Looking for tips for slow season

[Brendan Connolly]

I launched an STR this past June in Cleveland, Ohio. Now that we're entering the slow season, we're experiencing a significant dip in bookings. Given Cleveland's cold winter weather, this downturn wasn't entirely unexpected. To address the slowdown, I've made some adjustments in hopes of increasing bookings:

1. Reduced the Minimum Stay
   • We lowered our minimum stay from two nights to one. However, we also disabled Instant Book to avoid potential issues with one-night stays. This change has helped generate more bookings, but it comes with a trade-off: guests booking single nights on Fridays or Saturdays might prevent full weekend bookings.
2. Lowered Prices
   • We’re utilizing PriceLabs for dynamic pricing and have reduced our rates to stay competitive during the off-season.
3. Listed on Furnished Finder
   • We created a Furnished Finder account to target mid-term stays, which I hoped would solve our slow-season problem. However, we’ve faced challenges with lead quality: Most leads are solo traveling nurses, and their budgets don’t align with our 3-bedroom property. We’ve received leads from displaced families, which are more promising given their larger budgets. My concern, though, is committing to a long-term stay that could extend into the peak season, potentially limiting our ability to capitalize on higher demand during that period.

Has anyone else faced similar challenges with their STR during the slow season? I feel like I'm taking reasonable steps, but I'm curious to hear from others about strategies that have worked for you. Any advice or insights would be greatly appreciated!