Pricing your holiday let
Pricing your holiday let is an integral part of marketing and profiting from your holiday home.
Getting it right is a combination of knowing the area, the key travel seasons, the running costs of your property and the letting process, and staying on the ball when it comes to the things that influence the market both locally and nationally.
Pricing can be used strategically across the seasons to boost bookings, give you a competitive edge or to attract particular clientele. On this page we outline the core elements of pricing your holiday let and how HolidayHost can help you maximise income from your property.
Pricing support from HolidayHost
Price bands for your holiday let
With our extensive knowledge of the local market as well as key insights into the wider factors that might influence pricing (such as travel trends and global events), our team puts together strategic pricing bands for holiday homes in South Devon and East Cornwall.
When you work with us, we will consider all aspects of your holiday home and assess where it is best placed within those bands. You are not obligated to accept our recommendation, but are advised that the banding has been carefully calibrated to present your property to the letting market and help you to achieve the most profit.
Annual pricing reviews
Some letting agents set prices for holiday homes up to two years in advance. We review them annually. The reason for that is to ensure pricing is commensurate with the current market, but that you also get the best prices possible for your property.
This approach makes your property more competitive in the local marketplace, especially with the help of lower commission rates through the HolidayHost + Online Travel Agency combination.
Low season and special event pricing
Our price bands allow for pricing to fluctuate according to different seasons, so that you can maximise bookings in the quieter months as well as peak periods. We also account for annual and one-off events that can impact pricing.
For example, in Salcombe and Dartmouth the summer regattas are prime periods when holidaymakers flock to the area. As a result, those weeks command a premium that’s unique to the area.
Discounts and special offers
Whether it’s last minute availability as a result of a cancelled booking, or a few days that haven’t been filled over a weekend, discounts for shorter stays, and special offers to fill gaps can be a great way to squeeze additional income from your home when you’re not using it.
At HolidayHost we keep a close eye on bookings at your holiday home, so we can advise quickly and efficiently on whether there’s an opportunity to leverage a discount or special offer.
Deposits and fees
At HolidayHost we know it’s not just about getting bookings, it’s about making sure travellers are committed to those bookings and that our holiday homeowners are protected as well.
We continue to recommend taking a deposit at the time of booking and we also advise on the level of damage deposit to set in line with your pricing. This will help to protect you against cancellations, but also to put funds towards any damages as well.
If you would like to discuss HolidayHost’s approach to pricing your holiday let, and get an idea of the profitability of your holiday home, contact the team for a consultation.
