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Fall is a popular season for tourists traveling to Cleveland, GA. We finally shake off those hot days of summer, but it's still warmer and more comfortable than other parts of the country.
There are plenty of ways to make your vacation rental more appealing. You can recommend top destinations to your guests. You can also provide competitive peak-season pricing.
How should you approach pricing your short-term rental when guests are pouring in? Should you elevate your prices to maximize profits or make it easier for guests to afford a fun and relaxing vacation?
Read on for our quick guide to peak season pricing strategies in Cleveland, GA.
Don't Go Overboard
It's tempting to double or even triple your prices when vacation rental bookings increase. However, you need to keep your competition in mind. The more you increase your seasonal rate, the more likely it becomes that guests will find a lower price with another property owner.
Consider a 20-50% increase during peak season. Don't try to hide a bigger increase in your other fees, either. Platforms like Airbnb are increasing pricing transparency and guests will know if you charge a massive cleaning fee to increase profits.
Offer Early Bird Discounts
Many guests know when vacation rentals start to book up. They also know that prices tend to skyrocket around that time.
These savvy guests are going to book early, which should be mutually beneficial. For you, it means that you have advance notice (and confidence) that your vacation rental will be occupied. For them, it should mean a reasonable discount.
Consider Minimum Stay Requirements
Peak season doesn't just mean that you have an opportunity to make more money. It also means that your property may endure more wear and tear and you'll have less time to clean up and reset between guests.
One way to combat this is to put a minimum stay requirement in place. A three to four-day minimum will ensure that you maximize profits by eliminating single-night rentals that take your property off the market for an entire weekend.
Plan Ahead for Peak Season Pricing
If there's one thing vacation rental managers know, it's that you need a solid plan to get through peak season.
For example, you should stock up on all amenities in bulk because you'll need to replace things like coffee pods and toilet paper at a faster rate. You should also work with a cleaning company that offers reduced prices for increased service. By keeping costs low on your end, you can avoid having to go too high on your peak season pricing.
Call PMI for Vacation Rental Management
Tourists pour into Cleveland, GA for the fall season. If you own a vacation rental, you have an opportunity to make a serious profit in the next few months. However, you'll need a solid peak-season pricing strategy to stay competitive and keep costs low.
Do you need help managing your vacation rental? PMI offers full-service vacation rental management to turn your investment into passive income. Contact us to find out how we can help.
