Optimizing your new listing’s revenue

To fully maximize your earnings, our experts use proprietary SmartRates technology to analyze billions of data points around the current happenings of the vacation rental industry. We also have access to years of historical data to inform decision-making around your overarching revenue plan. 

With the market changing so quickly, it’s critical that Evolve maintains day-to-day control over your daily rates, length-of-stay requirements, and other dynamic details that contribute to your success. As an Evolve owner, though, you control your Default Minimum Rate and Default Minimum Stay — the lowest daily rate you’ll accept and lowest number of consecutive nights guests can book. Owners can also create Custom Minimum Rates that temporarily replace your Default Minimum Rate during periods of higher demand like local events, seasonal peaks, or holidays. As we make ongoing adjustments to attract the most guests and maximize your rental revenue, we won’t go below the minimums you set.

Your vacation rental’s unique characteristics — like sleep accommodations, bathroom count, and amenities — can all influence rate-setting strategies. So it’s not uncommon for your daily rates to look a little different from your neighbor’s, especially if what you offer isn’t the same. 

Plus, when your listing is brand new to the market, pricing your home just below your surrounding competitors — who may be more established and better equipped to win bookings — can help draw in eager bookers. It’s a strategic short-term move that’s designed to set you up for long-term performance and profitability.

Booking windows, occupancy rates, and revenue vary throughout the year based on your market’s unique seasonality trends. If bookings still aren’t where you expect after understanding the details of your area, Evolve owners can chat with our experts to get an in-depth look at performance and a review of your baselines to see what strategic adjustments can be made to get closer to your goals.

Understanding your area’s unique market trends — and how seasonality can affect revenue strategies — helps set accurate performance expectations from the start.

During your market’s shoulder seasons, expect our revenue experts to strategically set more competitive daily rates and flexible policies that encourage bookings even when guest demand is lower. When it’s peak season, heightened guest interest means your home may be able to be booked at higher daily rates. 

Regardless of season, remember to open your calendar as much as possible to maximize your opportunity for guest bookings. 

Whether you’re just starting out or consider yourself a seasoned pro, we recommend keeping your calendar as open as possible (at least six months of the year) and sticking closely to our ongoing guidance around the other baselines you control (like your Default Minimum Rate and Default Minimum Stay).  

You can also directly help your rental’s performance by investing in the most-booked amenities in your property’s area, using these tips to maximize performance potential, and providing consistent five-star hospitality that encourages profit-driving reviews.