It's estimated that seventy-four million people visit Orlando every year. When you consider all of the appeal of Orlando as a spring break and summer vacation destination, this shouldn't come as a big surprise.
If you own a vacation rental property in Orlando, you have the opportunity to make a lot of money during certain seasons. Unfortunately, many people new to vacation management don't engage in peaking season pricing strategies. This is simply money down the drain when it comes to your rental which can greatly impact its long-term success.
So, what are some peak pricing strategies you should be using for your rental? In this guide, we'll answer this question so you can make sure that you have a nice profit for next year's vacation season.
Know When the Peak Seasons Are and Price Competitively
Peak season in Orlando can get kind of confusing. Technically, the peak season runs from spring to summer. However, anyone who's been during the summer months knows it can get hot, humid, and crowded.
The best time to visit Orlando is between March and May. This is when the weather is best. So, which should you charge more for? We recommend pricing things highest during Spring.
People know this is the best time to come, so they're usually willing to pay more. Plus, you can take advantage of the spring break crowds.
Lower prices slightly in summer, but still keep them up. The crowded nature and vacation season will mean you'll still get renters. But if your seasonal rental prices are too high, you'll scare them away.
Hire Vacation Management Companies
Vacation management companies who have been operating in Orlando for a while are experts at being able to maximize rental revenue. By adjusting your price according to the ebbs and flows of the season, they ensure that you have as few vacancies as possible.
What's more, they take all of the stress off of your plate when it comes to rentals. So they're worth the small percentage they take from your vacation rental income. Just make sure you know what to look for when searching for one.
Make Sure the Property Looks Great
Rental cleaning for your properties shouldn't be underestimated. For starters, this can lead to repeat renters who appreciate a clean environment. It can also promote good reviews.
In addition, make sure you highlight how the property looks in the pictures. Only take pictures when everything looks pristine.
And highlight both the amenities of the property and its distance to popular vacation destinations. That way you can factor both into your rental pricing strategies.
Need Help With Peak Season Pricing? Contact PMI Orlando
We hope this guide helped you learn more about peak season pricing strategies for vacation rentals in Orlando. Here at PMI, we know that vacation rental owners often feel like managing their properties is a full-time job.
And considering the demands of peak season, it often can be. That's why we take all of the work off your plate.
What's more, we use our decades of experience in the Orlando area to optimize rental income. So if you're ready for the management help you need, get in touch with us today.
