The most recent data from the National Park Service (NPS) shows the Great Smoky Mountains National Park registered 13.3 million visits in 2023, 3% higher than in 2022. Over the last ten years, the park's annual visits reached nearly 12 million.
With three entrances, Gatlinburg, TN, is undoubtedly a primary gateway to the national park. So, it's no wonder many park visitors choose the beautiful town as their base camp.
As a Gatlinburg vacation homeowner, you should use your property wisely by renting it to travelers and maximizing rental income.
Our team at PMI Smoky Mountains will teach you how to boost property earnings with our rental income tips, so please read on.
Understanding Market Trends
One of the most crucial ways to increase rental profits is to understand Gatlinburg's vacation and tourism trends, as it will help you:
- Identify the best seasons for bookings
- Set competitive prices
- Establish whether there's a market for your preferred target demographic
Another crucial consideration is tailoring your property marketing strategies to your target demographics's needs. Remember that families have varying needs from couples and solo travelers. For instance, families may want child-friendly amenities, while couples may be more into setups for romantic getaways.
Welcoming Pets
Dogster.com says that instead of leaving their furry family members behind with a pet sitter or paying for boarding, nearly eight in ten Americans (78%) travel with their pets yearly. For this reason, allowing pets in your vacation home is an excellent way to maximize rental yield.
However, please also invest in adequate property protection. For example, you should at least get pet insurance (for damage and liability).
Upping Your Property Listing and Marketing Ante
Optimize rental strategy results by ensuring your property listing and descriptions wow potential guests within the first few seconds they see it. Make sure you:
- Have well-written, descriptive, and factual listings
- Use high-quality photos that showcase the best features of your property
- Include detailed descriptions
- Answer common questions (e.g., about amenities, proximity to attractions, and local experience)
Investing in Full-Service Management
If you want to save time while maximizing your Gatlinburg property's income potential, consider enlisting a full-service vacation rental management firm. They can handle everything on your behalf, from:
- Marketing your property
- Coordinating bookings
- Ensuring your property is always guest-ready
- Overseeing property maintenance
Moreover, a professional management team can provide insights and analytics, helping you continuously fine-tune your rental strategy. Their experience in the local market can give you a competitive edge, leading to higher occupancy rates and better guest reviews.
Start Maximizing Rental Income With These Tips
Maximizing rental income involves understanding Gatlinburg's market trends, welcoming pets, boosting your marketing strategies, and partnering with a full-service property management firm.
So, consider exploring PMI Smoky Mountains' full-service vacation rental management solutions as early as today. Our company is proud to continuously receive positive, 5-star reviews from our happy customers, including property owners and guests. Our mother-and-son owners, Teri Peplow and Jake Bowers, bring years of professional expertise in short-term rental operations and management, business and brand development, and property maintenance to the firm.
Reach out today so we can get started with your free rental analysis and consultation!
