Columbia's vacation scene has grown every year since the height of the pandemic. We saw over 16.4 million visitors last year, compared to the 15.8 million the year before.
That's why it's vital to make certain your vacation rental pricing strategies are bringing as much income to your business as possible.
PMI Palmetto is here to help you elevate your strategies so you find success. Keep reading to learn all of our top vacation rental tips that you can implement right away!
Cater to Columbia's Vacation Seasons
Do you know when Columbia sees the most vacation traffic? This key piece of information should impact your pricing strategies to match the demand for vacation rentals. Typically, Columbia's vacationers love to come visit in the following patterns:
- May to August are the busiest and most attractive months
- November to February are the slowest months
- March, April, September, and October are somewhere in the middle in terms of visitors
Plan your Columbia, SC, vacation rentals by following these highs and lows. For example, you can maximize your profit during the high-demand months while offering discounts to entice guests during the slower months.
Use Many Rental Channels
It's in your best interest to use as many rental platforms as possible without stretching yourself too thin. The key to mastering this strategy is to allow yourself to be flexible.
Each platform is unique. Some see more traffic while others take more of a cut from your profits. Try to draw more people to your preferred platform by offering incentives or discounts.
Set a Base Stay Minimum
It takes more time, energy, and money to set up a rental than people realize. When you want to maximize rental income, you need to make sure your effort doesn't go to waste.
You can achieve this easily by setting a stay minimum. By ensuring that guests stay for a minimum of a week, for example, you can lessen the number of times you need to reset the rental every month. The rental will stay in use for longer than a few days, and you'll bring in more income.
Provide Loyalty Benefits
One of the lesser-known vacation rental pricing models is the inclusion of loyalty benefits. When you have attractive vacation rental rewards, guests may want to return far more often. This is why you should offer benefits for them choosing to stay with you again, such as:
- Discounts
- Gift cards
- Charming rewards like a gift basket or free tickets
- Complimentary tours, meals, or activities
More Vacation Rental Pricing Strategies With PMI Palmetto
With these vacation rental pricing strategies to help you, your rental business should see improvements in no time. These clever strategies work even better when paired with trusted advice from a local leader in the vacation rental industry.
The co-owners of PMI Palmetto have been in the real estate industry since 1996. With their expertise and backing from the dynamic PMI family, PMI Palmetto can aid you with all of your property management in Columbia, SC, including maintenance, finances, and pricing issues.
Check out our full list of services and we'll work together to increase your rental income!
