3 Things to Know About Holiday Vacation Rental Management in Santa Fe, NM
There were upwards of 40 million trips to New Mexico in 2022.
If you own Santa Fe real estate, you should consider turning it into a holiday vacation rental. With tourism on the rise, vacation rentals in Santa Fe are a great opportunity to make some passive income, but that doesn't mean it's going to be easy.
In today's post, we'll help you understand the right way to manage Santa Fe short-term rentals. Keep reading and you'll be able to take full advantage of Santa Fe's holiday visitors in 2024 and beyond.
1. Marketing Matters
Around the holidays, you can expect an influx of people coming into places like Santa Fe. With good weather all year, wintertime is a great time for holiday vacation rentals, but that's also when there's the most competition.
There are hundreds of vacation rentals in Santa Fe, so if yours is going to stand out, you need to invest in marketing. It all starts with your property listing, which should have plenty of professional photographs and a descriptive write-up that describes the perks of your property and the local area.
Put that listing on all of the most relevant vacation rental sites. If you've taken the time to invest in showcasing your property, you'll always be able to find quality renters.
2. Flexible Pricing
All successful vacation property owners understand the value of appropriately pricing their units. A lot of this comes down to understanding the market at different times of the year and adjusting the prices accordingly to appeal to all vacationers.
Flex pricing will help you secure bookings during the slowest times for tourism. It'll also help you maximize your rental income around the holidays and other busy times of the year. Bringing in more money during the holidays will help balance out the lack of income during the slower times.
3. Be There for Guests
Lastly, securing guests and opening your vacation rental to them isn't enough. You need to provide an optimal guest experience so that they leave your property with nothing but good things to say. Reputation matters and your reviews on the listing sites will determine your reputation.
So, what do quality guest services entail? The most important thing is being present for your guests. If they have any questions or concerns, you should be there to answer them promptly.
It's also important to have someone around to deal with any issues that may arise during a stay. If you're not a Santa Fe resident, you should strongly consider hiring a property management company to look after your guests.
Property Management for Your Holiday Vacation Rental
A Santa Fe holiday vacation rental can be the perfect addition to your real estate portfolio. If you follow these tips, you'll be able to secure bookings steadily and keep money flowing into your property. It can be tricky to do an optimal job when you're not available, however.
Property management is the best way to run a vacation rental in 2024. At PMI Santa Fe, we can take care of all aspects of vacation rental management from marketing to guest services. Contact us today to learn more about what we do and how we can maximize your investment property.