Since Covid-19, there has been a growing trend toward vacation rental platforms. Almost, we have passed three years, how time flies. Yeah! It does.
And we are still recovering from the great mutilation.
As per Statista, the number of users in the Vacation Rentals segment expects to reach 63.0 million by 2027.
While the vacation industry looks to recover, entrepreneurs are all set to hold the opportunity.
Read wholly to know the 4 key factors before developing a vacation rental platform.
Note this before developing a Vacation rental app
It is the task of adapting an existing application to meet user needs. It includes changing the user interface, functionality, and app code.
While customizing your vacation rental app, make sure to adapt the app to your user.
Tips on customizing your vacation rental app
It is vital to provide a smooth workflow for hosts to list and maintain their properties. For that, Provide a user-friendly interface and instruct them through the listing process. And make sure to add photos and details section of the property.
Add a flexible pricing option to set daily, weekly, and monthly rental rates. And allow them to change the pricing during peak hours.
This guide will help you know more about surge pricing.
The calendar system helps users find out the availability of the property.
In-app messaging helps the host and guest to communicate with each other and can ask queries related to the stay. Moreover, it helps through the entire journey from booking to checking out.
The rating & review system help guest to rate their experience.
And this happens after the fulfillment of the rental journey. Additionally, it helps to make informed decisions.
And provide a better payment gateway to smoothen up the payment process.
It is mandatory to support your user whenever they need any assistance. So, the live support option, contact form, and FAQs section help you do better.
Do Market research for the Vacation Rental industry!
How it helps your rental business?
For instance, if we look at some top businesses, they have been very successful till now. Besides, they never forget to adapt themselves to the trend.
Yet, it all starts with market research.
Like, this rule applies to every small business to big corporations.
So, then what is market research🤔
It is the process of gathering, analyzing, and interpreting the data of the current market. For instance, take your vacation rental business.
Examine how the users interact with your industries. Collect the past and present data, and analyze the future data of how the user would respond.
Additionally, check their spending habits, preferences, location, age category, and more.
Now you get an idea about your user.
Before getting into developing your vacation rental app, determine your target audience. So that you know the likes, dislikes, needs, and wants, eventually, find a solution to serve them better.
Then, your competitors.
While talking about market research, we couldn't easily ignore the competitors. Do research on their current affairs with the users. Like, what are they missing out on the market? And how you can fill the gap.
It is a continuous process that must be repeated to understand the psychology of user behavior. As a result, it significantly helps withstand competition.
Interested in developing your app?
Define your business goal
The surge in the total revenue shows the company's positive growth. And there are several ways to do that.
Yup, it should be your goal.
But if you precisely ask the ways, then we will see.
Increase your commission - It may seem weird, but to adjust the pricing to inflation, your company needs to undergo it. Therefore, increasing your commission will result in your business to profitability.
List a wide range of properties - Try to attract every segment of your audience. Like, as making listing available for every price and age category. Thus, you can put a hook on every user.
Cost cutting - It is a fact that the revenue wouldn't always show positive growth. That is where cost-cutting comes into action. It is the process of reducing the overall expenses to achieve a state of profitability or break even.
Customer service - Customer service is crucial for every business. And the output is what amazes the most. Whenever your customers need any help, be there to support them. Eventually, it builds trust and makes your business looks more authoritative.
Please your target audience - Before going through the process of satisfying your user, you need to know who they are.
Like, as their goal, age category, and their purchasing power. Now, you will get an idea of their expectations. And work on achieving that goal.
Custom app vs Readymade app
Earlier, we defined our business goal. And then, we are here in the development process. But before getting into that, you need to figure out your ways.
Like, how do you plan to build your Vacation rental app?
And it is hard when there are several options right before.
Yes! We will cover that in the following section😇
First, move on to know the basics of both.
What is custom app development?
It is the process of developing an app from scratch. The process initially starts with analyzing business needs and requirements.
Then, the development team will then begin the design phase. It includes working on wireframes, mockups, and prototypes to visualize the app's UI and UX.
Further, they will begin their work once the design gets finalized. It entails coding and integrating APIs and third-party services.
At last, the developer deploys the code on the server and provides ongoing support.
As you are all aware, custom app development entails massive investment and needs long ages to develop.
The Readymade app is a pre-built app that helps entrepreneurs who seek quick launches. Moreover, it is customizable to business requirements.
As it's pre-built, the time and cost needed are lesser than custom development. Thus, it's in complete contrast to custom app development.
And it is possible to integrate new features and functionality into the app.
We've now seen both custom and Readymade apps. So, which is best for your business?
You can make up your choice based on your project requirement. But both have their advantages.
Custom development is a good option if you have enough time and extensive investment.
Or if you opt for a Readymade app development for your vacation rental app.
The advantages are that it's a low-cost solution that offers a quick launch. As I mentioned earlier, you can customize new features and functionality here.
So it's 100% customizable.
If the Readymade solution is your choice, we can turn your vacation rental app into reality. We have been serving entrepreneurs for more than six years. And that makes us the best among the rest.
I hope this blog holds your interest till the end.
And if you have any queries related to the development process? Then discuss with our friendly sales team.
It's completely free!