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April 28, 2021

Listing Management

Listing management is an essential part of your short-term rental (STR) business. Listing management has two different components, we refer to them as physical listing management and digital listing management. Both are essential components to building a profitable and properly run STR business. Hosts generally care about 3 things in their STR investment; revenue, operating costs and asset quality. Proper listing management plays an integral role in increasing revenue, decreasing operating costs and maintaining the asset quality for longevity. In this blog we will explore the two main components of listing management and go over some best practices to keep your listing shining both physically and digitally.

What is physical listing management?

Physical listing management means to look after the furniture, fixtures and equipment of the listing as well as the grounds of the property. There is a big push in the world of STR for automation of everything but in this business you will always need boots on the ground. Many hosts rely on their cleaning team to report maintenance issues, guest damage issues, guest theft issues, supply refills and anything else related to the upkeep of the listing. And oh yeah, they need to clean the space in a lighting quick turnover time with 5 star cleaning standards. Many cleaners are not well equipped and prefer not to handle these outside of normal cleaning activities. While there should be some onus on cleaners to report obvious damage or theft, refill supplies and complete checklists, there should not be unrealistic expectations of the cleaners which inevitably hurt cleaning quality, reviews and top line revenue. Every great system needs checks and balances in place, the system of your business should have your cleaning person completing a detailed checklist and your maintenance person follow up with their own detailed checklist. This adds checks and redundancy to your listing management process. The purpose of redundancy is to double check for mistakes. The goal is to practice preventative maintenance, track non-urgent maintenance and fix maintenance issues prior to your guest spotting them. If you can achieve this goal it will keep giving your listing five star reviews which correlate directly to revenue and asset quality. Furthermore, guests who stay in a well maintained listing respect the property more and tend to cause less damage. Good physical listing management is a critical piece to overall STR growth strategy.

What is digital listing management?

Digital listing management means to look after the quality and content of your on platform listing. Your digital listing is the first point of contact for any potential guests and it is of the utmost importance that it gives an inviting and clear impression. Quality consists of photos and reviews. The right quality photos will give you an advantage of getting booked over another listing with lesser quality photos but at the same you don’t want to over promise and underdeliver by having high quality photos and being disappointing in person. This will lead to bad reviews which we know will inevitably hurt revenue. Content consists of house rules, house manual, description, settings, title and overall listing copyright. House rules should be an ever evolving document based on experience, clear and direct with no room for misinterpretation. Your house rules are your terms of service. House rules function as a deterrent to bad guests and informative to good guests, most guests respect reasonable well thought out house rules. A good house manual will inform guests where things are located and how to use them, it will function to reduce unnecessary guest communication. Your listing description is the text which provides understanding to potential guests, have your description tell a story and convey a theme, be creative. As well, your description should be informative and concise as to location and layout. One major point of listing settings is ease of booking, while we want to protect our STR assets from bad guests we don’t want to make too many barriers to booking for good guests. Simply stated, make it easy for your guests to book and weed out bad guests through screening measures that will enhance revenue and still protect your asset. Aside from photos, the title is the most important eye catcher of your listing. Title should convey location, theme and value proposition, make it easy to say and remember. Overall listing copyright consists of everything we touched on in digital listing management, it has major value at scale as you will copy and paste a lot of information from existing listings to new ones. Be sure listing copyright is easy to understand and free of grammatical or spelling errors. Digital listings should be updated regularly to correct mistakes and inform guests, it’s an integral part of your overall revenue and business efficiency strategy.

In conclusion, proper listing management keeps quality control of your product, delivers five star guest experience and helps propel you to your STR revenue goals. Listing management is a key cornerstone to the success of your STR business.

Main takeaways;

Proper listing management will increase revenue, decrease operating costs and maintain asset quality.

Pay attention to the physical and digital quality of your listings.

Practice preventative maintenance.

Update listings with regularity.

Thanks for your time and attention.

Your Co-host

AD1 Management

Anuj Datta

Founder/Ceo

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