What to Expect
Now that You've Joined InvitedHome ~ What's Next?
Getting Started With InvitedHome
This is an especially exciting time for your revenue management team, as the next steps we take are crucial for the long-term success of your home. The vacation rental space is a part of the emerging “trust economy,” and as such, growth and success within it are determined by a few dictating factors. These factors have resulted in an industry average ramp-up period of about 12 weeks, however InvitedHome is working hard to bring this time down through our revolutionary approach to revenue management. Below are some things we're doing to generate bookings for your home faster.
Your vacation rental is now the new home in the market, and hasn’t had the opportunity to rent yet. At this moment, filling your home with guests who love it is our top priority. To do this, we’ll often be aggressive with pricing for the first two or three months, as making competitive adjustments to the price increases the probability of occupancy. This helps you stand out from the crowd, and attract those coveted first guests.
Our revenue management team will actively monitor interest in your home. After we put out the initial rates, we’ll adjust as necessary. If activity is low, we may adjust the price down, as our primary goal is to generate those first few bookings as soon as possible, to help your home gain that crucial traction immediately. As soon as there is increased interest, we’ll respond accordingly to capitalize on that interest, to ensure we maximize your revenue.
WATCHING YOUR NEIGHBORS
We’ll also keep a close eye on your home’s market. If your home isn’t renting, often it’s due to a seasonal low for the area. We’ll do the research to determine the optimal price given these conditions.
Getting positive reviews is the final step in building the momentum your home needs to achieve maximum booking potential. By going through the above steps, we hope to ultimately entice your first guests into a timely stay, help your home receive positive reviews, then start the process over with an incredible added benefit: Your home is no longer the new home on the market, and its rental appeal will only increase from here.
We have found this to be a proven way to ensure long-term success and maximum revenue for your home, but your happiness remains our top priority. Throughout this period, your feedback is important to us. Please reach out to your Homeowner Experience Specialist directly or to the team at firstname.lastname@example.org so we can promptly answer any questions you may have, and thanks again for choosing InvitedHome. We’re happy you’re here.
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