5 Tips and Tricks for Earning More During Peak Rental Season
Simple things can make your rental more attractive during peak seasons. Photo: Paige Cody.
In the face of the global pandemic, there is no question the world of travel has changed. Travelers are staying local and exploring their own backyard more than ever before. And as the holiday season quickly approaches, the local short-term rental market will be at an all time high from out-of-town visitors to those looking for a magical, holiday hideaway.
If there has ever been a time to revisit your hosting strategy to earn more during the peak rental season, it’s now. While it’s nice to add “no-fee” services, many guests are willing to pay a bit more for a touch of luxury to enhance their winter wonderland stay. Consider presenting upsell opportunities through third-party services — to not only increase your revenue, but boost your rating as well.
1. Increase Rental Pricing for the Holidays
This may seem obvious, but one simple tip for boosting your revenue is to increase the actual price of your rental during peak season. Even 10% increase per night can significantly add up over a season. Make note of all major holidays in your calendar and adjust your prices accordingly in the future.
Noteworthy holidays for the rest of the year? Be sure to increase prices for:
Thanksgiving Weekend: November 24th to 28th, 2021
Christmas Holiday: December 22nd to 26th, 2021
New Year’s Celebration: December 30th, 2021 to January 2nd, 2022
2. Offer Mid-stay Cleaning Services
Those who are visiting far away family for the month of December have likely booked a long-term stay. According to a recent Airbnb survey, there has been a 20% increase in long-stay bookings on Airbnb compared to March 2019. Hosts can capitalize on this, offering easily bookable cleaning services such as pick up/drop off laundry services, mid-stay cleaning, grocery delivery or even fridge re-stock options. If you think of your property more like a boutique hotel, so will your guests — and they’ll be happy to pay the premium!
3. Think About the Whole Family
Often families put off travel because it’s inconvenient and requires hauling too much stuff. Consider making your Airbnb as family-friendly as possible and charging a bit more for the service. Items like cribs, high chairs, a backyard playground, sandbox, toy bin, etc. can be a huge bonus for families and chances are they won’t mind paying a premium to have to bring everything themselves. Don’t forget pets! Hosts can provide dog beds, water bowls and designated cleaning supplies for pups who enjoyed a day in the snow. Another insider tip? Some dog-loving hosts even provide a doggy daycare service so guests can enjoy exploring without having to worry about their four-legged friend.
4. Play Tour Guide
Many visitors arrive at their destination without a plan, so why not point them in the right direction? Hosts can suggest a local tour company or activity in their Folio guidebook, then arrange for an affiliate fee for every guest who visits. This also works well for ski/snowboard rentals, bike rentals, car rentals, winery tasting coupons, and local restaurant coupons. Get creative! You never know which companies are looking to expand their customer base in a fun and targeted way.
5. Make Space for More Guests
One easily forgotten tip for boosting revenue, simply add more space! Families like to travel in groups during the holiday season, so consider adding a pull out couch, futon or hideaway bed to accommodate more guests. You can charge more for each additional guest, so feel free to get creative! Some hosts have been known to double up on bunk beds during peak season to capitalize on top dollar. Also be sure to remember to include additional bedding, you don’t want to leave a guest inconvenienced by having to purchase bedding!
Sometimes all it takes is a little creativity to boost your income. During peak rental seasons, utilize the tips and tricks at your disposal and you’re sure to see additional money in the bank — and more five star reviews than ever before.