Does the Length of Minimum Night Stays Affect Revenue? ~ Join Southern
If you self-manage your rental property, you may be wondering, “does the length of the minimum night stay affect your revenue?” In a short answer, yes. While you may want to set a minimum length, typically a seven-night minimum, in order to draw in more revenue, you may miss out on a handful of guests who need more flexibility. The world of travel is ever-changing, and nowadays, guests want shorter, more flexible stays and are even looking for the ability to stay somewhere mid-week.
If you are restricting your length of stay, you are missing out on a huge number of potential guests as well as showing no availability. If you are hosted on a major travel website, this affects your property’s ability to rank. If you set a five-night minimum, your property won’t be visible to guests who need something for two nights. Additionally, try not to set a Saturday-Saturday only rule, unless you are mandated by an HOA. If you do, you miss out on guests who look for that Monday or Wednesday arrival.
With a new property, you might consider dropping your minimum stay requirements to capture those guests that cannot take a full week of vacation. During the shoulder or off-seasons, you may consider even dropping the requirement further, especially for short holiday weekends. Properties that have more flexibility can create loyalty and thus can increase repeat stays. Over a full year, properties with fewer restrictions sell 47% more nights online. Wouldn’t you like to sell 47% more nights? By removing your minimum night requirement and having a well-set rate, you too can make it happen!
Contact us if you still have questions about whether or not the length of minimum night stays affects your revenue! As part of our vacation rental management services, we have a dedicated revenue team who is here to help you every step of the way.