With ocean access and a vibrant cultural scene, Fort Lauderdale is the perfect place to own a vacation rental. You can count on visitors any time of year. But you'll want to be mindful of seasonal shifts to ensure you're getting the most from your property.
Keep reading to learn about peak season pricing strategies in Fort Lauderdale!
Spotlight Your Best Amenities
Make sure you have a fresh and inviting property for vacationers in Fort Lauderdale. Vacation home pricing may fluctuate during the year, but guests always will expect a clean space stocked with strong amenities.
If you have a pool or hot tub, for instance, spotlight them in your online rental listing. Take excellent photographs and video footage, too, to help your property shine.
Look at similar listings to yours, as well, to gauge the competition. If you're targeting a certain nightly price, be sure that your property has the amenities to justify the price. Fresh decor, a spacious deck, and a gourmet kitchen are all attributes that can elevate your listing above the competition.
Make the Most of Peak Time
You can maximize rental income by adjusting your vacation home pricing strategy around peak times of the year. In Fort Lauderdale, that means being mindful of the spring travel season. In other words, you'll want to boost your prices during the winter and spring season.
More people are eager to get out of the cold during the winter. And with spring comes spring break, which draws lots of tourists to the beaches. Nudging your prices $50 to $100 higher during the peak Fort Lauderdale travel season can pay off.
During the summer and fall, back down your prices. If you keep them high for too long, you could lose out on business.
Be Flexible
Finally, when it comes to seasonal rental tips, a big one is to be willing to be flexible in your communication with potential tenants. Since you want to be competitive with comparable Fort Lauderdale vacation rentals, you may need to be willing to bend on pricing. This could entail reducing the price slightly for a longer booking or removing the stipulation that tenants must book a certain number of nights.
You can decide how flexible to be by monitoring other nearby properties. Track your competition to see how they adjust their prices, and then adjust yours in response. You'll have a higher occupancy rate if you're savvy about pricing changes.
Follow These Peak Season Pricing Strategies
The right peak season pricing strategies can help you make the most money from your Fort Lauderdale property. Highlight your property's best features in your online listing, and study the competition to determine how pricing will map out over different seasons. Also, be willing to be flexible so you can score the next booking.
At PMI Premium Services, we make property management in Fort Lauderdale easier. We have the expertise and resources that come with being the top property management franchise in the country. Contact us today to learn how we can help you maximize rental income!
