Is it OK to charge more than pro rata for short stays....
Is it OK to charge more than pro rata for short stays....
We have just completed refurbs of a flat we have just outside Greenwich and have listed it on a few sites. I always thought there was a demand for London lets and although it's only been listed for a week, I have had about 30 or so enquiries, loads for the remainder of August, some for Sept and Oct and a few for Christmas .
Well GREAT, I thought, I'll have the whole thing booked out in record time... no trouble..
But... not quite ....a lot of the enquiries are for quite short lets - 2 - 5 days being the most common. There were a few for a week and one Christmas one for 19 days(!). At first I thought there were so many enquiries that I didn't need to worry about the short ones, but although a few people expressed a real interest in booking, the ones for a week have mostly fallen by the wayside, generally because of people curtailing their trip.
Also, I realised that for short London lets I was going to need to be flexible with arrival dates - which means that many of the enquiry dates overlap with eachother so there's the dilemma of whether to chase a 3 or 4 day enquiry if it overlaps with one for a week or more that might fall by the wayside...
So looks like the short trips are going to be where the bookings are! But then I have to charge more than pro rata because my turnover /cleaning charges are the same whether it's a week or 4 days. What do you all reckon - if you were planning a trip to London would you expect to a higher daily rate if you were staying less than a week somewhere or would you be miffed?
And what's the shortest stay, as an owner, would you feel that you could justify to yourself financially (I guess that one is a bit 'how long is a piece of string' but comments welcomed.
Any of you looking at the ad (yes,I know how nosey we all are and I would look at yours) I have got to retake some more pics - the one of the lounge makes the sofa look really dirty (it's not) and I know you can tell that the pictures are just 'resting' on the back of the sofa, I just had to get the ad on line to try and nab some august bookings.
Well GREAT, I thought, I'll have the whole thing booked out in record time... no trouble..
But... not quite ....a lot of the enquiries are for quite short lets - 2 - 5 days being the most common. There were a few for a week and one Christmas one for 19 days(!). At first I thought there were so many enquiries that I didn't need to worry about the short ones, but although a few people expressed a real interest in booking, the ones for a week have mostly fallen by the wayside, generally because of people curtailing their trip.
Also, I realised that for short London lets I was going to need to be flexible with arrival dates - which means that many of the enquiry dates overlap with eachother so there's the dilemma of whether to chase a 3 or 4 day enquiry if it overlaps with one for a week or more that might fall by the wayside...
So looks like the short trips are going to be where the bookings are! But then I have to charge more than pro rata because my turnover /cleaning charges are the same whether it's a week or 4 days. What do you all reckon - if you were planning a trip to London would you expect to a higher daily rate if you were staying less than a week somewhere or would you be miffed?
And what's the shortest stay, as an owner, would you feel that you could justify to yourself financially (I guess that one is a bit 'how long is a piece of string' but comments welcomed.
Any of you looking at the ad (yes,I know how nosey we all are and I would look at yours) I have got to retake some more pics - the one of the lounge makes the sofa look really dirty (it's not) and I know you can tell that the pictures are just 'resting' on the back of the sofa, I just had to get the ad on line to try and nab some august bookings.
Last edited by Nightowl on Sun Sep 09, 2007 3:45 pm, edited 1 time in total.
Nightowl
Forever going one step forwards and two
backwards......
Forever going one step forwards and two
backwards......
- tree-peony
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oooh, thanks all for your such speedy replies.. looks like I'll be chasing the 3 or 4 days options then as they seem to be pretty likely to succeed.
That's what I love about this forum, ask a question and the answer is forthcoming; I've done tons of research on London lets but the important bit is "what do the punters want?" and I got the answer here within about 5 mins... thanks all
That's what I love about this forum, ask a question and the answer is forthcoming; I've done tons of research on London lets but the important bit is "what do the punters want?" and I got the answer here within about 5 mins... thanks all
Nightowl
Forever going one step forwards and two
backwards......
Forever going one step forwards and two
backwards......
ktee, that sounds like a great idea - then everyone who books a week will think they are getting a bargain.... I've been wracking my brains how to do it and your solution is so simple (and obvious)...
Sometimes when you are in the middle of a problem the solution is staring everyone else in the face but you can't see it yourself cos you're in too deep.
I will work something out along those lines and see how it goes. thanks a lot
Sometimes when you are in the middle of a problem the solution is staring everyone else in the face but you can't see it yourself cos you're in too deep.
I will work something out along those lines and see how it goes. thanks a lot
Nightowl
Forever going one step forwards and two
backwards......
Forever going one step forwards and two
backwards......
lol, that's funny, I was just reading the thread and thinking 'well, why don't you do a nightly rate and offer a discount for full weeks' (not a real discount obviously, more a higher rate for the shorter term) and then read Ktees reply
We went on a dinner cruise up the Thames on Friday, it was fantastic and the Greenwich martime museum looked spectacular bathed in the early evening sunshine.
We went on a dinner cruise up the Thames on Friday, it was fantastic and the Greenwich martime museum looked spectacular bathed in the early evening sunshine.
Don't waste energy on things you can't change.
Costa de la Luz apartment rental
www.ownersdirect.co.uk/spain/S5386.htm
Costa de la Luz apartment rental
www.ownersdirect.co.uk/spain/S5386.htm
- Giddy Goat
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We have a minimum of 3 nights charge for Edinburgh however our prices are much more expensive for daily than weekly rental so we rarely see less than weekly bookings. For holidays like Christmas its weekly, I wouldn't offer nightly there. If I'm booking a self catering property I do expect to pay a higher daily rate for staying only 3-4 days.
Your place looks so inviting, you have a nice blend of photos! I'm sure it will do very well.
Your place looks so inviting, you have a nice blend of photos! I'm sure it will do very well.
I've just asked my daughter who works in a lettings agency in Hammersmith and they only rent by the week. She said she gets lots of enquiries for 1-2 weeks and also for a month. I presume most of her enquiries come from other countries rather than other parts of UK just wanting a few days in London.
- tree-peony
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Ali, wouldn't that be more for corporate lets tho than tourists?
http://www.gozoluxury.co.uk
actually quite nice apartment in Gozo!
actually quite nice apartment in Gozo!