![]() ![]() What’s the secret to a good short-term rental business plan? For example, how can you know that your ad spend isn’t too high or that your average daily rate isn’t too low unless you set a business plan in place? This plan will help you lay of the land of your business while also making sure you’re setting measurable goals to gauge success and profitability. What you lose with some initial vacancy will be earned tenfold with a good vacation rental plan.īeyond making money, having a business plan for your vacation rental is what’s going to make sure you’re on the right track, reaching goals, and accurately measuring success. Before jumping into the deep end, though, keep in mind that the vacation rental business plan is what’s going to ensure you maximize your profit. ![]() Many eager vacation rental owners are ready to hit the ground running when they first buy their properties – who wouldn’t? Any vacancy or downtime on the property means more money that’s coming out of your pocket. Why do you need a business plan for your vacation rental property? Not only will the business plan help you define the strategy you will run your business with, but it will also be a useful tool to refer back to time and time again to make sure you going in the right direction. To put it simply, your business plan is an overarching set of rules, goals and frameworks that will help you to make decisions for your new business and its future. Contributing authors What is a vacation rental business plan? ![]()
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