The holiday season is a great time of year for vacation rental owners to list their properties. There are a variety of travelers that holiday rental owners can book, such as:
- Out-of-town family and friends
- Travelers for reunions or cultural celebrations
- Business people
- Leisure travelers
Visiting family and friends during the holidays is the most popular reason for traveling. These holiday travelers comprise 53% of all Thanksgiving and 43% of all Christmas/New Year’s trips.
Of the travelers during this season, “The average Thanksgiving long-distance trip length is 214 miles. This compares with 275 miles over the Christmas/New Year’s holiday. For the rest of the year, the average trip distance is 261 miles.”
The holidays provide rental owners with a niche of individuals who are looking for rentals.
There are a variety of opportunities for the length of property rentals. Some bookings are half-a-day travelers who stay for a night. Other bookings include the Christmas and New Year’s long-distance travelers who have extended stays.
Areas of Holiday Rentals to Research and Promote
Research Market Prices
Research your competition’s pricing for holiday rentals. You should know the high and low season prices for your area. These prices can fluctuate depending on the season.
Note: Make sure your bookings list the nightly rate and any additional charges.
It is helpful to compare your rental to other properties in the area. If you have similar features, see what the competition is pricing their rentals at. If you price your rental too high, you will isolate your rental from the surrounding market. You could potentially lose renters.
Pricing lower than nearby properties can have negative consequences. Drastically different prices between your holiday rental and similar rentals can be suspicious. Low prices could suggest that there is “something wrong” with the property.
Extra pricing tactics to consider for holiday rentals are:
- Requiring a minimum stay: Leaves the opportunity for week-long travelers to book. You earn more revenue will longer bookings. This eliminates sporadic one-day bookings.
- Nightly rates: Set two different rates for weeknight and weekend bookings.
Popular Locations Increase Rates
Your location influences pricing during the holidays. This feature allows you to increase how much you can charge for your rental. Increased prices can result from:
- Your rentals proximity to a famous/tourist area.
- Your rental is near scheduled events like concerts or festivals.
More Property Features Increases Your Rates
The features of your property can elevate your prices. There are a variety of features that boost property popularity and pricing:
- Swimming pools or hot tubs
- Near the beach
- Water or ocean views
Renters look at the number of bedrooms and spaces within a holiday rental. Holiday rental owners should highlight these features for large families and group bookings.
Holiday rentals are successful because of the travelers’ demand. Rental owners can use festivities to promote their location and rental features. Thoughtfully designed holiday rentals can have a magical, romantic atmosphere.
Holiday rental owners can use the holiday festivities to promote their property. If you decided to decorate, function with the word simplicity in mind.
Holiday decorations can appeal to potential renters. Yet, if overdone decorations and holiday festivities can polarize renters.
An even balance is to incorporate simple, clean decorations, depending on the holiday:
- Thanksgiving: Mums, pumpkins, and wreaths.
- Christmas/Hanukkah: A Christmas tree or Menorah, without many personal details. Outdoor lights should be basic. Refrain from blow-up roof decorations.
- New Year’s: A TV to watch the countdown. Purchase decorative plates and cups for snacks / applicable use.
If you decide to leave your holiday rental available post-holidays, make sure to update your property information.
Updating your information after the holidays confirms that you are not limited to holiday rentals. Removing festive photos allows guests to see your home’s features. Updating your online booking with new, high-quality images shows your properties present features.
Do You Have Holiday Rental Experiences?
For some holiday rentals, getting their bookings out into the world requires some assistance. This could include researching the right rental price, or how to promote rental features.
Yet, some renters have mastered marketing their holiday rental.
If you have found ways to balance renter happiness within the holiday season, share your stories and suggestions below.