How To Get More Serviced Accommodation Bookings?
Do you know how to increase demand for your Serviced Accommodation units?
Discover the top five things I do to ensure that I maintain high occupancy levels…
In today’s episode, I will be sharing five techniques that I have implemented in my Serviced Accommodation properties to keep my occupancy levels high.
I’m still highly active in property investment, specialising currently in BRRRR’s and, of course, Rent-to-Rent. For HMO and Serviced Accommodation, I also deal source, and this is where I share everything about my journey so far.
Serviced Accommodation is an exciting model, and there’s huge potential to create massive cash flow. However, one of the biggest dangers, especially with a Rent-to-Rent property, is not achieving high occupancy rates, which is why I wanted to dedicate this episode to this topic.
If you haven’t already listened to my other Serviced Accommodation podcasts, here’s a link. It may be worth giving those a listen first to get the most out of this episode.
Here are my top five tips:
Number One
Each SA in your portfolio needs a Google My Business, and this means why people search on Google, you are likely to come across your property on local search and google maps. It will also link straight through to your website and your channel managers so that people can book directly from google.
*Tip - Don’t rely solely on Travel Agents, a) because of commissions and b) because you are missing a massive opportunity with direct bookings.
Number Two
You will need a Channel Manager, and you will need to be featured on as many online travel agents as possible. The Channel Manager makes this process smooth and has a central system to control everything for all online agents.
*DM me on Instagram if you would like a channel manager recommendation.
Number Three
Make sure you have impressive photography. You need to stand out in the ever-growing and increasingly competitive industry. You need to make sure your titles stand out and that your descriptions are good. Of course, reviews are an element that has the most significant impact on the success of your listing. You need to make sure it looks incredible!
Listen to this weeks episode to discover the final two ways to keep occupancy levels high in your Serviced Accommodation properties…
Available on iTunes, Google, Spotify and others or click “play” on the player below!
Podcast Transcript↓
I'm Simon. And a few years ago, I decided I wanted to make a change. I wanted to create a passive reoccurring income to support me and my family. And a legacy for the future, a future fast forward two years, and I've managed to generate over 10,000 pounds worth of monthly passive income. I've set up the business, scaled the business, and now I've systemized the business to free up my time.
[00:00:33] So join me to find out how I've done it. How well does the dominion every day and how you can do it too.
[00:00:56] How to get more serviced accommodation bookings. On today's episode, I'm going to be sharing five techniques that I implement five things that I stress to keep my occupancy rates high. If you're brand new to the podcast, please do subscribe. And if you're not already head over to YouTube and subscribe to our official YouTube channel.
[00:01:18] Simon Smith on line four weekly. Content me actually showing what I talk about in the podcast. And that's what it was all about. I pride myself on actually being extremely active in property investment in terms of BR Oz, of course, rent to rent. On the HMO NSA side, I also deal source. We're very, very active and the podcast and the YouTube, where to share the journey and give back and try and help as many people as possible.
[00:01:55] So please do subscribe on the podcast on the YouTube for weekly content. And I thank you so much for the support. So serviced accommodation is. Such a. Funny old game, should we call it because there's huge potential to make massive cashflow, but one of the biggest dangers and the biggest fear factors is getting a unit, especially a rent to rent unit and not being able to get the occupancy rates.
[00:02:27] So I thought I would do an episode dedicated to how you can put things in place to make sure that you can fill your units. Now, before I do go into these files, Ways I would invite you to go and head over to a couple of other essay episodes I've done and I'll link them in the description. There's one and a half.
[00:02:50] Sourced them. Um, there's one on how to crunch the figures. And I think there's another one on how to research your areas, because all of this that I'm going to talk about in this episode needs to tie in with that other content, for it to really count and make sense. Um, and as always, disclaimer, this is not advice.
[00:03:10] This is just my experience. You know, please listen, um, you know, take some things on board, but do your own due diligence always, please. So number one, each essay unit you've got needs a Google business. So what that means is when people go on Google and they search, you know, serviced accommodation in wherever that you are likely to come up on the map.
[00:03:38] Which is gonna then need to be linked to our website through your channel managers so that people can book die. Wrecked top, top tip don't rely purely on the online travel agents, a cause of commissions and B, because you're missing a massive trick. Direct bookings is where it's at. Number two, and I touched on it.
[00:04:00] Then you're going to need a channel manager because you are going to want to be on as many of the online travel agents as. And you are going to want that process to be as smooth as possible. And all the channel manager is, is it's a central operating management system that puts you on all the online travel agents and allows you to control it via one place.
[00:04:25] And if you want more information on that, I've got a fantastic link at one of the biggest channel managers. I won't say their name, um, DME on Instagram, and I will introduce. Um, that's cool. I can do that for you. Number three, just to impress photography is key, and you've got to adjust your servers to commendation properties so that it can stand up in an ever, ever growing industry, which can get competitive.
[00:04:54] So you need to. Your property is photograph your, is and sell the benefits, make sure that your descriptions are good, make sure your titles stand out. And then of course, you know, make sure that you're getting good reviews. So quite a lot of tips in that one, but you want to adjust the property, make sure it looks amazing.
[00:05:16] Get all your buyers and descriptions and titles done, and then make sure that you getting your reviews up so that your presence is fell. Number four often overlooked repeat bookings. It is far for ease. To get a repeat booking than a new booking. So make sure that you keep your current guests happy and give them a call.
[00:05:40] So when you're speaking to them about checking in or this, that, and the other, ask them why they're in town, if it's just this week or anymore, and invite them to get a 10% discount, next time they're in town. If they book direct with you great technique, and you can build up a bit of a database. Of clients so that you can, you know, you can build your business.
[00:06:04] People always say, how do I get more direct bookings? And a lot of it is that capturing data, getting a repeat information, repeat information, repeat bookings and building relationships, which by the way, involves being an essay for a while. So be patient and number five, you got to get on the ground. As times when you got to get your hands dirty, drive around some travel lodgers javelins or whatever they call them.
[00:06:33] Uh, go, go van spot in, you know, go down to some construction sites, speak to some local businesses and try and just be proactive in the process. So to summarize number one, Google business, make sure you've got a presence on it. To book, direct number to channel manager, make sure that you've got one to make your life easier and give you maximum presence.
[00:06:56] Number three, Jess, to impress and make sure that you get those good reviews. Number four, repeat bookings, follow up with all guests to see when they're back in town. If they're in town working, you'll find that some people only book one week or one day or two days. To try before they commit to long booking.
[00:07:16] So always be on alert for that. And number five, get on the ground. When I first started, I was driving to construction sites and I made some amazing links and connections that I still work with now. And I've got construction guests that have been with me for over a year, paying nightly rates every week.
[00:07:36] I do a podcast post on my Instagram. It's on the Monday. So. Go back on the Instagram at Simon's before line, find the post and less carry on the discussion over there.
[00:08:01] Thanks for listening for more information, check out Simon Smith, online.com. See you next time.