When should I put my week up for rent

[tomsteph1988]

Thinking about renting week out 12/26/20 - 1/02/21 in Orlando. When should I put the add up?
Thanks

 

[CPNY]

Thinking about renting week out 12/26/20 - 1/02/21 in Orlando. When should I put the add up?
Thanks

Is it DVC? I’d wait especially since the virus may keep people away from planning right now. It depends where you list it. If it’s on redweek and you get 6 months out of your listing, put it up 6 mo in advance.

 

[WVBaker]

Thinking about renting week out 12/26/20 - 1/02/21 in Orlando. When should I put the add up?
Thanks

As CPNY noted, this whole coronovirus issue is going to factor into the rental market. How much though, is anyone's guess.

Location of your rental will play a big part, as will, deciding what your cancellation policy is going to be. Keep in mind that if you secure a renter now, at an agreed upon amount for a period months away, you will be locked into that amount. If later on, you find others are getting higher rates for units like yours, you'll be stuck with the lower rate. You can't or shouldn't expect to go back to your renter and ask for the higher amount.

Cancellations can be a pain. You hope if they cancel, they leave you enough time to find a replacement guest. Your guests should be required to give a minimum 30 days notice of cancellation in order to receive a full refund. Anything less and you should be able to retain some of their deposit in order to find new guests.

Understand that if rent it now for a December period, the unit is off the market and you won't be looking for guests. The people you've rented it to can and probably will be seeing units as nice or nicer than yours for less money. If you don't have a "strict" cancellation policy, months down the road they can call you and cancel the reservation with no penalty and you're left trying to find new guests, in far less time.

There's a bit of learning that goes into renting and knowing how to reduce the chance of losing money, but it can be done.

 

[MOXJO7282]

Under normal circumstances I always say as soon as you have the reservation to give you as much exposure as possible. I would still follow that approach quite honestly because it still is a numbers game.