Understanding compound properties
Sometimes, we hear from homeowners who own multiple adjoining vacation rentals—like a main house with a carriage house, two neighboring homes, a duplex, or a house with one apartment on each floor.
We call these compound properties: vacation rentals that can be booked all together by a big group, or split into multiple smaller rentals (booked individually or in combinations).
The more, the merrier
Compound properties can achieve more visibility on 10starshomes.com and other booking sites. That’s because each separate home receives its own listing, in addition to a listing for the entire property—multiplying your chances of getting seen by guests.
Compound properties also appeal to a larger pool of guests, since they’re able to accommodate groups of varying sizes. Small and large groups can book the individual rentals in combination to suit their needs. Friends or families traveling together can also reap the benefits of staying near each other while still retaining some private space.
Different ways to funnel demand
There’s no one-size-fits-all approach to optimizing revenue for compound properties. One strategy we often use is blocking off the smaller rentals’ calendars so they can only be booked close to the check-in date (this is why they may appear unavailable for future dates). That way, we funnel demand toward the compound property—allowing it to be booked first and for higher nightly rates than we’d expect for the smaller rentals, which tend to have more last-minute demand.
This approach helps us maximize revenue for compound property homeowners. In fact, in a recent test, we found that it increased rent by 15% compared to keeping the calendars open for each listing.* And if the entire property doesn’t get booked, our system will automatically open up availability on the individual rentals with plenty of time to recapture bookings.
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