As the title says, really. How many different price bands do you set for full week rentals in the UK, assuming your lettings cover all the seasons?
I've seen anything from more than six (dividing into low, high and peak, and subdividing those, broadly speaking) to two (high and low).
Has anyone experimented over a period with different bands and, how/why did you arrive at your final choice?
How many price bands?
I followed the lead set by our main competition in the area and set our tariffs as they did with about 15 different dates/tariffs - so far has worked for us.
It is better to remain quiet and have one think you are stupid, than to open your mouth and remove all doubt....
The biggest mistake we make in life is thinking we have time.
The biggest mistake we make in life is thinking we have time.
I hate price bands...they always look messy if there are too many so for me its a fine line and I try desperately to get them down in number as much as I can.
So I love it when I can start putting 'fully booked' on price bands and reduce them
I have a 2 wk low price, then a mid price and then a high season price - all in a 16wk period!
My competition seems to do 2 things with 'peak season' either it starts around mid july until 1st weekend in Sept or they price it as all July and August.
I'd love to do that but so far haven't had the confidence.
Mouse
x
So I love it when I can start putting 'fully booked' on price bands and reduce them
I have a 2 wk low price, then a mid price and then a high season price - all in a 16wk period!
My competition seems to do 2 things with 'peak season' either it starts around mid july until 1st weekend in Sept or they price it as all July and August.
I'd love to do that but so far haven't had the confidence.
Mouse
x
One martini, two martini, three martini floor!
Oh god price bands. Ours are all over the place. They're based on the prices the agency used to charge when we were with them, and there's a consistant peak season rate but lots of low season periods when no two weeks are the same price. Drives me mad because I have to look the prices up for every enquiry and I'd love to be able to think "If it's September it must be this much". My other half sets the prices, and his project for next year will be to try and standardise them a bit.
So no simple answer then! (Did I expect one.......?)
I suppose that like so many things the answer starts with "Well, it depends......" , and I imagine the biggest influence must be whereabouts you're located, which must also determine to some degree your type of market, followed by what facilities you have that would make the property more or less attractive in different seasons of the year.
So did people start out with good intentions of a fixed number of bands and then find the odd weeks that deserved a bit of tweaking and didn't really fit into an existing band? Or is the whole idea of bands just something forced on us by various listing sites, and not particularly helpful?
Maybe the question is whether the number of bands makes any difference at all to the prospective guest looking at your property? Any thoughts?
I could also get into the subject of pricing as a whole, but there's another thread going on on that so I'll go and post there.
I suppose that like so many things the answer starts with "Well, it depends......" , and I imagine the biggest influence must be whereabouts you're located, which must also determine to some degree your type of market, followed by what facilities you have that would make the property more or less attractive in different seasons of the year.
So did people start out with good intentions of a fixed number of bands and then find the odd weeks that deserved a bit of tweaking and didn't really fit into an existing band? Or is the whole idea of bands just something forced on us by various listing sites, and not particularly helpful?
Maybe the question is whether the number of bands makes any difference at all to the prospective guest looking at your property? Any thoughts?
I could also get into the subject of pricing as a whole, but there's another thread going on on that so I'll go and post there.