Toronto’s vacation rental market is a highly profitable investment. Many people invest in real estate, rent it out short-term, and sell it for a substantial return when sold. Airbnb properties should pay for themselves with money left in your pocket. To successfully bring the maximum amount of money in per month, you must know how to market a vacation rental property in Toronto.
You might consider taking this on yourself, but you can outsource to professionals if you have a full-time job and other obligations. Marketing your property isn’t as easy as you might think, especially because there’s competition. Our guide to marketing vacation rental property in Toronto will give you all the information you need. You can try it out yourself or get help from professionals.
Who Is Your Target Market?
Before marketing vacation rental property in Toronto, you must understand your demographics. You need to know what they’re looking for and their pain points to solve their travel problems. Your target audience generally looks at your demographic, including:
People on vacation have a $200 nightly budget.
Business travellers on short-term work assignments.
People are newly relocated to the city and haven’t found a permanent place to live.
Homeowners are in between homes or having work done in their own homes.
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Create a Quality Description
Your property description must be on point. It should be at least 300 words long, informative, necessary, and impactful. The description should be easy to read and give potential guests the feeling of what it would be like to stay at your property. If you have difficulty writing, some professional writers specialize in creating compelling descriptions of vacation rental properties. Have an effective sales pitch that appeals to your target audience.
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Have Great Photos
Posting great photos is part of marketing a vacation rental property in Toronto. Pictures are worth a thousand words. Instead of a long description, let photos showcase your home. You’ll want eye-catching images wherever you list your rental property. To create a welcoming environment, tidy, organize, and clean before the photo shoot. You may even want to consider having professional housekeepers perfectly clean your home.
If you know you don’t take high-quality photos, you may also want to hire a professional photographer. Photos should be taken during the day so you can work in natural light. Make sure all curtains and blinds are open. Natural sunlight greatly improves images and makes everything look more welcoming.
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Post Your Listing
There are many platforms where people look for places to stay. However, the vacation rental market in Toronto is exclusive to Airbnb, so this is where you’ll need to post. The site makes it easy to load written content and images. You can apply discounts to attract more travellers and use other tactics that bring attention to your property. You can also use social media to create awareness of your vacation rental property.
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Figure out the Perfect Price Point
No matter how good your photos and description are, you can lose out on potential clients if you’re not priced right. Even if you price your property lower than others, this can deter travellers. There is a sweet spot, and prices fluctuate based on demand. It’s difficult to know exactly what this price should be. Having a professional property manager to help you with this can be advantageous. Part of their team will include pricing analysts that can figure out what your nightly rates should be throughout the year.
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Give Guests an Incredible Experience
Assuming your rental property already has guests, you want to wow them with a fantastic experience every time. This will lead to positive testimonials and ratings, which are critical for ranking your property so it gets seen by more people. Check-in/check-out should be seamless; everything should function properly and be impeccably clean. Added a few extras, including a concierge book and information about the area, which is excellent. If you work with a property management company, they can help with guest satisfaction. An excellent reputation for guest experience is high on the list of things that attract more guests.
If you have a lot of time and have committed to marketing your property, these are the top ways to market your vacation rental property in Toronto. If you think you need help with marketing aspects, you can outsource. If you want a whole package deal where professional photos are taken, cleaners are booked for every check-in and guest service is on your side, you may want to consider working with a property management company. Many other property rentals in your area will work with professionals, so you may need to do the same to stay on top of the competition.
Once you’ve successfully marketed and started booking your vacation rental property in Toronto, you may find that managing the day-to-day tasks becomes overwhelming. If that’s the case, consider outsourcing to a reputable company like Guestable that offers comprehensive Toronto Airbnb management services to streamline your operations and maximize your property’s potential.