Fort Lauderdale is one of Florida's most popular tourist destinations, with many short-term rentals booked up to 71.8% occupancy even outside the holiday season.
While high levels of off-season bookings are nothing to sneeze at, most investment property owners believe they could do better if only they knew how.
Keep reading to find out how you can lure more off-season travel enthusiasts to your vacation rental property.
Define What Low Season Means for You
Periods of low rental activity differ from place to place and property to property. For instance, bookings slow down at beach hotels during the winter, but that's the busiest time of the year for ski resorts.
For some rental property owners, these quiet times might mean no bookings at all; others only experience a downturn in weekday bookings.
Take a look at your occupancy figures for the last year so you can get a better idea of how the low season rolls out for your short-term rental property.
Make a note of any upcoming festivities or sports events that could affect your bookings, too. Major sporting events can fill up the accommodations for miles, up to six months before the time.
Identify Your Off-Season Travel Target Market
While perusing your data, take a look at who usually books your accommodations. It's likely to be families, and your prices might reflect that.
During the off-season, couples and singles are usually the ones in search of short-term rentals. These travelers don't need to take school breaks into account, and they prefer traveling at quieter times of the year.
Adjust Your Vacation Rental Pricing
It usually makes sense to lower your rental rates during the off-season. Based on the laws of supply and demand, vacationers expect to pay lower prices during slower times.
Yet, you must do this based on your booking data from previous years. Events and bank holidays can cause an upswing in bookings and justify higher rates.
Another aspect to consider is how you price your rooms. If you usually offer a per-room rate, it sometimes makes sense to switch to a per-person rate if you're attracting singles and couples during the off-season.
This works out more affordable for small parties, but you won't lose out if a family arrives to book your vacation home.
Add Some Extras to Appeal to Travelers
Off-season specials are an excellent way to stand out from the competition. Some ideas to consider are:
- Package deals
- Offering one free night for every two booked
- Discounts on local attractions
- Free breakfast
The key to using tools like this is effective vacation property marketing. You can use social media, paid online advertising, and travel websites to advertise your special offers.
Get Expert Help With Vacation Rentals in Fort Lauderdale
Working with a property manager is the best way to maximize your vacation property year-round.
PMI offers expert property management services in the Fort Lauderdale area. We take care of all facets of property management for short-term rentals, including rental maintenance, guest services, and marketing.
Get in touch to discover the best solution for your Fort Lauderdale off-season travel woes.