It never fails, every day we receive multiple phone calls and emails asking us for more information regarding renting out the cabin. The vacation rental section of LakePlace.com is a very popular area – thousands of people check it out each day to find a perfect getaway. Our most frequently asked question: How much should I charge?â€
While there is no equation that fits every situation, over the years we have been able to come up with a few suggestions that should help.
A good rule of thumb – we found that in many instances this simple equation works pretty darn well. Take your annual property taxes and divide it by two. This gives you a pretty solid starting point for a weekly rate. For example, if your annual taxes are $1900, your base rate would be $950/wk.
Next, we recommend that you take a look at what other folks in your area are asking. Visit our cabin rentals search page, click on the region your cabin is in, and try to find a lake home or cabin similar to yours. LakePlace.com has the largest selection of Minnesota and Wisconsin vacation rentals on the Internet so you should be able to find something comparable. If you cannot find a comparable in your area, you may want to try the next region over.
When it comes down to it, you should set a price that you feel is fair and you shouldn’t be afraid to experiment. You can change your rates whenever you like, so if you think you are under or over priced after a couple of weeks – just change it.
For way more information – you many want to check out this book about vacation rentals.
BTW – Vacation Rental listings are only $99/yr on LakePlace.com - contact us to get yours listed!
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