How to Smartly Set Rental Rates for Your Vacation Home?

When setting the rental rates for your vacation home, you need to keep in mind that the rental rate will directly affect the number of enquiries and bookings which you will receive. So, you need to be extra careful to not set the price of your vacation rental too low or too high.

Consider some of the tips that will help you in setting the right rental rates of your vacation home.

Research rental rates

Do not randomly choose any rental rate which first comes to your mind. Instead, make sure to ascertain the pricing of similar Kissimmee Vacation Rentals on various prominent vacation rental websites. Read on the facilities which the vacation homes offer, the number of rooms, their proximity to the attractions of the area, the space and how your vacation rental fares in their comparison.

Additionally, check out other vacation home listings to determine what additional fees the owners charge apart from the basic rents. These extra charges may include pet fees, pool fees, amenities fees, taxes and cleaning fees.

Keep Nightly, Weekly and Monthly Rates

Your guests may want to know your rental rates for different times, including nightly, weekly and monthly. Usually, vacation home owners typically price their rental homes weekly and may charge 1/5th or 1/6th of the weekly rent as a night rate. When you give your guests an insight about your different rates, this will help them determine the benefits of renting your property for more duration like a week, fortnight or month. During off seasons, you can decrease your monthly rates to lure potential guests who travel during off seasons. Typically, a month rate for Orlando Vacation Homes during off season is similar to a week’s rate during peak season!

Ensure that the Rental Rates are Clear

Always remember that if your potential guests are not able to discover the rental rate which you charge during the dates when they wish to rent your vacation home, they will most likely move to a competitive vacation home. So, do not leave any ambiguity and make the rental rates clear. Ensure that your quote the exact rates for different dates. Do not use vague terms like ‘peak season’ as your potential guests may not know what the peak season is and which season do you consider as off season.

Fix the Minimum Stay

During peak season when large numbers of guests show interest in your Orlando vacation homes, you can typically decide on a minimum stay of one week. During the off seasons, you can lower the minimum stay to even three nights and even target weekend guests. All ascertain the short term rental regulations in your area to determine whether any minimum stay is mandatory.

With the help of the aforementioned tips you can aptly set the rental rates for your vacation home. Now you can look forward to entertaining large numbers of guests throughout the year and have the peace of mind that you have set the ideal rental rates for your Kissimmee vacation rentals!

Endrue Wellton is a professional blog writer and love to write content about tour & travel. So, if you are looking for Orlando Vacation Homes Rentals then you can visit our website at AdvantageVacationHomes.com.