When third party booking sites like AirBnB and VRBO began to gain traction in the economy many hotel chains started smear campaigns to spread a lot of negative information. In our experience, hosting more than 10,000 guests from across the world, we've never had a guest leave a negative impact on a property. In fact, many services such as AirBnB actually carry a blanket policy covering up to $1 million in damages for their hosts. Combined with our careful vetting of potential tenants, Orange Court actually believes short term rentals show less wear than long term rentals!
"How could my property show less wear as a short term rental, than a traditional rental?"
This is a great question, and an easy one to answer; on average an Orange Court property is viewed and cleaned 3 times per week. That's a LOT of eyes and upkeep on your property. Additionally, most guests are looking for a home base to sleep for the night, your property is not LIVED in like it would be with a long term tenant.
"Furnishing my place would be expensive and I'm just not equipped to lay out that much cash right now, any ideas?"
We understand that this can be a barrier for many potential clients. Orange Court is prepared, and we're willing to work with you on a variety of options.
"How do I know my property will succeed as a short term rental?"
Orange Court is very selective about the properties that they take on, we won't work with just any property. If we reached out to you, rest assured we've already done quite a bit of leg work and have found your property to meet the criteria. On top of that, Orange Court doesn't roll the dice on a property succeeding. Using our proprietary formula we grow your listing like a new born baby, stacking 5 star reviews and launching you to the top of search results!
"What about Insurance?"
Airbnb carries a $1 million dollar policy for its hosts, as do our other listing partners. Rest assured, you're covered. If you require additional insurance coverage, we can connect you with some great options!
"OK, what sort of occupancy rate should I expect?"
Orange Court's properties generally see an average occupancy rate of 80% (market average is 55%), which translates to roughly 24 booked days out of 30. The more your place is booked, the more money you make! There's nothing more expensive than a vacancy!
"Is the market becoming over-saturated?"
Kentucky tourism has increased 15% each year since 2015, and Louisville hosts roughly 24 million visits annually with an economic impact of $1.6 Billion. There is still plenty of that pie to be had.
"How do you determine pricing?"
Orange Court uses a hi tech pricing engine coupled with our proprietary algorithm that ensures you never miss a high demand day, and it adjusts for low demand dates so that we can fill those too! No more wondering if you're pricing accurately. We don't miss!
"This sounds great, but why wouldn't I just do this myself?"
You certainly could, but consider that we routinely outperform the market averages by 20-30% in earnings. Combine that with the costs associated with finding a good reliable cleaning service, the time spent purchasing and stocking supplies, as well as marketing and communicating with guests... and we're a winning formula!