This is a concept that you have to understand. Doing all the right things can really lead to more bookings at better prices. But I would enter the market at or below the market, and then work my way up the next season. Being booked all year at reasonable prices is better than being half full at higher prices.
If you are new to this market or your vacation rental is just being listed for rent and you have no repeat business, we suggest you come into the market on the lower end. That does not mean you are giving your rental away. You have to do some research of your competition.
This means you are the path of least resistance. More people will be attracted to book with you since it is easy, fast and convenient. Who wants to wait 7-30 days to mail documents back and forth? They want to book a vacation now!
Add this to a great slide show of your vacation rental, and a Google map showing the exact location. So now you go into your next season with a list of past guest, you email them about the new season and they want to come back to stay with you since it was easy, they loved your rental and you stayed in touch. Now you can raise your prices to at or above the market. Now your rate would be at $2,795 per week in the prime time.
Using all the tools that you need can make a huge difference. If your competition does not put the time in that you do, you will win.Business Tip 8: Figure out the details of your business, but at some point you’ll have to jump in and just go! Click To Tweet