According to the Lee County Visitor & Convention Bureau, Lee County, FL, whose county seat is Fort Myers, welcomes almost 4.5 million visitors yearly. Visitors spend a lot, too: a whopping $4 billion!
Wouldn't it be nice to get a slice of that pie? Of course. One way to do so is by renting your property to Fort Myers vacationers.
However, you must implement effective strategies for optimizing your vacation rental occupancy rate to maximize profits. The experts at PMI Gulf Property Solutions have shared vacation home occupancy strategies to help you get started, so read on.
Optimize Rental Rates With Dynamic Pricing
Dynamic pricing is a strategic pricing method based on seasonal tourism fluctuations. For example, during Fort Myers's peak tourist season, you can increase the rates you charge when renting your home to vacationers. Winter is a peak season, as many folks want to escape the cold climates, although summer also brings in the crowd of beach-goers.
Then, during low season, you'd want to lower your rental rates since the demand for vacation rentals also goes down. By reducing prices, you can still increase rental bookings. You'll make less profit but at least have better occupancy rates.
Market Your Rental as Pet-Friendly
According to Dogster.com, nearly eight in ten pet owners in the U.S. travel with their pets yearly. The site further points out that over half of all pet-owning travelers make plans based on their pets!
All those statistics should tell you the massive role pets play in increasing your vacation rental occupancy rates. So, why not consider allowing pets in your rental? By doing so, you can market your property to a wide range of audiences and keep your occupancy rates high.
Offer Deals to Previous Guests
Another effective method for optimizing your vacation rental occupancy rate is to offer exclusive deals to previous happy guests. For example, you can give them a 10% discount if they book your rental for at least three days or a 5% discount if they only book overnight.
Partner With a Vacation Rental Management Firm
When you partner with a vacation rental property management company, they can take over all your tasks, such as:
- Professionally marketing your property
- Promptly responding to all inquiries
- Facilitating guest check-ins and check-outs
- Implementing dynamic pricing and other occupancy rate-boosting strategies
- Overseeing property inspections, maintenance, and cleaning
So, a dedicated property manager can help increase bookings and keep your property in top condition. A well-maintained property is critical to happy guests, and when guests are happy, they're likely to leave positive reviews, further influencing your occupancy rates.
Start Optimizing Your Vacation Rental Occupancy Rate
Implementing dynamic pricing, welcoming pets, and offering special deals are all effective strategies for optimizing your vacation rental occupancy rate. So, why not consider enforcing these strategies as early as today?
Alternatively, you can leave everything in the hands of our expert property managers at PMI Gulf Property Solutions. What makes us different is that our team primarily consists of six individual PMI franchise owners with many years of property management experience. As a result, PMI GPS is quickly becoming a leader in short-term rental hosting in the Fort Myers and Cape Coral markets.
So, contact us today to learn how we can boost your vacation rental occupancy rates and income!
