This article is part of our Rental Scale-Up vacation rental management conference series. This is an extract from our March 2020 conference: “Getting Your Business Through the COVID-19 Crisis with Actionable Insights from World Class Short-Term and Vacation Rental Experts.”
Vacation Rental Management Conference: Rentivo & Stay Alfred’s Richard Vaughton
Richard brings a unique perspective: He’s been a property manager and a technology provider for years in our industry. He will share with us why the current crisis will expose many small vacation rental companies, their operational activities, their technology, their staff management and their capacity to weather the storm. Cash will be king and he expects an appalling loss of small businesses in this sector. The simple reason many small concerns are suffering is that there is less margin in recent years across the board as the industry has become more corporate and moves to a more professional approach. With more competition, investment for scaling, marketing dominance and reliance on technology the industry is more challenging and in a crisis like this, there are few reserves for most short term rental companies to fall back on. With his detailed 10-point plan, Richard gives you actionable on what to do now to sustain the crisis and be ready when demand returns.