With tourism being the largest industry in the Greater Palm Springs area andPalm Springs 14.4 annual day and overnight visitors to the area, owning a vacation rental in Palm Springs can yield great results. However, maximizing your return on investment (ROI) takes strategic planning and effort. With the city’s appeal as a hotspot for outdoor adventures, year-round sunshine, and Hollywood’s retreat destination, there’s no shortage of opportunities to increase your property’s profitability.
As a Palm Springs property management company, Apek Rentals has insight into what travelers are looking for. Here’s our list of 5 ways to increase your income for your Palm Springs vacation rental:
Use dynamic pricing tools to adjust nightly rates based on demand, seasonality, and popular local events like Coachella. By taking a more comprehensive approach and adjusting rates based on data, you’ll be able to stay competitive and attract more bookings.
As a luxury vacation destination, travelers to Palm Springs expect their vacation homes to have top-notch amenities and exude relaxation and luxury. Consider adding amenities like a private pool, hot tub, or fire pit if possible to increase your property’s appeal. Small touches like providing high-quality linens or providing complimentary bikes to explore the area, are thoughtful and can elevate the guest experience. These upgrades not only justify premium pricing but also encourage positive reviews and repeat bookings.
Repeat guests are key to running a successful Palm Springs short-term rental and Palm Springs property management company. Creating a memorable guest experience will drive guests to return to your property year after year, resulting in a steady stream of income. They are likely to book in advance, pay a higher premium, and leave a positive review of your property (which is very important to help draw in new guests.) Focus on communication, keeping the property in excellent shape, and providing an experience that will have guests returning time and time again.
High-quality marketing can make all the difference in a competitive market like Palm Springs. Property photos are one of the first things to draw in potential guests, and your lead photo should highlight the best of your property. Investing in a professional photographer will help you showcase your property with clear, high-quality images.
Teaming up with a local Palm Springs property management company that handles marketing your property will ease the burden of marketing your property. From promoting your properties through social media to Google Ads and email marketing to SEO, using a property management company allows your property to be accessed through different channels.
Palm Springs is a pet-friendly vacation destination, with many restaurants even offering their own doggie menus! Homes that allow pets can earn a 6% higher average daily rate (ADR.) With a small majority of Palm Springs vacation rentals listed as pet-friendly, set your home up for success and be one of the select few Palm Springs pet-friendly rentals.
Managing a vacation rental can be time-intensive, especially if you’re not based in Palm Springs. Partnering with a local Palm Springs property management company like Apek Rentals can help you streamline operations and improve guest satisfaction. Our homeowner services include an extensive digital marketing strategy, pricing optimization, trust accounting, and more. Working with local experts can maximize your rental income and achieve long-term success.
