the state of vacation rentals - 2014 homeowner forum

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The Cape & Islands Specialists since 1997 Homeowner Forums Fall 2014

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During our 2014 Homeowner Forum we discussed a number of topics including: - The 2014 vacation rental market and a look toward 2015 - How and why the Cape & Islands vacation rental market has changed

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Page 1: The State of Vacation Rentals - 2014 Homeowner Forum

The Cape & Islands Specialists since 1997

Homeowner Forums Fall 2014

Page 2: The State of Vacation Rentals - 2014 Homeowner Forum

Our Year-End Report: 2014 Recap and a look to 2015

Summer bookings:

• Martha’s Vineyard: 4.6%

• Cape Cod: -.5%

• Nantucket 1.3%

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Page 3: The State of Vacation Rentals - 2014 Homeowner Forum

The Current Cape & Islands Vacation Rental Industry

• Recent economy has produced a consumer’s

market

• Increased inventory of rental homes

• Vacationers are more experienced and savvy

• They demand:

– responsible and responsive owners

– top-level cleanliness and maintenance

– basic amenities and supplies

– thorough and accurate listings

• Guest reviews empower the vacationer

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Page 4: The State of Vacation Rentals - 2014 Homeowner Forum

Guest Reviews

In our recent survey of vacationers:

• 94% said they are more likely to inquire about a

home with several positive guest reviews and one

negative one versus a listing with no reviews at

all.

• Over 30% would not even inquire about a

property with NO guest reviews.

• 61% would be more likely to write a guest review

if asked by the homeowner.

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Page 5: The State of Vacation Rentals - 2014 Homeowner Forum

“We had fun playing bad mitten and volleyball”

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Page 6: The State of Vacation Rentals - 2014 Homeowner Forum

“Loved the outdoor shower! The smell of sewer

flowers fills the beautiful breeze.”

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Page 7: The State of Vacation Rentals - 2014 Homeowner Forum

“Our only regret is that we did not purchase a

pass to the Cape Cod National Seahorse.”

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Page 8: The State of Vacation Rentals - 2014 Homeowner Forum

Homeowner Management Techniques

Be more flexible, accommodating, & customer service-

oriented than ever!

Personalize your tenant relationships

When screening tenants, manage their expectations

Be communicative: Leave a welcome letter, be explicit

about check-out procedures, etc. – and check in with

them after they arrive!

Provide value-added extras

Be compulsive about cleanliness

Return security deposits quickly

Request a guest review promptly after each rental

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Page 9: The State of Vacation Rentals - 2014 Homeowner Forum

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Booking Management

Page 10: The State of Vacation Rentals - 2014 Homeowner Forum

View which items have been completed, their due dates, and any that are overdue

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Booking Management

Page 11: The State of Vacation Rentals - 2014 Homeowner Forum

Homeowner Marketing Techniques

• Plenty of top-quality pictures with descriptive captions

(and video).

• Maintain a visually attractive and informative listing.

Enable the map zoom feature.

Sell your location as well as your home, direct them to

the Vacation Planner and Events page.

• Keep calendar date stamp current.

• Respond to inquiries quickly.

• Use Owner Specials and Last-Minute Availability Alerts if

necessary.

• Take advantage of social media.

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Page 12: The State of Vacation Rentals - 2014 Homeowner Forum

Recent Site Enhancements – Last-Minute Availability Directory

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Page 13: The State of Vacation Rentals - 2014 Homeowner Forum

Vacationers want clear, bright, large pictures

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56% of vacationers would not even

inquire about a home with dark or

grainy pictures!

Page 14: The State of Vacation Rentals - 2014 Homeowner Forum

How Can We Help?

• Easy-access phone support

• Blog, Tutorial Videos, Newsletters

• Our Consulting Services

• Professional Photo & Video Services

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Page 15: The State of Vacation Rentals - 2014 Homeowner Forum

• Businesses include home maintenance, repairs,

painting, house cleaning, home watch, and landscaping.

• Share your opinions with fellow homeowners

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Home Services Directory

Page 16: The State of Vacation Rentals - 2014 Homeowner Forum

Use our Vacation Planner & Guidebooks to Market Your Location

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Page 17: The State of Vacation Rentals - 2014 Homeowner Forum

Help & Info Page

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Page 18: The State of Vacation Rentals - 2014 Homeowner Forum

Recent Site Enhancement - Google Map View of Search Results

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Page 19: The State of Vacation Rentals - 2014 Homeowner Forum

Recent Site Enhancements – Google Map View of Search Results

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Page 20: The State of Vacation Rentals - 2014 Homeowner Forum

Sneak Peek

Building the buzz about our new brand messaging

Making mobile & tablet access easier

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Page 21: The State of Vacation Rentals - 2014 Homeowner Forum

Vacationer Cape & Islands Experience Feedback

• Cross the bridge and you are transformed

• The Cape & Islands provide a happy place for

1,000’s of people

• Family traditions are built on the Cape & Islands

• “We travel all over the world, but it’s not a summer if

we don’t go to the Cape (the Vineyard or

Nantucket)”

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Page 22: The State of Vacation Rentals - 2014 Homeowner Forum

Our New Logo

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Page 23: The State of Vacation Rentals - 2014 Homeowner Forum

Website Redesign for Various Devices

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Mobile Phones Tablets