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Updated about 3 years ago, 12/12/2021
#5 All Forums Contributor
- Contractor/Investor/Consultant
- West Valley Phoenix
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Anyone adjusting rates for next year?
#5 All Forums Contributor
- Contractor/Investor/Consultant
- West Valley Phoenix
I had already been tweaking rates for next year, but I got an email from VRBO today urging me to follow the link and do just that. Not surprised at all when their suggestion was to lower my rates.....
As a businessman, when you are already achieving and/or surpassing your goals, it is not time to lower prices, it is time to raise them. My plan was to go up by approx 10% and then tweak further according to the busy dates we saw in 2020 and 2021.
I'm personally confident that STRs will continue to be on the uptick in years to come as I see them still as a relatively undiscovered phenomena. I suppose a horrendous increase in inflation could damper that a bit, but people that travel have money and it would take a lot to make them stay home.
What do y'all think? What are you planning on doing to your rates next year?