Some rental markets work for strictly long-term leases only. No one really shows up looking for a vacation place.
Nashville is not one of those markets.
There are always visitors, tourists, and short-term guests coming to town for one reason or another, and that means vacation rentals and short-term stays are in high demand. Not everyone likes a hotel, either. These days, it’s all about space and privacy. It’s all about experience, and it’s hard to have an experience in an impersonal hotel.
So, we’re thinking about Nashville as a tourist hotspot right now. We’re especially thinking about music festivals, because as you may or may not know – Nashville kind of has a thing for music.
Take the twang of those guitars and the harmony of those country tunes to leverage the lucrative opportunities that exist for property owners who rent out homes for the night, the weekend, or even the week.
Music festivals are in hot demand all year long in Nashville, especially in the summer. There’s a lot of opportunity to keep your property booked up with guests who come to town to hear the music. Let’s explore how the vibrant music festival scene in Nashville can be a golden ticket for short-term rental success.
For short-term rental property owners, these musical events can provide plenty of profit and popularity, but it takes more than a good listing. You have to give people a reason to pick your property over all the others that are offered.
Harmonizing your Rental Availability with Festival Dates
Before you begin to think about how to attract music fans to your property, you need to make sure you’re in tune with the Nashville music festival calendar. Events such as the iconic CMA Music Festival, Bonnaroo, and AmericanaFest can fuel spikes in demand for short-term lodging. By synchronizing your rental availability with these events, you’re essentially setting the stage for maximum occupancy.
Even a basic Google search will come up with over 20 festivals held in Nashville every year. Here are some of the logistics around the most popular festivals:
- CMA Music Festival
Held every summer, usually in June, thousands of country music fans from all over the world come to Nashville to experience the CMA Festival. This is a four-day fest of music from hundreds of artists. Guests will flock into town for live performances, concerts, meet & greets, autograph signings, celebrity sporting events, and more. Multiple stages throughout Downtown Nashville will host free live music during the festival, and you’ll have some of the hottest traffic ever at your short-term rental during this period. In 2024, the dates are June 6 – 9.
- Bonnaroo
A total melting pot, The Bonnaroo Music and Arts Festival brings in an average of 80,000 guests to the Nashville area every year. Most events are held in Manchester, TN, which is just outside Nashville. This is four days of festivities that include all of the arts. Expect poetry jams, art, cinema, sustainability workshops, and of course – live music. In 2024, the dates for the Bonnaroo Music and Arts Festival are June 13 – 16.
- AmericanaFest
Once the early fall rolls in, you can prepare yourself and your property for AmericanaFest, also known as the Americana Music Festival and Conference. This is a full week of celebration with the Americana Music Association. You’ll find thousands of artists, fans, and industry professionals from all over the world arriving in Nashville to talk shop, and play performances. The festival will feature approximately 150 live music performances at nine different music venues. Fans show up to hear from both established and emerging artists. The dates in 2024 are September 19 – 24.
- Let Freedom Sing
Your property will probably book quickly for the 4th of July, especially considering the growing popularity of Let Freedom Sing. This event celebrates the country’s independence with a free live music event in the heart of Nashville. There will be fireworks and food as well.
This is only a handful of the music events happening in Nashville, but you get the idea. Make sure all of the music festivals are a part of your calendar so you can price your property accordingly.
Setting the Stage with Amenities
You know you’re going to have a specific kind of guest staying at your home for these festivals. They’re here for fun. Guest comfort is at the forefront of repeat business and sparkling reviews no matter what time of year you’re renting out your home. But, this is a special time, so invest in things like soundproofing your space. After returning from a festival, your guests might want to escape that festival and enjoy some quiet time. Provide ample parking options, and ensure your home is a haven where guests can rejuvenate. Think comfort, convenience, and calm.
Marketing to the Music Festival Crowd
Customizing your marketing efforts can resonate well with festival-goers and get their attention quickly. Tailor your listings with language that appeals to the music-loving demographic. Highlight proximity to venues, ease of transportation, and any music-themed touches you’ve added to your property. Use social media to amplify your message, harnessing the power of those music-friendly hashtags and trending topics related to the festivals.
Pricing for Profit During Festival Season
Dynamic pricing will be your best ally during the festival season. Adjust your rates to reflect the surging demand without overpricing your home and losing potential guests. Pricing tools, often available through rental platforms or local Nashville property managers, can help automate this process to ensure you’re in harmony with the market.
Reach Out to Repeat Visitors and Guests
Creating an unforgettable experience can turn first-time guests into repeat visitors. Offer A VIP guide to Nashville’s music scene, curated playlists of local artists, or discounts at nearby music-themed restaurants or shops. These small touches can culminate in rave reviews and a reputation that sings success. If you’ve had someone stay with you in previous years during festival time, send an email offering them the first shot at booking your space during their favorite music event. This will make them feel special, especially if you offer a discount or some other perk.
Collaborating with Local Businesses
Networking with local venues, ticket sellers, and festival organizers can open up cross-promotional opportunities. Bundle festival tickets with a stay at your property, or arrange for special discounts with transportation services to ferry guests to and from events. When you can offer additional value and services, you’ll find that guests are eager to rent your home and willing to pay more for it. This is where your networking efforts and relationships are most likely to help with your rental business.
Providing a Warm and Relevant Welcome
A warm, personalized check-in experience can set the tone for a guest’s stay. Remember that these guests are here for a reason. Let them know that you’ve taken the time to get to know them and why they’re in town. Consider creating festival welcome packages, including schedules, city maps, sunscreen, and water bottles – small tokens that can enhance the overall comfort of your guests’ stay. Provide recommendations for food and drinks and other things they might want to do while they’re in town and enjoying some downtime.
Always Ask for Reviews – and Then Publish Those Reviews
The best marketing tool for short-term rental properties is a good review. People are attracted to the rental homes that other people enjoy. So, follow up with your guests for feedback and a review. Genuine, positive reviews are the applause you need to capture future bookings and establish credibility within the short-term rental marketplace.
The music festival season presents a dynamic opportunity for you, whether you’re renting out a couple of rooms in your own home or an entire property. Nashville’s music festivals are not just a cultural phenomenon but a business opportunity for short-term rental property owners that, if played right, can become a perennial money-maker.
Get to know these festivals, and leverage your location and your property to make some good money while they’re in town. When you’re providing a great home, and you’re willing to stay guest-centric and provide a great experience, you’ll find that your property stays fully booked. It will be as sought-after as a headline act at one of Nashville’s legendary festivals.
Well, almost.
Let’s talk about how to turn your short-term rental property into Nashville’s next hottest place to stay. While you’ve likely had some great success managing your own short-term rental, you can leverage what you earn and what you accomplish when you partner with a Nashville property manager. We have additional strategies and resources that can ensure you make as much as you should the next time everyone’s favorite musicians roll into town.
We’re here to help. Please contact us at Apex Ventures, Inc. We can help you prepare your rental property, market it, and keep it well-maintained. We’re also here to help with reviews and keeping your short-term property occupied.
