Did you know that July is the busiest travel month in the US? The height of summer is a popular choice for good reason: Kids are off of school and adults often have more leeway with taking time off of work.
If you own a vacation rental, you may be wondering about vacation rental pricing during peak season. Here are some of the best seasonal pricing tips to attract guests and earn a profit.
Identify the Peak Season
Depending on your location, the peak season may be drastically different. However, the peak season in Georgia is summer. Even though the temperatures rise, many people like to escape for their ideal summer vacation.
Since tourism increases in the timeframe of June through August, that is a good time to increase your prices and still get reservations for your vacation rental.
Use a Dynamic Pricing Model
Dynamic pricing is a fantastic tool that helps you to set the correct rates for your property. It takes factors into account such as popularity, peak season, and the desirability of your rental property.
Dynamic pricing means your rates will adjust when more people are interested in booking. Then, when there is less interest, the rates will drop, which can still lead to increased reservations.
Incentivize Longer Stays
Guests staying longer in your properties is a great way to save on cleaning costs and other fees associated with guest turnover.
Many booking platforms have monthly options. Guests can book longer stays for a cheaper overall rate per night.
Make sure to inform guests in the listing that the rate will go down if they reserve a longer stay. Depending on the length of their original plan, they may be getting more bang for their buck.
Highlight Peak Season Attractions
Pricing strategies for holidays should also include seasonal activities and attractions. Leave guests a guidebook with this information. You should also include it in your listing to attract new reservations.
For instance, the craft beer and restaurant scene is thriving in Blue Ridge. Your property may appeal more to beer tourists or adults with animals, rather than families with children.
Expand Your Amenities
Amenities are a key feature that can make or break your bookings for your vacation rental.
Consider investing in a hot tub that guests can use during the peak season. There's nothing like winding down from a busy day and relaxing in a spa-like setting.
Highlight unique features of your property in the listing so that it stands out.
Know Your Peak Season Pricing
If you live in a high-demand area, peak season pricing is the best way to maximize rental income for your vacation property. These strategies will put more money in your pocket when it matters most.
PMI North GA Mountains can help you with your vacation rental management needs. Our extensive knowledge of the Blue Ridge, GA real estate market benefits our clients every day.
Ready to venture into vacation rental property ownership? Contact us today to get started and schedule your free consultation.
