Did you know San Diego is known as America's Finest City? This charming Southern California mecca, just south of Los Angeles, is one of the most attractive places to vacation and live in the world.
If you're a rental property owner in San Diego, you may be wondering how to price your property. Read on to learn about peak season pricing and general San Diego vacation rental advice.
Identify Popular Tourist Times
Like anywhere else, there are peak travel times in San Diego. However, this can get more confusing, because San Diego is a popular vacation destination year-round.
In general, San Diego tends to be busier during common travel times, such as the peak of summer and the holiday season. A quick internet search will show you higher rates for July and December.
The ocean water tends to be warmest in July and August, and many people come to San Diego for the higher temperatures in December.
Price for Amenities
In San Diego, attractive amenities include things like patios, outdoor lounges, pools, and hot tubs. Even if the beach is close by, it is nice to relax in your own private space.
Consider buying your rental property in an area with high real estate development. Luxury apartments and condos can easily be converted into vacation rentals for tourists willing to spend more for a high-end experience.
Utilize Dynamic Pricing
When you market your San Diego property, it's important to turn on dynamic pricing. This means the more interest there is in your rental property, the higher the prices will be.
This will help you when the rental market is more competitive. Your property price will reflect factors that make it attractive, without being unreasonably high.
Location, Location, Location
Peak season pricing can be high in San Diego, but one major factor that contributes to it is location. San Diego is a huge city, and there are more desirable areas than others.
For instance, neighborhoods like Pacific Beach, La Jolla, and Mission Beach tend to have properties right on the water or with easy beach access. If you own a property in one of these neighborhoods, you can charge a premium.
Lower Prices in the Off-Season
Do you still want to attract visitors in the off-season? It's important to evaluate your pricing strategy and potentially lower prices during shoulder seasons, such as early spring and early fall. Dynamic pricing should help with this.
However, since San Diego is such a sought-after destination, you can still make a lot of money from your vacation rental property, even in the off-season.
Use Peak Season Pricing in San Diego
One of the best ways to make more money in San Diego is by using peak season pricing. With these seasonal rental pricing tips, you can maximize vacation rental revenue.
Want more San Diego vacation rental advice? Take a look at PMI San Diego, your partner in Southern California for all of your property management needs.
Reach out to us today for a free rental analysis.
