Four Essential Steps for Successfully Investing in Bali Holiday Rentals
There’s just something special about Bali. Is it the Gods casting their magic spells? Is it the glorious blend of ancient traditions and modern cosmopolitan towns? Is it the bliss of an island or the uniqueness of the Balinese Hindu culture? Who knows – all we know is that Bali is one of the most popular holiday destinations in the world and the property market is booming. Getting into the Bali holiday rentals business might just be the best idea you’ve had all year. Here are a couple of key points to remember if your planning to invest in Bali Holiday Rentals:
Marketing is Key
Marketing is very important for all businesses but even more so for holiday rentals and especially for properties located in Bali, the world’s one and only ‘island of Gods’ where the competition is fierce. You need to highlight your assets, create accurate, captivating villa descriptions and get professional property photos taken. Your villa needs to stand out from the other villas as much as possible. Secondly, you need to look at the data and track analytics. Is your property easy to find? Just like the maintenance of your villa, you need to keep investing in the marketing of your villa. Find out what works and what doesn’t and go with the flow. What people are looking for is always changing and so, investing in the marketing of your Bali Villa is a constantly evolving dynamic.
Good Customer Service
Good customer service is not just about responsiveness to your customers or top-notch maintenance of your villa, it pays off to answer all inquiries coming your way, even when your villa is fully booked. Update them on the availability of your property and encourage them to check back later. With a kind response, people are more likely to try again some other time.
For people coming to stay in your villa, it always works well to add a personal touch or present your customers with a unique gift to remember their stay. Give personal recommendations on things to do, getting around and family-friendly activities. It’s little details like this that make all the difference and in the end, these extra efforts result in returning customers and referrals (super important stuff!).
You’re Not Just Renting Out Your Bali Villa, You Are Selling an Experience
UX – The User Experience. The holiday rental market is different from the regular real estate business. People are coming for a well-deserved holiday and they want to get totally pampered. This means, your villa needs to be picture-perfect with a good location and wonderful staff. Remember that you’re not just renting out a property, you are selling an experience. A warm welcome by the villa’s staff does wonders. Make your customers feel at ease and comfortable, knowing there is someone to look out for them. Gifts and personal recommendations also do magic!
Be Competitive and Offer Good Value for Money
There are scores of beautiful villas around and you can be sure your customers have looked at other properties. You have to know the villa market and make sure you are offering a competitive price. High occupancy rates are the goal and delivering good value to your customers pays off in the long run. You will get repeat customers, referrals and good reviews which is just what you need to keep guests coming in. Competitive prices and high occupancy rates are more effective than raising the price of your villa per night.
The right investment in the bricks and mortar is just the beginning. If you are going to align yourself with one of Bali’s top villa management companies, then the hard work is done. Then the key and let the experts do it all for you. If you plan to self-manage, welcome to the world of hosting holiday makers in Bali. THe progression of the process from sourcing the right photographer, creating an eye-catching description of the villa, being on hand for the meet and greet at check-in time, look for several ways of “upping” the UX as your guests’ reviews become the life blood of your investment. THe more that you invest, the more willing your guests will be to take the extra few minutes to write a very positive review which will in turn create more business for you and your investment.