If you’re just starting out in the vacation rental industry or have been managing properties for a while, finding ways to save money can be a challenging and elusive task. You’re essentially faced with a two-sided problem: identifying strategies that reduce business expenses while ensuring that the quality of the guest experience remains uncompromised.

While cutting costs might seem straightforward, doing so without affecting the overall quality of the stay requires careful consideration and strategic planning. It’s not just about finding cheaper alternatives but about implementing solutions that enhance efficiency, streamline operations, and maintain or even improve guest satisfaction.

Balancing these priorities involves leveraging technology, optimizing operational processes, and investing in tools that offer long-term benefits. For example, integrating smart home devices and automation can reduce manual workload and operational costs, while also providing a more consistent and high-quality experience for your guests.

Ultimately, the goal is to achieve cost savings that contribute to a sustainable and profitable business model, without compromising the positive impressions and comfort that keep guests returning.

Ways to Save on Your Short Term Rentals

One interesting way of saving money is investing in cheaper energy solutions for your property. Considering that longer term stays are becoming increasingly more popular, you will have to adapt to guests’ energy habits. With the increase in energy spending, an investment in a cheaper energy solution like renewable sources may have a good impact for the long run of your business. Although it is a high initial cost, the eventual pay off will outweigh the cost.

Another saving tip also has to do with energy saving, and it’s a little easier to do. Depending on where you live, your property may run either warm or cold during certain times of the year. If you can figure out what aspects of your property have temperature issues, you can then solve them before guests crank the A/C or heat. Adding insulation strips around windows or insulating panels over radiators will ensure proper heating and cooling without having to increase costs majorly.

Sometimes the easiest cost saving techniques are just in front of you, and you didn’t even think about it. On one of our Hospitality on Autopilot Clubhouse sessions, one speaker mentioned that they were able to cut costs by investing in a good set of blinds. Radiant heat that pours in through windows can increase the temperature of a unit, and as such may have the guest increase their energy consumption to counter it. By adding a good set of blinds, you can minimize the amount of heat that pours in.

If you have any suggestions for cost saving tactics that don’t minimize guest experience, feel free to email us at contact@ensoconnect.com.

With yesterday being Earth Day, we thought it would be fitting to talk about becoming a greener host.

What’s involved in becoming a green host

Being a property manager is simple right? You post you property online, people come, people leave, you make money… not exactly. As current property hosts can attest, there are endless hidden utility expenses that need to be managed, and with those come hidden costs. To name a few: gas, water, plumbing, telephone, waste management, cable TV, streaming services, security systems, WIFI and the list goes on. But wait, we are missing one… electricity.

Electricity is often an overlooked but essential component of managing rental properties. It’s not just about having the lights on; it’s about ensuring all electrical systems are functioning properly to provide a comfortable and safe environment for your guests. From heating and cooling systems to kitchen appliances and entertainment systems, electricity plays a pivotal role in every aspect of your property.

Managing electricity expenses involves regular monitoring of usage, investing in energy-efficient appliances, and occasionally updating electrical systems to meet modern standards. This not only helps in controlling costs but also enhances the overall guest experience. For instance, installing smart thermostats and energy-efficient lighting can reduce utility bills and add value to your property.

To effectively manage these hidden costs, consider implementing energy-saving measures and keeping a close eye on utility bills. Regular maintenance and upgrades can prevent unexpected expenses and ensure your property remains attractive to potential guests. By being proactive in managing these utility costs, you’ll be better equipped to handle the financial aspects of property management and maximize your profitability.

So, what makes electricity different?

For most if not all of the utilities previously mentioned above the user is at the mercy of the provider. If you don’t pay your bills at the prices set by the provider, you no longer get the luxury of receiving that service. For the longest time electricity had been no exception to this rule but, recent technological developments have made it possible for users to break free from this unfair arrangement.

Introducing microgeneration. Microgeneration is the production of electricity at the point of consumption using methods such as solar, wind, tidal, geothermal, etc. With electricity rates on a steep rise in the coming years it may be time to invest in an energy solution that will allow you to sell excess energy back to the grid and actually profit on your tenant’s energy usage!

Additionally, properties listed as being environmentally friendly are viewed as favorably compared to ones that are not. It’s a simple give and take; if you are offering ecofriendly amenities, you will require less effort to acquire renters/sublets. Tenants will be proud to know they are using green energy while you, the host, profits from lower electricity costs.

If you have any questions or are looking for more about microgeneration and its benefits visit Borrum Energy Solutions.