Quick Guide to Help Set the Seasonal Pricing for Your Holiday Home

We often see people’s travel history entirely depending on the season. During the summer vacations or the winter vacations, most people want to reallocate to various suitable destinations. Seasonal vacations are a big hit amongst people living in Dubai. Monthly stays in Dubai bring in a lot of revenue to the rental homeowners. It is that time when they need to be at their best, especially regarding pricing and services.

Rental owners must plan their seasonal rates for their holiday homes accordingly. They cannot charge an expensive or low rate during the season. To help you understand how the seasonal prices work, we have prepared a quick guide to help you set out the seasonal prices for your holiday home. Read more to know more.

Vacation rental management

Choose The Season

One of the biggest challenges in the holiday home industry is catering to the right season. Most of the time, rental owners keep their prices consistent and forget to charge the seasonal rates to their guests. It creates a lot of confusion. Since the price listed on the website shows considerably low as per the season, the property is overbooked. Even though there is 100% occupancy, the rental owner will still suffer losses. The reason being he did not charge seasonal rates. Hence it is wise to choose a particular season and cater to the guests accordingly. The seasonal prices must be applicable for Christmas, New Year, Weekends, and Public holidays.

Decide On A Fair Price

Once you know the seasons you want to cater to the guest, the next step is to fix the seasonal rates. Any rental homeowner might need to analyze the income he wishes to make during the season. And to do so, he is expected to list out all the expenses like utility bills, mortgage amounts, loans, EMI, property rent, etc. After all, these are kept aside; he needs to plan the budget and accordingly charge for the holiday homes.

Vacation rental management

Regulate Your Price As Per The Season

Now that you have set the regular price for the vacation home, it is easier to charge the seasonal rates. Depending on the season, one can charge percentage-wise, like Christmas, New Year, or public holidays. To make things simple, categorize the season as peak season, regular season, and off-season. It will help you list out the prices accordingly. The rental owners can set a 60% margin as the seasonal price on the regular-season costs and 20% less as the off-season price on the regular-season prices.

Short term stay in Dubai are very common amongst the people, so owners of vacation homes must plan their seasonal prices wisely to avoid running in losses.