Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Medium-Term Rentals
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

51
Posts
29
Votes
Joe Gee
  • Investor
  • New Orleans, LA
29
Votes |
51
Posts

How to manage booking gaps in Medium Term Rentals

Joe Gee
  • Investor
  • New Orleans, LA
Posted

I tend to have 2-3 week gaps in my medium-term rental bookings.  

Does anyone have a strategy to limit the gaps in between bookings?  

Thanks

Most Popular Reply

User Stats

538
Posts
423
Votes
Allen Duan
#1 Medium-Term Rentals Contributor
  • Property Manager
  • Los Angeles, CA
423
Votes |
538
Posts
Allen Duan
#1 Medium-Term Rentals Contributor
  • Property Manager
  • Los Angeles, CA
Replied

This has been one of the biggest challenges for us managing mid term rentals and I'd love to hear how others handle it. Here's a summary of what I've learned so far.

1. Some people only leave their calendar available for check in for the first week or so after the current booking ends. This is a for sure way to prevent large vacant gaps, but we don't use this strategy because it severely reduces your visibility on Airbnb and other OTAs and could possibly affect your SEO for those sites.

2. I've considered turning off Instant Book for Airbnb, but decided against this because it also hurts your SEO significantly.

3. Our current strategy is all about pricing. I'll try to keep in brief but I'm happy to share more. Essentially you're losing money on those large vacant gaps. Let's say you rent out a property for $4000 a month. If you have a 2 week vacant gap, that's $2000 of potential income lost. What we do is adjust our pricing so the booking that comes after the 2 week gap sells for $2000 more than our normal rate to make up for the lost income of the 2 week gap. In other words, if someone books your property and creates a large vacant gap, they paid enough extra for their booking that you would be ok with the gap.

4. Our secondary strategy for when we do have a larger gap, or even a smaller one, is to sell the extra days at a steep discount for the guests before and after the gap. You're essentially getting $0 for those dates so any amount you can sell them for as an extension or earlier check in is bonus income.

Let me know if you have any questions. I'm happy to elaborate further!

  • Allen Duan
  • Loading replies...