It happens. Owners excitedly launch into buying the property, doing it up, listing it and getting their first bookings that they overlook this one important aspect of being a holiday home owner.
They overlook their Holiday Home Owner Mindset.
What is holiday home owner mindset?
Holiday home owner mindset is you; more specifically your way of thinking, your opinion, your attitudes, your beliefs, your goals, your dreams.
Why is it important?
The mindset of an owner is crucial . It’s at the core of your holiday rental business. Without the right owner mindset your business won’t grow and you won’t make the money that you want to make from your holiday rental.
Here are 4 key owner mindsets you need to adopt for your holiday rental business to be a success.
Business Owner Mindset
Because that’s what you are. Even if you holiday there yourself and it still feels like your second home, once you market it and want to earn money from it, it needs to be run as a business. This is from a practical cost and expenses point of view but also how you view it. Put dedicated time aside to building it and growing your holiday rental business, just like you would with any other business. Day to day make decisions that are right for your business, for example, allowing dogs because it will open up your market, even though you’re not a dog person yourself.
Investment Mindset
Invest time and money. Invest in professional photography, spend time (and a bit of money) getting the styling right, not just adding any old bit of furniture to save money. Don’t cut corners when it comes to maintenance or repairs – it will come back to bite you on the derriere if you do! Invest in a website to showcase your property. Invest not just money but your time too and embarking on a learning curve of new skills and technology if need be.
Locality Mindset
You need to have a passion for your property, for the town/village/area it’s in, for other local businesses and the wider community and nearest towns. Encouraging visitors to stay with you is as much about the local area as it is your fantastic cottage. You have to know about and want to share all there is in your area for holiday makers to discover, taste, visit and enjoy. Let your passion shine through.
Guest Focussed Mindset
Always over deliver. Meeting guests expectations is a given, you need to exceed them. This is not just in the quality of property you provide but in the way you as an owner interact and help your guests. You must come from a place of giving and helping at all time – on social media, in your emails, in the holiday experience itself. At each stage give the holiday home owner more than what they were expecting, always add value to your guests holiday experience.
You can see why owner mindset is so important and such an intrinsic part of being a holiday home owner. So intrinsic it can become invisible and get overlooked.
Don't overlook how important holiday home owner mindset is to your holiday home's success Click To TweetDon’t let this happen to you and your holiday rental business!
I think you’re right, a lot of people – particularly those who use their holiday home a lot and see it as a second home – forget to get into a business frame of mind. It’s all very nice letting your friends and family stay there rent free but when it comes to earning money from your holiday home you have to think of it like a business – a business that has the potential to be very lucrative if you run it right!
I agree with you totally Anna. We’re in it for the money or what’s the point!