Bali accommodation market trend has been experiencing a gradual shift from daily rental to monthly rental since the first quarter of 2020. As much as it has been the means to keep up the overall occupancy rates due to the decreasing arrival volume of new tourists to the island, this trend has, in fact, opened up opportunities for business travellers and digital nomads to have their remote working experience from Bali.
As the accommodation rental owners in Bali, what does this current monthly rental trend mean to you, and how can you use it to maximize your rental potential?
Here at bnbprofits, we have been collecting vast data points by managing our guest's expectations in short-term (daily and weekly) and long-term (monthly) stay in various locations in Bali.
Among the top destinations for work-from-home experience in Bali are Canggu, Ubud, and Uluwatu.
Ideally, business travelers and digital nomads are looking for private space to support their productivity during their monthly rental. It can be a private villa, private bungalow, or apartment. If your villa or apartment is in one of these areas, you have the best opportunity to seize this rental market niche.
However, accommodating the uprising demand of monthly rental requires slight adjustments in your property value proposition to provide the best work-from-home experience for your guests. These adjustments shall reflect in the exposure of your location benefits, amenities, services, and of course, attractive pricing.
A clear, insightful bird-eye view of your property helps your future guests understand its location benefits.
Modern, fully-function amenities, as well as reliable services, are also some of the key features that often convey your potential guest's decision to book your villa or apartment.
- Fast and strong WiFi
- Fully air-conditioned space
- Smart TV
- Portable sound system
- A laptop-friendly workspace
- Safety box
- Fully-equipped kitchen
- Essentials such as soap, shampoo, fresh towels, and linen
- 24/7 support to keep your guest in their ease of mind, which you can benefit from bnbprofits dedicated team of our customer service, villa managers, and 24/7 on-call handyman
To highlight your property value propositions in Bali rental market, you would ultimately need a comprehensive pricing strategy.
Our data-driven price suggestion combines all of the above value propositions in the equation, along with other pricing components such as booking window and real-time dynamic demand in both daily rental and monthly rental.
In summary, the latest trend in the Bali accommodation market requires adjustments in your marketing strategy as the property owner. Here at bnbprofits, our dedicated team is at your service to provide insightful, comprehensive, data-driven guides to maximize the rental potential of your villas and apartments at all times.
Photo by Unsplash : @contentpixie