Optimized Pricing for Large Homes
GuestSpaces Vacation Rentals specializes in managing Austin’s large, 3BR+ properties that comfortably sleep anywhere from 10-20+ guests. These high-capacity homes often have a greater maximum earning potential than their smaller counterparts and a different pricing strategy must be utilized in order to maximize the overall success of the listing.
Base Rates, Additional Guest Fees, and Pricing Floors
GuestSpaces data shows that most bookings are not made at the maximum capacity of a given property. In fact, most rental groups consist of under 10 guests! By utilizing base rates and additional guest fees, our large properties are able to accommodate groups of any size while maintaining an appropriate nightly rate.
Base rates are typically set assuming 8-10 guests per booking. During the initial listing set-up, your Account Manager will discuss any pricing floors, or minimum nightly rates, that you wish to set for your listing. This floor will be honored if both the Homeowner and GuestSpaces agree it is appropriate. An additional guest fee will be charged for each person over the guest count used to generate the base rate.
Each listing is set up uniquely to ensure the base rate reflects the perceived value of the property. This provides opportunities to accept smaller groups (at an appropriate rate) which results in higher overall occupancy and revenue!
Reading Your GuestSpaces Revenue Projection + Homeowner Portal
New GuestSpaces Homeowners receive a revenue projection detailing the expected nightly rates and maximum gross annual earning potential of their home (net of cleaning fees and taxes). Keep in mind this projection is generated based on the maximum sleeping capacity of your home and not every reservation will be for a group of this size.
By utilizing the GuestSpaces Homeowner Portal, you are able to see booking details, such as group size, that allow you to adjust your expected annual income at any time.
If you’re interested in receiving a revenue projection for your large vacation rental property, please contact our team at info@guestspaces.com.