It’s very important to understand that in the short-term rental market, earnings per month or during particular periods, vary by season. These seasonal patterns for your specific market impact the nightly rates we can successfully charge guests to maintain your occupancy. Vacation markets typically have much more pronounced seasonality compared to urban markets due to the weather.
Examples of this include:
- Far North Queensland and Darwin where the dry season is peak season vs the wet season which sees lower demand
- East Coast markets (Sydney, Gold Coast, Newcastle, Melbourne) where summer is the peak season and winter is off-peak (except for key events).
- Melbourne has various months of the year that are considered peak due to the frequency of events throughout the year.
Your property's earnings on the short-term rental market will generally outperform the long-term rental market on an annual basis. However, monthly earnings are lumpy and can be inconsistent in comparison to the long-term rental market. Please keep this in mind and ensure you are managing your property's cash flow appropriately.
Keen to learn about Hometime's pricing strategies?
Our experts Abdullah and Dale, and CEO Billy explain our pricing strategies including how we set nightly rates, seasonality, and strategies to increase occupancy here.