Saturday, April 14, 2007

Setting Expectations and Truth in Renting

I had the opportunity today to have a lengthy discussion with an property manager at North Coast Village in Oceanside, CA today while waiting for a refrigerator delivery (one of the thrills of owning a vacation rental). We were discussing demand, pricing, advertising, honesty, and disclosure. Demand for 2 bedroom units is strong in all categories as there is a product and price for every person and every budget. Some guests want their units to be top of the line in all aspects, and some are happy to just be staying in a property that has great amenities and sits on the sand. The key to guest satisfaction, we both agree, is setting guest expectations.

Calling a noisy unit quiet is a mistake as is touting a dated unit as luxury. Not everyone wants to pay for a full ocean view and plasma TV, but everyone wants to get what they EXPECT. I'll never forget those guests who expected something that I didn't provide in a property: an icemaker, air conditioning, a TV in the bedroom? Did I somehow lead them to believe these were at the rental? Or did I just not mention the lack of these amenities? I'll also never forget the photos the hotel in Nice France that lead me to believe they were on the water, but were in fact across a busy street. The truth is, most property managers, marketers, and owners try very hard to be truthfull, but finding out the guest's expectations as well as setting those expectations is the key to success in vacation rentals!