I went on a date once and I made the novice mistake of allowing my date to choose the restaurant. Everything was going great until I opened the menu and noticed: NO PRICES!!! I was a rookie at the dating game, but it didn’t take rocket scientist to figure out there was only one reason why the prices were not in the menu. You guess it, the food was very expensive.
Turning a corner and thinking about the vacation rental market, I often find many property owners that do not post their prices. After working for many years with vacation rental property owners, I have pretty much heard all the flavors of reasons you can think of. I want to go ahead and look at some of those reasons and hopefully convince some of you out there that posting your prices is the best way to go.
The number one reason I hear from property owners is that their prices are too high and they don’t want to ‘scare” possible travelers. Now let’s think about that for a minute. Say I”m a traveler looking for a Breckenridge vacation rental. After taking a few minutes to define my needs I finally have 7 properties to choose from. They all have attractive pictures and enticing text. I notice that 2 of the properties don’t have any prices in the ad, while the other 5 have their prices clearly defined. The chances of that traveler clicking on the properties without prices are lower than the chances he or she may click on the vacation rental ad which has all the information they need. Besides, think of the restaurant example; the first thing that will go through the travelers mind is “Why don’t they have their prices posted?, they surely must be expensive!” So in trying to “not scare” the traveler you are doing just the opposite.
A few things to consider if this is your case. First of all, the most important thing to take into consideration is VALUE versus PRICE. If your property offers better value than others in your area, then it is important that you communicate that well right from the beginning. No one knows your property more than you, so if you have decided upon your prices and you are sure of them, then don’t be afraid to post them. Travelers will be more enticed and may be willing to pay a bit more if they realize your vacation property offers more value. In some cases some property owners may need to do a more in depth market analysis to compare their property and what it has to offer, with similar properties in its area. Maybe your property is over priced and you may need to lower your prices to be more competitive. What ever the case, post your prices, it will at least show travelers you have nothing to hide.
Some other property owners have expressed that their pricing structure is too complex and they rather not post it online. If your pricing structure is so complex that you cannot post it online, you may want to consider revising it and making it simpler for travelers to understand. If you cant explain it online, then its time to make it simpler. Travelers should be able to see at a glance how much it will cost to stay in your property, without having to make too many calculations in their head.
I know, I know, it takes time to update my information, specially my prices because they change all the time. It’s a good thing that Rentalo has a very powerful and flexible pricing table for you to use. You have unlimited ranges that you can ad, even if you have multiple room types. This is especially helpful to Bed and Breakfast and Hotel owners and managers, who need to display multiple room types during the same time period.
Whether you have a vacation rental, bed and breakfast, hotel, or any lodging posted on Rentalo or any other service, posting your prices is one of the most important pieces of information you must post.
The beauty of the internet is that it allows its users to gather a large amount of data in a very short period of time. This is great when you need to make a decision, because you are able to see all your options without having to spend days gathering information. Do us all travelers a favor, post your prices and make the decision making process smoother for the entire industry.