Killing price techniques

Setting the price for your holiday home is one of the most important steps to your success. There are many factors which need to be considered when calculating how much rent to charge. Choosing the correct price means you get the most rent for your home without scaring away potential renters by overpricing. Factors to consider when determining the correct price include:

• Location: The saying "location, location, location" applies in a full degree here. In other words where your property is located will, to a large extent, determine how much you can realistically ask in rent. Its proximity to desirable venues such as waterfront, downtown, golf course or sporting/special events will impact on the demand and therefore the rental value.
• Condition: Obviously the condition and level of upkeep of your property will have a considerable impact. Is your home well painted and furnished. Do you have amenities that will attract the renters such as swimming pool or Jacuzzi?
• Time of the year: Demand varies with the time of the year. This way it may be entirely possible that you will establish not one rental rate but several. The highest rate for the high or peak season, a lower rate for the low seasons and the lowest for the off-season.
• Competition: Check the prices surfing HolidayHomes.org for holiday homes in your area. How much are other houses in your neighborhood renting for? No matter what your house is worth, if other similar homes in the area are under priced, holidaymakers will generally rent that home first. Check on a regular basis what the other holiday home owners offer.
• Price flexibility: This may be a good time to mention that there is a lot to be said for being flexible about rental rates and terms. It is better to receive less than nothing. Think about this when setting your prices.
• Holidaymakers return: Offering low prices can make your holidaymakers book with you next year. It will also attract new holidaymakers who will find your advert interesting.
• Simple pricing scheme: When preparing your advert set several pricings according on the season. Oversetting of your price list can confuse the holidaymaker and your advert can become less attractive.

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