Ever heard of Pareto’s law? Applicable to many sectors, it is particularly well-suited to rental and will be a great help to you. We explain why.
1. What is Pareto's law?
This law, initiated by Vilfredo Pareto, is a type of power law. Its theoretical basis? The 80-20 principle , known as the Pareto Principle.
Based on this principle, acting on 20% of the causes will solve 80% of the problem. This enables us toidentify the levers we can use to significantly improve the situation.
2. How is it used for rental?
It’s so simple!
1/ Identify the 20% of sites that generate 80% of your bookings. It takes time, it may take you a few months to identify them properly, but it’s very important.
2/ Concentrate on these sites and write a complete and attractive ad. Here too, take the time to describe your home and its unusual features, what makes it unique, what there is to do around it…
3/ Update your ad often. Change the photos according to the seasons, the equipment you add, new sanitary measures…
To help you write your ad, you can take inspiration from the ads of the
Airbnb superhosts
.
What do you think of this application? Do you think it’s relevant? We think it’s great to pool our efforts on a few ads and fine-tune them!