Kevin, I would think that during the Holiday season most any location would demand a higher rate than that areas low season. Generally speaking I would think there are 4 main hierarchy of rates, such as:
Holiday season
High season
Normal
Low season
To find out what those are for your area look up your State's website and look for visitor stats, they should have it broken down by month for you. (Of course there can be other key times or large events in the area that might warrant different pricing too.)
I know that's kind of a generic answer, but hopefully it helps.
Kevin, I would think that during the Holiday season most any location would demand a higher rate than that areas low season. Generally speaking I would think there are 4 main hierarchy of rates, such as:
Holiday season
High season
Normal
Low season
To find out what those are for your area look up your State's website and look for visitor stats, they should have it broken down by month for you. (Of course there can be other key times or large events in the area that might warrant different pricing too.)
I know that's kind of a generic answer, but hopefully it helps.
@Jeff Graves thanks. I have experienced what you described in a beach property, but I am not seeing it in a new property in the city of LA so far. All in the same state (California). It's a bit of a different story between "vacation/relaxation/nature/sports" spots and "holiday/tourism" places. That's why I want to learn from those in large cities.
Kevin, what kind of property is it? SFH, Condo, is it in a high rise or small community, are there any "attractions close by".
Who do you think the target market is? People coming for vacation (families or couples), business people, older, younger or middle aged, etc.
I would start with the location and look at what type of person would be attracted to stay there (who would be interested in the lifestyle your place has to offer. Income, family, married, single, ideal age brackets, what types of jobs even ). Then I'd start to do some very targeted marketing to drive traffic to your booking site
I totally agree with Jeff Graves perspective. There is one more category "events" that can be very fruitful and can occur in the low season. They're a bit more difficult to find and track. @Kevin Lefeuvre I would look to tools like airdna.co (not .com) for seasonality pricing research. I sound like a broken record on biggerpockets as I tout them a lot - but they are the one pricing/research tool I have found effective outside of doing your own research on the listing sites.
I do short term furnished rentals to refinery contractors.
During the regular season I charge a regular rate for each occupied bedroom in a house. A 2 bedroom house is $350 per week. 2 guys split it. If a 3rd guy stays on the bed in the living room there is no charge.
I have some nicer 4 bedroom houses, they are $200 per week for each occupied bedroom during the normal season. 2 guys = $400. 3 guys = $600. 4 guys = $800. There are 2 extra beds in the house that I don't charge for.
When there is a turnaround, I charge for every occupied bed in the house. Regardless if it is in a bedroom, in a walk-in closet, in the dining room, or in the living room. I charge the same amount per bed as I do during normal times, but now I charge for every bed.