Boosting Business During Low Peak Rental Season

Boosting Business During Low Peak Rental SeasonIt may be winter, but that doesn’t mean your vacation rental business has to slow. If you’re lucky enough to have a property located close to mountain resorts, December and January might be your biggest months. However, if not, you might find that your business slows this time of year. In this article, we’re going to examine how you can boost your business during a relatively slow time of the year. More importantly, protect your rental with a customized Pigeon Forge Vacation Rental Insurance policy.

Identify your slow season.

According to Rentalpreneurs, in the hotel industry as well as at vacation rental management companies, there is a sweet spot within low season, called the “shoulder season”. It is defined as the travel season between peak and off-peak seasons (particularly spring and fall), when fares tend to be relatively low. This is when you can make a lot of money.

A slow season doesn’t necessarily mean your rental is completely empty. You might still get some bookings, but just not for long periods or for the peak price you want.

Identify your slow season customers.

Who are they? How many people stay? For how long? Take data on who rents out your properties during the high and low season and rely on this information to market your efforts year after year to attract these people again.

Lower the prices.

Yes, you do have to lower your rental rates in the low season. But as you now will have studied the pattern of the demand at your own vacation rental, you now know that you only need to lower your prices when the demand drops. You also know that certain weekends will be in high demand, so you keep your prices up during those times.

Compare prices to similar listings on major sites such as HomeAway and Airbnb. This will allow you to adjust your rates but still remain competitive.

Offer incentives.

If, for example, you want to boost bookings during the weekdays, consider offering a free night or reducing the minimum stay to cast a wider net.

Alternatively, you can offer complimentary dinners at local restaurants to spark some incentive for newbies for visit your rental. This also goes for local concerts and events throughout the slow season. Throw in a pair of tickets or a voucher for a free drink or meal. A little effort goes a long way in making your guests feel special and taken care of.

About Barnes Insurance Agency

At Barnes Insurance Agency, we specialize in vacation home rental insurance to ensure the protection of your property and assets. We strive to offer customizable solutions to meet your specific needs. For more information, contact us today at (877) 279-2500.

Please follow and like us:

Comments

comments

This entry was posted in Blog, Vacation Rental Insurance and tagged , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed.