5 things about short term rentals you might not have known

You can gather a LOT of data around your short-term rentals, and Staykeepers has a wealth of data from clients around the world. But it’s not the amount of data that matters, it’s what you do with it. As we do with each individual client, we review short stay trends and insights across our business.

From this analysis, here are five things you might not know about short term rentals:

The average duration of stay

At Staykeepers we have a minimum stay duration of 3 days, so bear that in mind. We do this to ensure that our clients aren’t constantly cleaning units and managing check-ins. It is also another layer of protection to avoid party-goers, alongside our guest vetting services.

By reviewing the average duration of stay, you can:

  • See trends across your portfolio, comparing how different buildings are performing - and begin to see why. Is it the location and nearby attractions? Is it the type of accommodation you are providing (e.g. studio, ensuite)? You can then review how you can harness this knowledge in your marketing.

  • It’s also wise to look at how the duration of stay fluctuates throughout the month, again to utilize this information in your marketing and pricing strategies

Check-in dates

Combining the average duration of stay, and the dates that guests book for check-ins is where you can discover powerful insights. These insights can inform the strategic pricing of units to account for guests’ booking behaviour.

We do this in our free Q1 report (available here) and discuss how guests were looking for longer stays and payday holidays at the beginning of this year.

You can get the full details which have been shared on Yahoo Finance & European Business Magazine.

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Top locations for reservations

With a bigger portfolio, countries, and cities come into play. Measuring the top locations for short stay reservations highlights area trends that can be utilized in the pricing of units. It also provides valuable intelligence from your business to inform future development build or purchase plans.

Top marketing channels for reservations

Unless of course, you are utilizing Staykeepers’ tech which can market your units on 450+ channels simultaneously, and automatically updates unit availability.

As shown in our free report, our clients saw a 128% increase in reservations simply by adding a second marketing channel. 

Guest Demographics

Last but not least, looking at the types of people staying in your buildings is crucial for targeting the right customers at the right price. Over time, you can see trends in the demographics. For example, you might attract more business travelers during the summer months and more students in the winter months.

Because here’s the thing - from analyzing our demographics, we know that students want flexibility and are willing to pay for it. We break it down in the free report available here.

If you would like to speak to the team about increasing your revenue with short-term rentals, click here. We can market your units, vet all guests and liaise with your onsite team. 

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