The short-term rental industry has seen substantial growth over the past five years in both the quality and quantity of services. This already impressive growth has been accelerated by the pandemic, and has shown no signs of slowing down. Meeting new increased quality standards will be key to the industry’s sustained growth. To measure how professionals are strengthening their property care programs to deliver on guest expectations and high-quality rental experiences, we surveyed hundreds of vacation rental managers in our 2021 Property Operations Report. Here is a roundup of the top 5 statistics you should know from this year's report.
1) 93% of managers think elevated consumer expectations for cleanliness, quality and safety will sustain even as travel restrictions and pandemic uncertainty subside.
The post-pandemic travel boom has inundated managers with an influx of bookings, adding to the existing challenges of servicing numerous unique properties, but now with more factors to prepare for and even higher guest expectations. Increased communication surrounding safety measures can help managers keep up with operational demand.
2) In 2021, 70% of property managers customize their cleaning checklists; up from just 49% in 2020.
Scheduling and assigning property care tasks with teams can be huge operating challenges for vacation rental managers, especially in the wake of the pandemic when operational workflows are overwhelmed by increased demands. This surge of work, which has not slowed down since the pandemic, has underscored the need for organized, customized, and automated workflows. Leading operators in the industry are already leaning into these processes to align their teams, delight guests, and differentiate themselves from the competition.
3) 94% of operators plan on addressing property and guest safety in 2021 through preventative maintenance, safety certifications, and training programs.
Managers are prioritizing the safety of their properties and renters more than ever before. Delivering on safety and quality has become the baseline for delivering on a great guest experience and cannot be overlooked. Managers are delivering on this promise by communicating critical information to guests, conducting routine preventative maintenance, independently certifying properties, and requiring staff to take safety training courses.
4) 66% of managers plan on strengthening their client services to differentiate their brand in 2021, prioritizing these efforts over marketing and acquisition.
As a property manager, maintaining client relationships is a core part of the job, and just like guests, owners' expectations have risen too. Developing a strong line of communication as a means of providing more transparency and reporting detailed work to owners drives higher retention, glowing testimonials, and more word-of- mouth referrals.
5) In 2021, 100% of managers agree that implementing additional tech resources like noise monitoring, PMS systems, property operation software, and smart locks will impact their business.
It’s unanimous. The additional challenges and opportunities resulting from the pandemic and rising client expectations now require operators to utilize technology to deliver on timely and quality property preparation. Choosing the right tech stack and integrations for your business can help managers be better positioned to delight their guests, scale their business, and boost their profitability.
Looking to read our full 2021 Property Operations Report? Download the insights here.