Are you struggling with a vacation rental in Atlanta that’s not generating enough income? Don’t worry; you’re not alone. Thought Atlanta isn’t known for being a vacation destination, there are thousands of people who visit yearly for conferences, sporting events and more. Many vacation rental owners face this issue though, and it can be frustrating and stressful. However, there are solutions that can help you turn things around and make your vacation rental profitable. In this blog, we’ll discuss five solutions to help you with your low-earning vacation rental in Atlanta, and how selling your property directly to ATL Cash Home Buyers may be the best option for you.
1. Re-evaluate Your Pricing Strategy
One of the first things you should do if your vacation rental is not generating enough income is to re-evaluate your pricing strategy. You may be charging too much or too little compared to other rentals in the area. Do your research and see what other vacation rentals in Atlanta are charging for similar properties. Adjust your pricing accordingly to make your rental more competitive with other short-term rental properties listed in your area. If you’re somewhat new or you have had your rental property for a while but never really ran the numbers, there are a couple areas that will help you hone in on these numbers. The first place to go is where people are actively booking rentals (AirBnB or VRBO). Search for homes that fit your property’s characteristics and see how they differ and where they stack up. Another place is AirDNA. If you own a short term rental and you’re not using this site, you are not setting yourself up for success. However you approach it with your vacation rental in Atlanta, you need to know your numbers. If you’re having troubles, reach out to us at ATL Cash Home Buyers and we can help.
2. Improve Your Marketing Efforts
Another solution is to improve your marketing efforts. Make sure your vacation rental is listed on popular vacation rental sites like Airbnb, HomeAway, and VRBO. Use high-quality photos and write compelling descriptions to attract potential renters. So many rental owners thrown up terrible photos and don’t paint the picture for the person who’s going to be renting your home. Take the time to do it right and get good, professional photos taken. Spend some time writing about how amazing your place is. It goes a long way. If you’re doing all this, you can also consider investing in paid advertising to increase your visibility online. You just want to make sure your marketing costs don’t obliterate your profits. If you’re doing all of this, it may be time to consider that you’re in an oversaturated area.
3. Offer Additional Amenities
If your vacation rental is not standing out from the competition, consider offering additional amenities to attract renters. For example, you could provide beach chairs, bicycles, or a grill for outdoor cooking. These extra amenities could be the deciding factor for renters when choosing between multiple vacation rentals in Atlanta. That said, amenities such as a hot tub or lawn games may result in extra maintenance costs. Though these costs may rise, your profits may rise because of it too. So, do the research and see what makes the most sense. Nobody said owning a business was easy and having a vacation rental is owning a business.
4. Hire a Property Manager
If you’re struggling to manage your vacation rental in Atlanta on your own, consider hiring a property manager. A property manager can take care of everything from marketing and booking to cleaning and maintenance. While it may be an additional expense, it can save you time and stress in the long run. Be sure to thoroughly inspect reviews and references before hiring someone to manage your home.
5. Sell Your Vacation Rental to ATL Cash Home Buyers
If none of the above solutions work for you and you are tired of sinking money into a short-term rental property that simply isn’t paying off, then it may be time to consider selling your vacation rental. Selling your property directly to ATL Cash Home Buyers can be an excellent option if you’re feeling frustrated or overwhelmed with your vacation rental. ATL Cash Home Buyers specializes in buying homes directly from homeowners in Atlanta, and the process is hassle-free and straightforward. By selling directly to ATL Cash Home Buyers, you can avoid costly repairs, commissions, staging, marketing, and negotiations. You can also sell your vacation rental in Atlanta quickly and in as-is condition.
Selling your vacation rental to ATL Cash Home Buyers can be a great solution if you’re facing financial difficulties or a sudden change in circumstances. It can provide you with the cash you need to move on to the next chapter of your life.
If you are struggling with a low-earning vacation rental in Atlanta, there are solutions that can help. Re-evaluating your pricing strategy, improving your marketing, offering additional amenities, hiring a property manager, and selling your vacation rental to ATL Cash Home Buyers are all viable options. Consider your situation and choose the solution that works best for you. Our team is happy to make you a fair and straightforward offer, free of any cost or commitment. Give us a call today to find out what we can offer you! 404-439-9984
