The Business Blog ~ Minimum Night Stays ~ Southern Vacation Rentals
When booking a vacation, there are a few things that come into play; one of them is the number of minimum night stays required. Some vacation homes or condos might require 3 nights, while others require 7. Oftentimes, guests look for more flexible dates when searching for a vacation rental. Not everyone can (or wants to!) take a week-long vacation. Depending on the size of the property, there may not be a strong demand for 7-night reservations. This is where a 3-night minimum comes into play. As a property owner, you may be wondering which is better: 3 nights or 7 nights?
Shorter minimum night stays mean higher traffic and more turnaround. This means the rental is cleaned twice as often, inspected twice as often – inviting higher traffic and wear-and-tear on the property. Ultimately, the question is: if having 3-night minimum stays increase the number of nights the property is booked throughout the year, will the increased revenue cover the potential increase in wear and tear of the property?
This is a great question! Booking trends have evolved over the last few years, indicating an increase in shorter “getaway” stays. During certain times of the year, revenue could be left on the table. For some properties, going with a 3-night minimum instead of a 7-night requirement will increase the return on investment (ROI). Sometimes, properties in high demand will require that 7-night minimum stay. For you, the owner, the best way to increase your ROI would be to have a healthy balance of 3-night and 7-night minimum stays depending on the time of year.
Are you interested in more information about our property management services? Then visit our website today to learn more. We’ll see you next time.