What are some guidelines for setting my rental rates?
We recommend reviewing similar properties advertised on our site and have a look at the prices that they have set for their property. Points of comparison include:
- Type of property
- Number of bedrooms
- Number of bathrooms
- Facilities offered
- Standard of upkeep and decor
- Proximity to tourist hot spots
Sometimes you can increase your prices if you offer a special facility or service to travellers. If your rental rates are too low, travellers might assume that there is something wrong with the property and that the owners are trying to cover it up.
We also recommend setting your rental prices for the different seasons. If your market is relatively year round, then you may only need to charge two different rental rates. If your market is seasonal then set higher rates during peak season, and lower rates off season to attract travellers.