After several years in the post-pandemic doldrums, San Francisco's tourism economy is finally getting back on track.
Travel experts predicted that around 23.7 million people will visit the city in 2024, a figure close to the city's pre-pandemic peak. If you own a summer vacation rental in the Bay Area, now is the time to dust it off and give it the upgrades it needs to stay competitive in a saturated market with high-quality rental properties.
With that in mind, here are our expert vacation rental tips to help you get the returns you deserve during the summer high season.
Price Your Accommodation Competitively
Ensuring high occupancy for your Airbnb rental requires a competitive, dynamic pricing approach. Always opt for lower rates during quiet spells, such as in the middle of the week or around major events. During periods of high demand, you can adjust your rates to reflect this.
However, don't go overboard. Always do your research or consult an expert to see what the market will reasonably command. Static pricing will only result in you losing revenue and lodgers, so stay on the ball.
Upgrade Your Amenities
If you have looked at the vacation host competition, you'll know that landlords are bringing their A-game during this summer travel season. Americans are more willing to splash out on travel than ever before.
This means they expect high-quality amenities and service when they go on vacation. This means that now is the time to invest in upgrading your amenities.
Consider investing in high-quality linens, furnishing, and stand-out extras like jacuzzis, film screening equipment, and sound systems. These will help you stand out to a highly discerning crowd.
Be Flexible
Travel is unpredictable, and vacation guests are much more comfortable putting money down if they know that they have the flexibility to adjust their plans as needed. Consider a flexible booking policy and rules allowing free cancellation or date changes.
You could go the extra mile and introduce a pet-friendly policy for your property or allow guests to change the number of guests as needed at no additional cost. Guests will appreciate this flexibility, and you will enhance your offering significantly.
Be a Local Guide
Always remember that your property is part of the fabric of the city and should be treated as an extension of the destination itself. With that in mind, consider enhancing your rental so that it offers guidance and truly local tips for guests.
Include a list of your favorite attractions or offer tips on the best places to eat. Even better, see if you can make arrangements with local businesses to give your guests priority reservations or discounts. You have the power to make your guests' trips unforgettable, so use it.
We Help You Get More From Your Summer Vacation Rental
With the right know-how and investment, you can turn your summer vacation rental in San Francisco into a profitable enterprise all summer long. If you don't know where to begin, we are here to help.
At PMI SF Peninsula, we offer expert property management to help you upgrade, market, and maintain your property to the highest standards. Get in touch today to find out exactly how we can help you get more from your vacation rental.
