5 Post-COVID Trends for the Holiday Rental Industry

People are still eager to take time for themselves and escape the additional stress that the pandemic has created. That said, the coronavirus pandemic has significantly impacted the global travel and hospitality industry. Vacation rental business owners and managers need to be aware of some emerging holiday rental trends as people resume their holiday plans. 

#1- The Post-COVID Holiday Rental Trends

In the short term, the vacation rental industry continues to experience uncertainty and quickly changing dynamics. Current restrictions are very much hyperlocal and prone to change within a 24-hours. International travel will be more restricted for the foreseeable future, with additional limits for guests from specific hotspot countries. Quarantine rules are discouraging international visitors. 

The current COVID climate does not mean people are not travelling or showing an interest in booking their holidays. Holiday rental trends show that as travel bans persist in the short-term, people who travel are more likely to be domestic travellers going a short distance for their vacation. The uncertainty and social distancing guidelines encourage these local visitors to holiday in places where they can get away from it all. 

As our borders begin to reopen and coronavirus transmission concerns wane, vacation industry experts expect bookings in the holiday rental market will rebound. Short-term rental owners that can weather the slow period may experience a dramatic increase in demand. Over the long term, holiday home operators may regain revenue lost in the economic slowdown. 

#2- High service expectations

Something consistent before and after the coronavirus pandemic is guest expectations about the quality of the holiday home experience. The vacation rental industry is highly competitive. Factor in the uncertainty regarding our economy and travellers searching for holiday opportunities that will give the most bang for their buck. They expect a stellar guest experience.

Before the pandemic, delivering an exceptional guest experience was built around providing amenities. Guests still want amenities but now they are more interested in the quality of the property because they are more likely to spend time at the location than travelling around to the area’s attractions.

Additionally, guests expect closer attention to detail on cleaning standards and safety measures. Guests want reassurance that the property has been thoroughly sanitised before their visit. Pay attention to every detail. Hiring a team of professional cleaners can help provide guests with peace of mind and improve the rental experience. Consider explaining your coronavirus prevention steps in your property description. 

#3- Reduced in-person engagement

It’s going to be months before we are back to a normal level of socialising. Among the holiday rental trends is reduced in-person engagement between property owners and their guests as a measure of protection. 

To that end, property owners are adopting more technology and automation services that support a contactless experience. Adding keyless entry or smart locks is a prime example of maintaining property security while avoiding an in-person key transfer. Another option is a property orientation video sent to guests ahead of time, which is part of automated guest communication. Guests and owners also start using video conferencing to troubleshoot problems before sending an in-person handyman.

#4- More rental opportunities

The adapting holiday rental industry represents opportunities for short-term rental property owners. Travellers are turning away from hotels and resorts because they are more likely to have crowded environments and require more person-to-person touches. The health risk is higher at these properties compared to booking holiday cottages on a beach. 

For this reason, some experts predict short-term rentals will be one of the fastest-growing sectors of the hospitality industry. Now is the time for short-term rental owners to capitalize on the high interest in remote holiday locations offering more privacy.  

Owners can make short-term rentals more appealing by catering to millennials, the short-term rental market’s leading customer. Flexibility is something of high-value for consumers considering travel today. A flexible cancellation policy gives guests some peace of mind during turbulent times. Other considerations for widening your guest pool is to make the rental pet-friendly or allowing for Airbnb’s instant booking. Travellers want options when choosing to holiday during the pandemic.

#5- Optimising with short-term rental technology

Just as guests need flexibility, short-term rental owners must keep up with the shifting market and local restrictions. Smart, third-party tools are how short-term rental owners handle rental property management and maximize their potential revenue. 

Navigating holiday rental trends

People are still interested in taking holidays and want to do so safely, which is why they turn to short-term vacation rentals. It’s important for holiday homeowners to stay on top of the holiday rental trends and health guidelines issued by local officials. By using a well-thought-out property management strategy, you can ease guests’ concerns, provide exceptional service, and help re-invigorate the hospitality industry. And by using 4P’s of vacation rental marketing you will be able to maximize your reach and win more bookings