The difference between short term rentals that succeed and fail

A lot of my clients in Atlanta are interested in purchasing and running a short-term rental. The perks are amazing. From Atlanta, you can rent out your beach house or condo on the coast or a mountain home in Blue Ridge. Making a monthly income and also be able to have a go-to vacation spot? Sounds like a win/win to me!

I’ve seen short-term rentals take off, and I’ve seen short-term rentals sputter, fizzle, and burn in just a few months. One thing I’ve learned through our own short-term rental in North Georgia? It’s a business, almost like a part-time job I’ve created for myself. 100% worth it mind you - but the work involved is something to consider, along with these other 5 things below.

Do you? …

“It’s important to understand WHO your guests will typically be, and what they are looking for during their stay. ”

— Sara Cowley, Atlanta Realtor

Know the market and target audience? Not all areas are the same. It’s important to understand WHO your guests will typically be, and what they are looking for during their stay. Will they be staying in, cooking and lounging around? OR using your property as a crash pad while they see the surrounding areas? Knowing this difference will help you create an environment that is perfect for your ideal guest, which in turn will increase your occupancy.
Have a well-maintained, CLEAN, and appealing property? This is number one. No matter where your property is located it should be so immaculate that guests mention it in their reviews. On top of that, don’t cheap out on basics. Guests will rave about high-quality sheets and bedding, ample towels, and a kitchen with everything needed to make a meal. These are all non-negotiables for a successful short-term rental business.
Understand how to market your property in a sea of others? This book helped me tremendously with understanding how to market my cabin. And forever and always, get professional pictures made. Do not skip this step. If you’re not a writer, hire someone to write your copy for listing sites.
Have a user-friendly and professional rental process? Automation is key to replicating the same check-in and communication process for each guest. We use Hospitable, but there are others as well. This application has been life changing as it sends automated messages and makes sure we don’t double-book guests.
Take reviews to heart and make adjustments to maximize profitability and guest satisfaction? It’s no fun getting negative feedback. But if you look past the stress, guests are often giving you valuable tips to improve your rental. Take them to heart and be open minded about making improvements.