According to National Geographic, in 2023, the Great Smoky Mountains National Park welcomed over 13 million visitors. No wonder it's the country's most visited national park!
All those figures should prompt you to rent your Gatlinburg property to vacationers, considering the city serves as a gateway to the park. And the best hands-free way to do this is to work with reputable vacation rental management companies.
To that end, the PMI Smoky Mountains team created this guide on vacation property management companies. Read on to learn how they can maximize your rental income.
Boost Income With Competitive Pricing
Short-term rental management experts in Gatlinburg can help maximize year-round occupancy by pricing rentals right. One strategy they use is a comprehensive rental market analysis.
Market analysis lets the pros establish competitive rental rates. They base prices on the performance of comparable properties in the same or nearby areas.
With competitive rates, your rental becomes more attractive to potential guests. On the other hand, overpricing can put off guests. You wouldn't pay much more if you could get something similar for less, would you?
Improve Profits With Dynamic Pricing
Another technique used by expert vacation rental management services is dynamic pricing. It involves strategic rate increases and decreases based on market demand and season.
Gatlinburg attracts tourists year-round. However, according to the National Park Service (NPS), 2023's busiest months were June to October, with over a million monthly visits!
Summer is a hit because the mountains provide a reprieve from the heat. Come September and October, Gatlinburg offers majestic fall foliage scenery. During these months, property managers can raise rates to boost rental income since the demand for accommodations is high.
When fewer tourists are around, your manager can still get visitors to book by marketing your property with lower rates. You'll earn less during the low season, but higher profits during the peak season can compensate for this.
Maximize Income by Providing Premier Guest Experiences
Marketing is part of the vacation rental services provided by property management companies. They optimize your listings to enhance your property's visibility. However, their job doesn't end there; they also ensure every guest enjoys a premier experience by:
- Promptly answering guest inquiries about the property
- Ensuring guests come "home" to a clean, well-maintained property
- Staying in touch with every guest throughout their stay
- Providing expert local advice by carefully curating local guides
- Giving guests a warm welcome with welcome baskets
- Creating a family and pet-friendly vacation haven
All those strategies can help your guests have a memorable and wonderful time on your property. Happy, satisfied guests are likelier to leave positive reviews. The more positive reviews you have, the more free publicity your rental gets, and the better its visibility and potential income.
Explore Vacation Rental Management Companies
Now that you know the many benefits vacation rental management companies provide, it's time to pick one you can trust.
PMI Smoky Mountains is one such company in Gatlinburg, TN. Our experts dedicate themselves to the success of each of our clients' vacation rentals.
We're also proud of the consistent 5-star reviews we receive. We strongly believe they're a testament to our high-quality, full-service rental management solutions.
Call us today to learn more about what we can do for you. We'll happily give you a free property consultation!
