Pursuit of Profit: When are Call Centers Profitable?
If the Internet and rent by owner sites have taught us anything, it is the importance of responding promptly to renter inquiries. Call centers allow us to catch after-hours or overflow calls without having to add staff. The challenge is in understanding when they increase or decrease profit.
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The Five R's of Owner RetentionStudies conducted by the U.S. Small Business Administration and U.S. Chamber of Commerce have found that acquiring new rental customers can cost as much as five to seven times more than simply retaining existing customers. The fact that customer profitability tends to increase over the life of a retained customer is added incentive for businesses to allocate more resources to sharpening their customer retention strategies.
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Pets or Not: Vacation Rental Companies DividedWhen it comes to making a property pet-friendly, what's an owner to do? Here's how vacation rental managers can help owners decide.
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The Art and the Science of Personality Testing in the Hiring ProcessFinding the right person to fill the right position is important in any industry. In the vacation rental industry, this is even truer than in most.
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New Revenue: Raise Fees, Lower CommissionsLooking for new revenue? Consider implementing a fee structure that allows you to control cost creep, improve your bottom line and keep homeowners happy.
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New Revenue: Expanding Services Beyond InventoryMany VRMs have developed a number of procedures, systems, and additional home services to create a competitive advantage and operational efficiency in their businesses. Most of these managers are only targeting their current customer bases for these services and have neglected to see the market need outside of their inventory. Here are six steps to expand your revenue sources beyond your current inventory.
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New Revenue: Innovative Revenue Models from the Vacation Rental Industry and BeyondAfter such a positive response to our session at VRMA East, and in preparation for conducting a similar session at VRMA West, we wanted to share some of the ideas with those who were not able to attend, or who would like additional color on the topics covered. To that end, this will be the first piece in a three part series covering “New Revenue: Innovative Revenue Models from the Vacation Rental Industry and Beyond.”
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Growth 101: Behind-the-Scenes at Elliott Beach RentalsHow do you keep up with the changing tide in the vacation rental industry? It's a "game of pennies," says one CEO. Here's a closer look at how Elliott Beach Rentals stays on top.
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Growth 101: Behind-the-Scenes at Kokopelli Property ManagementThe vacation rental industry is evolving, and companies must learn to adapt to these changes. Here's a closer look at how Kokopelli Property Management continues to stay on the leading edge.
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Growth 101: Behind-the-Scenes at Vacation Rental Pros Property ManagementWhat does it take to grow in today's competitive vacation rental industry? Here's a look behind-the-scenes at how Vacation Rental Pros increased inventory and productivity while keeping expenses down.
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