If you are a first time vacation rental investor you may be wondering how to price the investment fo

If you are a first time vacation rental investor you may be wondering how to price the investment for vacationers. Location, hotel suites in downtown chicago time of year and checking hotel suites in downtown chicago out the local vacation hotel suites in downtown chicago market are a few things to consider. hotel suites in downtown chicago Since J.T. Bramlette specializes in rental properties he would like to share a few tips on how to price a vacation property for first time investors.
Competition. Before setting a price, look online hotel suites in downtown chicago for pricing of other rental properties in the surrounding area. See what properties compare to your own and what charges or fees each comparable rental asks of renters.
Season or Year-Round. If the area a vacation property is in has a peak season you may be able to charge more during summer months if your rental is near the beach or more during the winter is it is located in a ski resort area. Some hot spots like California are year-round rentals, so you may be able to charge a flat rate all year round.
Hotels. Research how much it is to rent a hotel per night in the area of the vacation home. If the rental property sleeps 8 people, consider how much it would cost those eight people to rent hotel rooms. hotel suites in downtown chicago You could charge a little less to appeal to renters and emphasize the privacy and home-type stay factors hotel suites in downtown chicago that hotels do not offer.
It is important to include in the listing of any additional fees that may apply to the vacation rental, maid services for example for after a stay or disclose additional hotel suites in downtown chicago charges for any damaged property. James T. Bramlette also recommends that people require minimum stays during peak seasons. Researching the local market and pricing accordingly will offer vacationers a great rental alternative to a hotel stay.
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