With the end of summer in sight, now is the ideal time to review your strategies, improve property comfort, and ensure you continue to attract bookings, even in the quieter months. We share some tips that can help you maximize your earnings this season.
Opportunity to Improve and Renew
Taking advantage of the low season to improve your property can make all the difference in future success. Minor improvements or renovations can make the apartment more comfortable and attractive:
Use Guest Feedback
Review the feedback you received throughout the year and implement improvements in decoration or functionality. Comfort is essential.
Preparing for Winter
Make sure the heating works perfectly and that the property is well insulated. A cozy atmosphere is a big deciding factor for those who want to stay in the winter.
Preparation for Middle-Term Stays
For middle-term stays, such as digital nomads, students, or remote workers, it is essential to adapt the property and highlight it on the right platforms:
Workspace
Ensure a comfortable area for remote work, with a suitable desk and quality Wi-Fi.
Essential Equipment
Include amenities like a washing machine. Less than half of properties in Porto have this convenience, but it is highly sought after for more extended stays.
To reach the right audience, promote your property on specialized platforms for middle—and long-term stays, such as Spotahome, Uniplaces, Flatio, and HousingAnywhere.
Offer Discounts for Longer Stays
One of the best strategies to minimize non-occupancy risk during the low season is to adjust prices to encourage middle- and long-term stays. Offering attractive discounts (weekly and monthly) for multi-month bookings can ensure constant and predictable occupancy:
Encourage extended stays
Adjust your rates to offer progressive discounts for those who book longer, like remote workers, digital nomads, or students. This customer looks for competitive prices, especially outside of the high season.
Loyalty Strategy
Promoting more affordable rates for extended stays increases the likelihood of ensuring continuous bookings and reducing the time the property sits empty.
Optimize Energy Efficiency
During winter, energy costs tend to increase due to higher heating consumption. To prevent these expenses from negatively impacting your profitability, it is essential to improve the energy efficiency of your property:
Invest in energy-efficient solutions
Consider improving the property's insulation or installing energy-efficient equipment, such as efficient air conditioning systems. These investments can significantly reduce electricity costs in the long term.
Separate accounts for extended stays
Charging utilities separately is a good practice for middle—and long-term reservations. This approach holds the guests accountable for their consumption and helps avoid unexpected costs for the owner.
Exploring New Sources of Income
There are also ways to generate additional revenue during the low season by offering services that add value to guests' stays:
Allow pets
Consider charging an extra fee for allowing pets.
Extra services
Offer monthly cleaning or daily breakfast for an additional fee. These services can be decisive for some guests and increase your revenue.
Ready to Monetize Your Property in the Low Season?
Ensuring your property is prepared for the low season is essential to maintaining a constant flow of reservations and maximizing your income. At Host Wise, we're here to support you at every stage of the process, whether it's managing the property, optimizing rates, or creating attractive ads.
With our price management and optimization strategies, we maintain a higher occupancy rate than the market average, guaranteeing a more stable income for our customers.
