, Woodstock, Green Point, Sea Point, the CBD, and the Waterfront, along with its laid-back culture, beaches, wine estates, trendy eateries, and diversity of accommodation options, the city offers the perfect work-life balance.
For vacation rental owners, this emerging travel market is versatile, lucrative and steady, with many workation travellers typically seeking rentals for mid-length stays. If you are hoping to take advantage of this vacation letting trend, here are a few things to note:
- Workation travellers expect the same level of convenience as business travellers. That means that your property will need to be fully equipped with everything a corporate traveller may need. A fast WiFi connection, a dedicated working space or office, international plug points, phone jacks, and any other item you would consider for a corporate traveller should be on offer to workation travellers.
- Many travel alone, but others may travel in smaller groups. Compact apartments and aparthotel suites that cater to single travellers are often in high demand. These should be secure, central and equipped with all the basics required for self-catering – kitchens, living areas, storage space, appliances, televisions, alarms, room safes, and a well-stocked fridge are a good start.
- This type of traveller will want to take in the sights. Make sure that you have area guides on hand, along with other useful information such as local restaurants, Uber account, complimentary gym memberships, scooter or bike hire suggestions, and anything else that may be relevant. This is where a good short term rental manager becomes useful. If you are able to provide guest concierge throughout your guest’s stay, you will be able to ensure that your guest has the best possible experience, whatever they wish to do during their stay.
- Central accommodation is in high demand. Most of these travellers will want to be based within the City Bowl and surrounds so that they can be within close reach of all the action. Although the majority work remotely, others may be required to attend business meetings, conferences or other events. If you have a central apartment in this area, you can let potential guests know that you cater to workation travellers by including this in your listing. Yet another benefit of working with a manager is that you also get the benefit of professional short term rental listings and comprehensive marketing across diverse channels.
Working with a manager is the best way to take advantage of workation travellers and various other niche travel markets. To find out more about getting started with short term rental management, get in touch with our team today.