5 Best Practices for Communicating with Owners
Summary
This article from Beyond Pricing offers 5 best practices for communicating with owners of short-term rentals, emphasizing proactive, clear, and personalized communication. Hosts should use these tips to build trust and strengthen relationships with their owners, which is critical for long-term partnerships.
Key Insights
- •Regular, proactive updates prevent reactive questions that can overwhelm teams. Using the 'Compare to Market' view can help frame success and identify opportunities.
- •Transforming data into simple, story-driven updates is one of the most effective ways to scale communication and build trust.
- •When owners see a dip in performance without context, they may assume something’s wrong. Market data helps you shift that narrative from defensive to educational.
Action Items
- ✓Use the “What, Why, What’s Next” framework: What happened, Why it happened, What’s next.Effort: lowImpact: medium
- ✓Establish a reporting rhythm using Owner Insights (monthly or quarterly).Effort: lowImpact: medium
- ✓Segment your owners into groups (Investor, Legacy, Passive) and tailor your reports accordingly.Effort: mediumImpact: high
Tools & Resources
- →Neyoba: Use Neyoba to instantly generate owner-ready summaries that are simple, professional, and easy to send.
- →Owner Insights: With Owner Insights, property managers can automate reporting, track key metrics, and clearly show how strategy drives results. Paired with Neyoba, those insights become clear, conversational messages.
More from Hosting Operations
MakeMyTrip and Ixigo are partnering with OpenAI to integrate AI across their platforms. This collaboration aims to revolutionize the travel experience, supporting features like trip planning and booking. The integration is designed to personalize and convert inspiration into confirmed bookings, offering personalized outcomes at scale.
An Airbnb host faced an unusual guest request, uncovering a potential 'big problem' impacting their operations. Details of the odd request and the subsequent realization about its negative consequences for the host's business model are presented. Further investigation revealed a significant issue that hosts should be aware of.
This article from WDSU focuses on identifying potential scams related to spring break travel. It highlights red flags travelers should be aware of when booking accommodations, such as unrealistic prices or demands for unconventional payment methods. Knowing these potential pitfalls will help hosts and guests alike prevent fraud and ensure a safe and positive booking experience.
Curated by Learn STR by GoStudioM