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Welcome to your October Owner Q&A!

Confused about how to price your property? Rachel, Sales and Operations Manager for Property Recruitment here at Sykes Holiday Cottages, is back to answer your questions.

The cost of a break is normally top of the list of customer considerations when they’re looking to book, and they usually have a fairly clear idea in their head of how much they want to spend.

Because of this, pricing your property too high means you could be putting potential bookings at jeopardy; but, at the same time, if you price your holiday home too low, holiday seekers will easily start to question its quality.

As part of the Sykes Family, our owners have totally free access to Income Maximisation, our industry-leading pricing structure that keeps your property aligned with all the complex shifts in customer needs, trends, and patterns across the market.

To make sure our owners have less hassle and more great bookings, our specialists continually monitor demand for your property type and location, locally and nationally.

When demand is high, your pricing is increased to secure you a higher income per booking. Then, during quieter periods, we carefully lower your pricing to maximise the likelihood of bookings, since it’s normally better to have a week booked at a slightly lower price than for your property to remain empty without any income coming in.

There are three simple pricing tiers for you to choose from:

  • Super Income Maximisation is our fastest growing and most recommended option. It allows us to expertly adapt your pricing to the current market, varying it upwards without restriction and downwards to a limit of 20%. This downward limit also returns to 10% in low season, so that the value of your bookings remains protected at all times. We’re pleased to say that the owners signed up to Super Income Maximisation are already seeing a 10% increase in occupancy levels this year, compared to the more conservative pricing tiers, thanks to this offering. As the market is always in a state of change, Super Income Maximisation is a really rewarding way to guard against unforeseeable fluctuation, which is why it’s our most popular pricing option.
  • Our second price tier is Full Income Maximisation. Choosing gives us the discretion to vary your pricing upwards by 25% and downwards, but only to a limit of 10%.
  • Lastly, there’s Partial Income Maximisation. This allows us to moderately alter your agreed pricing, increasing it by a maximum of 25%, where demand allows. Since ‘Partial’ Maximisation offers a more limited scope for flexibility compared to our other pricing options, only a minority of our owners currently opt for it.

Whatever pricing tier you choose, opting in to Income Maximisation is simple.

As an existing owner, just click the link with this video to log into your Owner Portal. From there, select the pricing tab and scroll down the page to the Income Maximisation Options section, to select the option that suits you. And that’s it!

If you’d like to chat more with us about Income Maximisation, just give our Pricing Team a call on 01244 352413 and select option 4.

Or for further information, take a look at our guide on how to price your holiday home.

Let your property with Sykes and earn up to £125,000 per year*

  • Join over 15,000 holiday properties already working with Sykes Cottages
  • We welcome over 26 million web visitors a year
  • Many of our owners achieve more than 45 bookings a year
  • We specialise in turning your holiday property into a profitable year-round income for you

*Based on a 7 bedroom property in the Lake District with bookings between October 2017 to September 2018.

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