Price Your Vacation Rental Properly

The key to properly pricing your vacation rental is to keep your prices comparable to other vacation rental homes in your area. This means you do not want to be too much higher than them or too much lower. Unfortunately there is no real set in stone strategy to pricing your vacation rental property. It’s important to recognize that the price of your vacation rental will directly affect the amount of inquiries that you will receive.

Getting Started

The very first thing that you should do when determining a rental price is to compare your home to other short-term rental homes in your area. This process is very similar to what real estate agents do when deciding what price to list your property at. Compare your property to those that are similar. If you have a condo, compare your condo to others in the area to get the most accurate pricing. Also compare the amenities that are being offered then determine how your rental property stacks up against the competition. How much are they charging for nightly rentals, weekly rentals and monthly rentals?

Comparing your vacation rental to local hotel prices can be a good way to attract guests that were seeking a hotel stay but found out that your vacation rental costs on a nightly basis are actually cheaper.

Seasonal Pricing

Pricing varies depending on what time of year it is. You should determine what weeks and months of the year are peak, shoulder and off-season. The peak season will be your busiest time usually and you can capitalize on the demand by increasing your rates for those periods of time and requiring a rental minimum of a week if you can get it. During shoulder times and off-peak times you should charge a lower rate and lower your minimum rental length to at least 3 days to capture the most demand.

The rental seasons tend to coincide with school calendars. To be sure of when your peak, shoulder and off-season time periods are you should look at other vacation rentals in your area and see what times of year they adjust their pricing and rental term minimums.

Organization

This is the key. Get a yearly calendar and mark down which dates are peak, shoulder and off-season, determine a rate for each one and mark it down on the calendar. If a renter wants your property during a specific week you will know exactly what to charge them. Furthermore, as you begin renting out your vacation rental mark down the days that are already taken so you do not double book.

5 Tips to Help You Save Money on a Vacation Rental

Before taking a vacation it’s a good idea to determine what kind of a budget you are working with. This will really dictate where you can rent a vacation home and what kind of activities you can do in the area.

There are a lot of expenses that you may not have considered so it’s important to think about your trip in as much detail as possible. There are luggage fees, car rental fees, pet boarding fees, etc. The list goes on and on! Well here are a few tips that can help you save some money on your vacation rental and your entire trip.

Shop Around

It’s a good idea to look for a vacation rental online and compare the listings in a particular area of interest. You may be able to negotiate with a property owner of a vacation rental that you prefer over another that is more expensive. It doesn’t hurt to contact them and ask if they will price-match the competition.

This also means you should shop around for the best prices on air fare and car rentals as well.

Be Realistic

When selecting which vacation rental property would be best consider how much space you really need and what kind of amenities are necessary. You may be paying for some features that you do not need or want. You will be able to pack fewer clothes if your vacation home has a washer and dryer. Think about it.

Book Early

Sometimes you can get a good deal if you are able to wait till the last minute to make vacation plans. However it’s a good idea to book in advance and if you are really flexible off-peak times offer the best deals.

Transportation

Consider if it’s really worth it to rent a vehicle from the airport or if you can catch a shuttle to your destination. Usually car rentals from an airport are really costly and can drastically increase your budget. A better idea is to see if the vacation home owner would be willing to pick you up and drop you off at the home. Then rent a car from there.

Seek Value

What kind of a deal are you really getting? Is the vacation home owner offering you any extra benefits for choosing their home over another’s? Sometimes you can get a gift card or products that will help ease the costs of taking your trip.

Plan a Luxurious Honeymoon

After the exchange of vows and a dedication to a lifelong commitment what else is there to look forward to? Well how about a sweet and romantic honeymoon? Often time’s honeymoons consist of some traveling and a lot of expenses. Wouldn’t it be nice to finally relax after weeks of stressful wedding planning, honeymoon planning and save some money? Your honeymoon destination should be private, spacious, luxurious and comfortable. Do you really want to stay in a hotel room after getting married? Most people are looking for more.

A vacation rental will give you the privacy and seclusion that a newly married couple needs and deserves. What’s really important during a honeymoon is that you and your spouse enjoy each other’s company and do the activities that you both want to do. The best way to experience a honeymoon is in a cozy, quiet and comforting home away from home.

Your honeymoon is often times more memorable than the wedding itself. Throughout your married life you will always be able to share these moments together. Planning a honeymoon can be difficult and requires a lot of compromise in most cases. One thing is certain both you and your partner are sure to agree that you need some private time together and a vacation rental is just the thing that you need.

Your honeymoon destination is very important. Go to a location where both you and your partner can agree to. Then do some searching through our online vacation rental database. There are hundreds of exotic locations that will meet your needs. Almost anywhere you decide to go there will be vacation rentals available for you.

It’s time to stop thinking about what it took to get to where you are and time to start living in the moment as a married couple. You can now start your new life together from the comfort of a vacation rental property that is luxurious.