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We have a "no party policy" as well as a city noise ordinance rule that a guest has to agree to upon booking. A few friends coming over for supper is one thing but anything more than that and there's a security deposit risk, among other things.
It depends on what your property is geared for. Ours is a vacancy home geared towards a family environment. People who want to party will probably prefer a hotel room near the beach, not a home in a residential neighborhood.
The rates are appropriately higher during peak season to compensate for the higher demand. But I think that the most important aspect is to not devalue your product.We're often inundated with data showing that our rates are higher than the comparables in our area, with the objective of reducing the rate to increase bookings.
If you have a beautiful, well located house or condo in a desirable vacation or business hot spot, then don't devalue your product. It devalues it in the eyes of potential guests as well.
Guests are willing to pay a little bit more if they're getting value for their money and you shouldn't be nervous about it because what you're offering is a fair price.
It's a price / booking volume balance and resisting the urge to cave in to the "lower your rate" bombardment. High season is when we generate the revenues that we need to make sure that our properties continue to offer a great vacation package to our future guests.
With that being said I am offering a very nice, well equipped, well located vacation home in Southern Florida, which is a vacation hot spot. So if I continually lower my rates then I'll need to work that much harder to fill my house throughout the year.
The rate competition game is a game that is difficult to win. So I am confident that I'm offering my guest a very good value for their cost and I work hard to make sure that they get it. The guest feedback will let you know if they appreciate it or not (guests don't like to over-pay and will hold you to a higher performance bar).
Everything else mentioned above about furnishings, treating your guests well, perfect housekeeping, etc, goes without saying in my opinion..