How to grow your apartment rental? Hint: focus on reviews and feedback.

More than half of European travellers are strongly influenced by online reviews when booking holiday accommodation.

In this article, we’ll guide you through effective strategies to tackle the challenges of review volume, respond constructively to feedback, and use positive reviews to boost your rental’s attractiveness.

Let’s explore how to turn review and feedback management into a competitive advantage for your rental business.

Key benefits of review and feedback management for apartment rentals

With plenty of tasks already on your plate, allocating time to manage reviews and feedback might seem low priority. However, this aspect of your business is more influential than you might realise. The benefits of investing time in review and feedback management are substantial and directly impact the success and growth of your business:

● By actively collecting reviews, you can increase your apartment’s visibility and attract more bookings. Reviews are great for SEO and help you rank higher on Google. The higher you appear in searches the more clicks you get, and the more bookings you can get online.

● When you respond to guest feedback and take steps to address issues, it shows that you value your guests’ opinions and are committed to providing the best possible experience. The result? Increased guest loyalty and more repeat bookings.

● Reviews and surveys offer authentic feedback on your business’s strengths and weaknesses. By acting strategically, you can make targeted enhancements to your apartments, improving satisfaction and the overall appeal of your rental properties.

● In a competitive market, effective review and feedback management allows you to identify your unique strengths and address areas where competitors may fall short. You can use these insights to inform your marketing and attract new business.

The impact of online reviews on apartment rental businesses

One survey showed that 85% of consumers trust online reviews as much as personal recommendations. While much of the research on the impact of online reviews has been centered around hotels, the findings are highly applicable to the holiday apartment rental space.

57% of consumers will only book a hotel if it has four or more stars on review sites. This preference for highly-rated accommodation is likely mirrored in the apartment rental market, where positive reviews can significantly enhance a property’s appeal, leading to more bookings and the ability to charge higher rates.

The influence of negative reviews is equally important. Studies have found that a single negative review can result in a hotel losing up to 30 potential guests. This impact is just as relevant for apartment rentals, where negative feedback can deter potential renters, affecting both occupancy rates and the overall revenue potential. Additionally, the willingness of guests to pay more for higher-rated accommodations suggests a direct correlation between positive reviews and financial performance.

The impact of negative reviews can also extend beyond lost bookings and revenue. Disappointed guests may share their negative experiences with others, leading to a ripple effect of lost business. Apartment rental companies need to ensure they have strategies in place to manage negative reviews effectively.

Strategies for effective review and feedback management

With reviews spread across different platforms and disorganised survey responses to contend with, it can be hard to know where to start. While there’s no one-size-fits-all strategy, here are some ideas to get you going.

● Determine the most important review platforms for your rentals and set up a system for monitoring them. It’s far better to pick a few key platforms and check them regularly than check twenty platforms inconsistently. Email notifications or scheduled checks can help you stay on top of guest feedback.

● Another important strategy is to respond to negative reviews in a professional and empathetic way. This means acknowledging the guest’s concerns and offering a solution to their problem. Responding to negative reviews in a professional way shows other potential hotel guests that you’re committed to providing a positive guest experience. Just make sure you’re following best practices, and you can easily turn negative feedback into a positive.

● Bad reviews may demand more attention, but it’s also important to respond to good reviews. It shows guests that you value their kind words and positive experiences. By expressing gratitude, you can create a positive relationship with guests, which may encourage them to return or recommend your apartment to others.

● Along with responding to reviews, it’s also important to encourage positive guest reviews. Doing so will not only improve your performance in Google search results but will also win you business through positive feedback. To learn some different ways to do this, check out our article, ‘How many Google reviews do I need? (plus 8 foolproof ways to get them)’.

● It’s also important to note that creating a positive guest experience is key to avoiding negative reviews in the first place. This means providing exceptional customer service, ensuring the accommodation is clean and comfortable, and offering amenities that guests will appreciate. By creating a positive guest experience, you can increase the likelihood of getting positive reviews and ultimately improve your online reputation.

● Adopting review and feedback management software can simplify and enhance your approach. Benefits include time-saving automated alerts, centralizing reviews from various platforms, and gaining insightful analytics to better understand feedback.

Choosing the right review and feedback management solution for your apartment rental

The effectiveness of such software hinges on selecting a platform that aligns perfectly with your business needs. With many options available, determining the best fit requires careful consideration. Here are some practical tips to guide you in making an
informed choice:

● Before choosing any tools or technologies, identify your specific needs and goals. For example, if you’re struggling with negative reviews on review sites, focus on tools that can help you monitor and respond to those reviews.

● It’s crucial to balance cost-effectiveness with scalability. As your apartment rental business grows, you’ll need a solution that not only fits your current budget but also scales effectively to accommodate increasing volumes of reviews and expanded operations.

● Take the time to research different tools and technologies for review and feedback management. Look for reviews, case studies, and other resources that can help you evaluate the pros and cons of each option.

● Reach out to other people in your network or industry groups to get their input on the platforms they use for review and feedback management.

● If you’re already using other software or tools for your apartment rental operations, look for review and feedback management tools that integrate with those systems. This can help streamline your workflow and make review and feedback management more efficient and cohesive.