We are in the middle of a contentious political season and most Americans are feeling, well, a bit unsettled. As you may have guessed, unsettled politics can be bad for business.
Right now we are seeing a trend of companies not spending money until they can better understand what the next Administration’s policies will be. If business confidence is down, business travel and business spend is typically down too.
What This Means For You: As a corporate housing landlord, you may see less rental inquiries and stays. Between now and November 6th you may need to work harder to find the right renter for your property. Don’t be discouraged, it’s a normal part of the political and business cycles.
The good news is you should see a 4th quarter increase in demand as a result of pent up activities.
If things are “slow” for you now, use this time to do a little “housekeeping,” such as:
Review your listing. Pump up your keywords. Revise the wording to be even stronger. Make sure your pictures are up to snuff. Consider doing a virtual tour of your property.
Check your pricing. Pricing can fluctuate based on seasonal trends and local events. Evaluate your pricing to make sure it’s within your local market rates.
Market smarter. Spend some time evaluating your corporate rental marketing. Where do the bulk of your quality inquiries come from? What things can you drop? What new tactics can you try?
Remember, use this time wisely to prepare for a busy Q4 ahead. Once the election is settled, American business will be feeling more certain and confident. Trust us, this “slow” period happens every four years…
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