How To Establish & Calculate Self Catering Rental Rates When You Start Out
It’s not easy to know how to set your short-term rental rates when you start out with your self catering accommodation. The other issues is that you don’t know what your potential income would or should be. In order to help I have created a self catering daily rate calculator.
The idea is that you sit down and decide what you – conservatively – would like to make with your self catering accommodation over a year.
You enter the annual expected income figure, the occupancy and it will calculate the ideal rental rate per night over 12 months. It uses seasonality for the different seasons.the base
As soon as your are happy with your rates you can play around with the occupancy percentage to see what a slight increase in occupation will do for your short-term accommodation rental business.
I believe that 33% occupation is base when you start out, but then you need to market aggressively. Many great accommodation owners achieve 50% and more easily.
During a survey I did under local accommodation owners some owners some get 75% during winter. But that’s established businesses and you are not there yet. see the amazingly high occupancy during winter.
The idea is that you grab your copy of the Self Catering Rate Calculator. Just make a copy or download it. And play with it. Let me know if you have any questions.
If you want us to give you a free consultation to establish rates please leave a comment below.
Johan Horak at CapeHolidays.Info where we help self catering accommodation owners in marketing their homes effectively.