What should my rates be?
Written by Jonny Gordon Tuesday, 30 April 2019 16:47
It can be difficult to decide on rates for your self catering property. Here's a few tips to get you started:
- Search our websites for a range of dates, find similar properties to yours (standard of furnishing, location, size, etc.) and base your rates on what they charge
- Start at the lower end if your keen to start booking out your property. This doesn't mean selling for rock-bottom, but it's a good technique to get started
- Increase your prices if you're getting plenty of bookings. If your availability calendar is full, you're rates are probably too low. Calendar empty? You may need to reduce your rates.
- Marketing costs and your rates
- We often get asked if it's OK to add our commission on to your rates. Whilst we don't encourage it, we don't mind if you do this.
However, there may be a better way of looking at this. Marketing is such an important part of running a self catering apartment, so it makes sense to build your costs into your rates.
Costs can include:
- Commission from companies like us
- Annual fees from advertising websites
- Development and maintenance of your own website
- Flyers, emails, time spent contacting previous guests, etc.
- Setting a single rate that you use across all websites allows you to manage your prices with ease, and you can always offer discounts to people that want to book direct or stay with you again.
And remember, if you do increase your prices to cover our commission you're potentially making yourself more expensive than others on our sites which would results in fewer bookings for your apartment.