How to improve repeat visits to your short-let apartment
If you are already neck deep or interested in the short-let business, then you are in the right place. Nigeria’s short-let industry is estimated to be worth up to 1 billion Dollars and has put a truckload of cash into the pockets of very many investors, which we’re sure you’d love to be a part of too.
“You can earn up to 120 thousand Naira every 3 days, and about 18 million Naira every year. “
As Lagos, Abuja and other major cities emerge as hotspots for short-term rentals, and attract both leisure and business customers, competition grows fiercer by the day. While some apartments never see an empty night, others average 3 to 8 bookings per month.
You don’t have to be in the 3-bookings-a-month category…
Because this post is your key to sustaining repeat visits to your short-let apartment.
THESE ARE 4 WAYS TO SCORE REPEAT VISITS TO YOUR SHORT-LET BUSINESS
Like any business, getting repeat customers or guests is not only great, but necessary.
After all, if you have repeat renters to your short-let apartment, you don’t have to spend the time and effort to find new renters.
However, there are a few things you have to put in place to ensure your guests are impressed enough to come back and pay an extra premium for your short-let.
- Price Your Rental Competitively
If you made it this far, you’ve already shown that you want to make profit. So, first things first, let’s talk about your price.
Competitive rates matter a lot with short-let rentals. Most times, customers would compare rates to find the best price, and a prospective occupant may look elsewhere if your prices are too high. On another hand, you definitely don’t want to leave profit in the hands of your competitors.
That said, it’s crucial to continuously monitor the short-let rental market and ensure you’re not overcharging or undercharging your tenants. The ‘right price’ is not above the average price, and not below the market price.
- Master the Art of Hospitality
There’s a secret that the big brands use to constantly churn in profit.
That secret is storytelling, which not only applies in their advertising, but even more importantly, in the experience you get when you visit. This is something you can use to keep your customers coming.
Providing a warm and welcoming environment is key to creating a memorable experience for your guests.
Pay attention to the small details that enhance their comfort and satisfaction. Take the time to understand their preferences and anticipate their needs, so that you can give them a uniquely tailored and personalised stay.
Offering exceptional customer service, being attentive to their inquiries, and promptly addressing any concerns further solidifies a positive guest experience. By mastering the art of hospitality, you create an inviting atmosphere that leaves a lasting impression, and encourages guests to return time and again.
- Keep It Personal (even if you’re a mile away)
How do you move from being the ‘place they stayed’ to the ‘place they stay’ anytime they visit? It’s simple – KEEP IN TOUCH!
You never know when your guests will plan their next trip, which is why you must not leave them any room between their peak and off seasons.
Keep in touch with everyone who’s visited your short-let. Send them celebratory messages and offer them exclusive discounts on birthdays or anniversaries.
- Offer Exclusive Incentives that are Hard to Resist
Who doesn’t love incentives?
As guests check out from your short-let apartment, be sure to share relevant incentives with them, which would encourage them to book with you again in the future. A free night, discounted rates, free breakfast or spa treatment can entice a first-time guest to return again and again to your short-let apartment.
You can rest assured that this will prove to be one of the best ways to increase repeat guests at your short-let, as well as boost your business efficacy. Remember, offering exclusive packages and incentives requires that you understand what your guests would like.
Following these guidelines guarantees you a 90% chance of repeat visitors and in turn, would convert your short-let apartment into a cash machine.
Don’t settle yet, there’s more…
One thing successful short-let apartments have that others don’t, is that they are located in an accessible yet very exclusive top-tier neighbourhood. Several highly profitable short-let apartments are strategically in choice locations to attract the right guests.
Now, you may think that it would cost an arm and a leg to own a highly profitable property in a choice area that’ll also bring you repeat guests, but we’ve built homes across Lagos and Abuja which cost you 30% less than the market price. Check out our offer pages to learn more.
