How do demand patterns affect the pricing for my condominium?
As demand patterns fluctuate, so do the rental rates of the condominiums. However, it is not a direct correlation where high demand equals high price. In times of low demand, it is important to keep price consistent with competition. This means that we do not decrease the rate so much that we are ‘leaving money on the table’ as guests would have rented the unit anyway. Similarly, during high demand times such as a popular convention we do not want to set the prices so high that we drive our guests to stay with the competition. Therefore when pricing your condominium we look at the demand pattern, our competition’s prices, and special events.
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