Do you make every effort to rent at a higher price in the “on” seasons and not worry about lowering your prices during the off seasons for fear of degrading your image? We have a ski condo which rents well in the winter and summer but Spring and Fall here are known as “mud season.” I don’t know how much lower we would need to go to get it booked. Just wondering if other have this fear of “if I keep lowering my prices during the off season what kind of renters will I be attracting?” Will they be more of a liability than it is worth? Or if I have low pricing, will potential renters think the place is too “cheap” for them?
This is our first year with the property so we’re newbies and don’t know what to expect. We have an in-town manager who says that he monitors the general willingness of people to rent all year but we don’t know how to manage our managers. They work on commission so I could see that their motives could go either way. On the one hand they don’t get paid either if no one is in our unit, but on the other hand, they don’t have to monitor the place or fix anything if no one is renting. Our place is a little bit farther out of town than the other rentals they have and I could see that being a motivation.
Thanks for any help or discussion!!!