Innovation is the creation and implementation of ideas that result in the introduction of a new or improved way of doing something, in order to increase value or productivity. The world of business is one that requires constant improvement, due to its competitive tendencies. Every business must always carry out constant evaluations to determine areas that should be improved for better performance.
Short-term rental businesses are not an exception to this rule. In fact, the properties subsector has recently become more competitive, due to the number of new entrants springing up lately. This fast-paced growth rate presents bigger responsibilities to existing property companies, as well as those intending to come into the industry. It also means that companies must be ready to do more than just the basics in order to remain in business. Without this, the possibility of being overtaken and kicked out of the running by those constantly innovating becomes high.
A number of businesses operating in the home rental industry are already taking the bull by the horns, by adopting various innovative ideas. Some vacation rental businesses are already embracing cutting-edge technological practices and putting long-term strategies in place. These innovative technological practices enable them to stay ahead of the curve and provide specialized services to guests. It also helps them in properly evaluating homes to determine their qualities, potential and capacity, as well as what can be done to upscale it for appreciating value.
Founder and CEO of GetAway Vacations, Fred Cercena says property businesses must constantly innovate. He also counsels new entrants to come in with new ideas that will address current industry challenges.
“There is this notion that investors looking to come into the short term rental market only need to raise money to buy properties and just rent them out to make a profit. Some people even classify this market as one where investors can make passive income. The truth however is, this is not an industry of passive income. The work involved in keeping a home occupied and appreciating in value is anything but passive because the climate is very competitive,” Cercena says.
Fred Cercena’s company, GetAway Vacations is a property management company. Located in Killington, Vermont, GetAway Vacations works with local owners by helping them rent out their homes while helping guests discover attractions in Vermont and Maine.
Speaking about what sets the company apart from others, Cercena says GetAway Vacation’s team is made up of innovative individuals who understand the importance of constantly improving to meet customers’ increasing expectations. He says the company constantly keeps tabs on industry trends to ensure it stays ahead of the curve in order to achieve and maintain profitability.
Cercena explains that GetAway Vacations has developed its categories to match guests and their interests. He adds that the company uses this information to provide specialized homes that meet the needs of diverse kinds of guests. According to him, GetAway Vacations also pays attention to problems or challenges that a home for rent might be encountering. He explains that the team thoroughly evaluates homes and upscales them to meet specific quality standards and ensure they appreciate over time.
“We are a company that prioritizes innovation and constant improvements in order to continue to offer unique and personalized services to our home-owners and guests. We get in the right guests at the right price, and make sure they always have a great experience every time they stay at our homes. We have desirable vacation destinations that offer unbeatable value to guests, making them want to relive their experiences with us. What makes us unique is our ability to understand the various needs of different kinds of guests. We then provide tailored experiences that match their interests, needs and lifestyle. We surpass the expectations of our esteemed guests with our high-quality Vermont & Maine rental options,” Cercena says.
Cercena is determined to continue using innovative strategies to provide specialized services to guests. He believes that in no time at all, GetAway Vacations will be able to expand throughout the US with its innovative approach.
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