Renting out your second home as a seasonal rental home can generate Thousands in additional income. We’re often asked about what is the optimal rental rate. Our answer depends on several factors like season, location, competitor pricing, and more. This article gives advice and tips on determining the best rates for your rental.
Investigate rental rates on other seasonal rental websites to find a range of prices for a vacation rental property of similar size. Websites like Snowbirdseeker.com and Craigslist.com offer plenty of rental rate comparisons. If you have a 2bedroom 2 bath seasonal rental in Miami it should be priced similar to the same size place in Miami on other websites. It is important to review the amenities offered to help gauge the right pricing level.
Clearly identifying the rent amount and common rental fees will reduce confusion and decrease the chance of any payment conflict. Some fees that may be additional are cleaning fees, deposit, taxes, and pet fees. Separating these fees from the total rent amount lowers the displayed rent, which will attract more renters. Most snowbirds or renters will not be turned off by 10 percent in additional fees and expenses.
A little research on the net can reveal whether your rental can be priced as a seasonal rental or a long term rental. Seasonal rentals are popular with snowbirds because they are usually in warm or very desirable locations. Consequently, the rental may be able to fetch double what it could during the off season. Many Florida seasonal rentals charge $3000-$5000 per month in season. Conversely, the same rental may charge only $1000-$3000 during the off season. Ultimately managing seasonal rentals for snowbirds is about setting the right price and making sure your guests are comfortable. Comfortable guests translate into repeat business. For more vacation rental property management tips, read our article How to Screen Potential Seasonal Renters.