There are many side-incomes that you can derive from your short-stay rental venture. Simply said, you can make money out of anything as long as you bring value to the table. Here are a few tricks that you can do to monetise your short-stay rental unit further
1/ Collaborate with pet hotels or provide pet-caring services
Going on an extended holiday can be an issue for tourists who have pets. They usually ask family, friends or neighbours to help care for their pets before travelling. The other option is to bring them along for the journey. However, most hotels, hostels and short-stay rental enterprises do not allow pets, which makes their choices of lodgings limited.
You can increase the occupancy rate in your short-stay rental unit by tapping into this market while making additional cash out of it. For example, you may earn a commission with the nearby pet hotels for every animal you send over to them. If such hotels are unavailable, you can provide pet care services for tourists and charge them for it
2/ Advertising for tour agencies
Call up tour agencies and advertise for them by placing their brochures in strategic places around your house, such as the room or the living area. These agencies should respond favourably to this target marketing strategy since they can be confident that the majority of your occupants are tourists. To position yourself in the tourist market, ensure that you purchase your investment property nearby to a multitude of tourist attractions. The more tourists you channel to your advertisers, the higher the likelihood of them continuing to support you.
3/ I am your guide
Tour agencies usually offer packages that are affordable only when people join in groups. Even then, tour schedules are mostly inflexible, meaning that tourists are allowed a brief window of opportunity to explore and experience a specific attraction.
With a private tour guide at their disposal, they may experience a more personal touch. You can give them recommendations for local food to experience, places to visit or drive them around, for a fee of course.
There is no better way to experience a place than by listening to the stories and lore, right from a local person’s perspective. If you are going to encourage tourists to try out a particular cuisine, do work out some commission with the restaurants. Start the ball rolling by mentioning in the short-stay hotel listing that you are capable of providing private tours.
4/ Laundry services
Clothes and garments usually make up the majority of a tourist’s luggage, since it is not practical to wash them on the go. Furthermore, it is a hassle for them to hunt for laundry services in an unfamiliar country.
Hotels providing laundry services aren’t always budget-friendly, so their stay would be a short one. By announcing your laundry services on the onset, your short-term bookers know not to bring too many clothes, allowing them to free up luggage space for souvenirs. This provides you with additional selling points when competing against other short-stay rental units out there. Essential services not only reduce their burden, but it also allows them to stay longer in your unit, which equals more money.