In some parts of the country, tourism is dwindling for the season. Here in Naples, it's only beginning.
Gulfshore Business reported a 15% increase in tourist spending in November of 2023 compared to November of 2022. The fall and winter months are a popular time to travel to Naples as visitors escape the cold weather in their own towns.
For short-term rental owners, that means it's time to start thinking about peak season pricing. Getting a headstart on our busy season is the best way to maximize rental income.
Read on as we share the best vacation rental pricing strategies for the busy season here in Naples.
Reward the Early Birds
According to Smarter Travel, vacationers are booking their rentals earlier than ever before. Now, savvy travelers tend to book their accommodations with at least two months to spare.
Though it may seem counterintuitive, we recommend lowering your peak season rates for anyone booking two or more months in advance. That way, your listing catches their eye as one of the best deals in Naples.
Set Competitive Last-Minute Rates
What about the people who make that last-minute decision to spend a weekend in Naples? Maximizing vacation home rental income is all about maximizing occupancy rates, so you want to get all those last-minute travelers, too.
Keep an eye on your competitors to set smart last-minute rates. All you need to do is offer prices just below the average to make yourself stand out. Don't go so low that you aren't taking advantage of peak season price increases.
Think About Turnover Costs
Your peak season pricing strategy shouldn't just reflect income. You also need to think about expenses. When you have a spike in renters, you also have a spike in turnovers, and that costs money.
One way to maximize income while reducing costs is to implement a minimum stay requirement. Skip the renters who only want to book a single high-value day, like a Friday or Saturday, to stop spending money on cleaning for in-and-out visitors.
Partner with Property Managers
One of the reasons why many Naples short-term rental owners fail to make the most of peak season pricing is that they don't have the time to deal with high-volume occupancy. This is where property managers come in.
The right property management company can handle everything from updating your listing price to scheduling cleaning and maintenance. That way, you can enjoy the peak season and its increased income potential without the hassle of managing your rental property.
Call PMI Gulf Coast for Better Peak Season Pricing
At PMI Gulf Coast, peak season is our bread and butter. We have more to offer than just peak season pricing and seasonal rental tips. We can also take a hands-on approach to your vacation rental so you can start seeing the returns you want without the stress.
PMI Gulf Coast is a top Naples property management company thanks to our combination of local real estate experts and proprietary technology. Contact us today to get the niche services you need for your Naples vacation rental.
