Is Your STR Business Bleeding Cash? 3 Process Mistakes You Can’t Ignore
The short-term rental (STR) market is a goldmine… if you know what you’re doing. Sure, you might have a prime location and stunning décor on your side, but even the most impressive selling points will be useless if your operational STR processes are a disaster. You might be losing serious money without even realizing it!
To help you get your STR operational processes right from the start, we spoke with Dainius Podolinskis, Director of Stay in London and veteran of the STR scene, to expose three common (and costly) process mistakes that can bleed your STR businesses dry.
You’re Using a Cleaning Service That is Too Small: Scale Matters!
Think you’re saving money by using a tiny, low-cost cleaning service? Or worse, are you trying to handle STR cleaning yourself? Think again! Using a cleaning service that is too small for your needs will cost you dearly in the long run, as it will eat into your operational efficiency!
Dainius Podolinskis of Stay in London learned this the hard way. “We actually used to do everything in-house,” he admits.
But soon, Podolinskis came to the conclusion that trying to juggle cleaning with everything else is a recipe for disaster. “We realized it’s a completely different business. You would have situations where we would have 10 checkouts and a time window between 10 am and 3 pm, where we would have to do 10 cleans. You would need 10 housekeepers. That was not sustainable.”
The result? Rushed, sloppy cleans, missed deadlines, and furious guests writing scathing reviews – all translating to lost bookings and a damaged reputation.
Luckily, the solution to this problem is simple: partner with a cleaning company that can handle the heat. Look for a company with a large, well-trained team, proven experience in STR cleaning, and the logistic capability to manage your entire portfolio, even during peak season. Scale is non-negotiable for vacation rental success.
But don’t stop there. “In our case, we also have full API integration [with our cleaning partner].” Automate everything! Integration improves guest satisfaction and reduces operational costs.
Finally, never skip the due diligence. “Really [look] at reviews by guests who stayed at those properties.” Guest feedback is the ultimate litmus test. If your cleaning service is consistently earning negative reviews, you’re throwing money down the drain. Once again, switching companies will fix it.
You Still Haven’t Figured Out How to Exchange Keys: Streamline Your Check-in Process
Ah, the key exchange… It seems so simple, yet it’s one of the most common points of failure in the STR process. If you’re still relying on outdated methods like lockboxes or awkward meet-and-greets, you’re actively harming the guest experience and leaving money on the table.
“Having a smooth key collection process […] is very important, that it’s smooth and doesn’t create any friction,” Podolinskis emphasizes. He uses Keynest, a third-party service that allows guests to pick up keys safely with a code at a convenient location. This extra flexibility improves the check-in process.
But what about guests who struggle to find the property? “We actually have videos of how to find the property, how to open the first door, second door, where the elevator is,” Podolinskis explains. “It gives them a very interactive, easy way of navigating.”
If you’re not providing a friction-free key exchange, you’re creating unnecessary stress for your guests and setting the stage for a negative review. Investing in a better key collection method will solve this issue and result in happier guests, better reviews, and more money in your pocket!
Not Inspecting Your Listings Post-Stay: Protect Your Investment!
If you’re not inspecting your property after every guest, you’re basically inviting disaster. Undetected damage, overlooked maintenance issues, and gradual wear and tear will erode the value of your rental and decimate your profits. Damage prevention is a must!
“The process of checking the property after guests have left allows you to document damages,” Podolinskis explains. “In our process, we have over a hundred checkpoints.”
Using Breezeway, Podolinskis’s team meticulously documents the condition of every surface, appliance, and fixture during post-stay inspections. “Since we have records of what it looked like each time, we can identify which guests caused the damage and send them the proof,” Podolinskis says. This helps with property protection and maintenance.
Bottom line is: without a rigorous post-stay inspection process, you’re gambling with your most valuable asset and setting yourself up for failure.
To avoid these financial landmines, StayInLondon relies on:
The STR market rewards efficiency and attention to detail, so don’t let these easy-to-fix process mistakes drain your bank account! Take action now to streamline your operations, protect your property, and maximize your STR profits.
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