About 57 million people visited Atlanta in 2019. While many of these people stayed in hotels, a growing number chose to stay in an Atlanta vacation home. This increased demand for short term rentals presents a potentially profitable investment opportunity for real estate investors in Atlanta.
Owners need to understand peak season pricing to make a vacation home investment successful. Accurate pricing ensures competitiveness and encourages booking. Follow this guide to understand peak season pricing in Atlanta better.
When Is Peak Travel Season in Atlanta?
Peak tourism season in Atlanta is from May through September. During these months, the weather is warm and sunny.
The heaviest travel times occur from June through August. This is when many outdoor festivals and events draw people to the city.
Average Short Term Rental Pricing
During peak season in Atlanta, short term rentals average around $150 per night. However, this price does not tell owners much. Short term and vacation rental pricing can vary greatly.
Factors Impacting Short-Term Rental Pricing
Demand is one of the biggest influences on peak season pricing. With the 2023 season expected to surpass 2019's record-breaking numbers, homeowners can expect pricing to be even higher.
Pricing also spikes when special events are happening in the city. This could be inflated pricing for a specific week or weekend.
Vacation rental amenities have a significant impact on pricing. Rentals that offer many amenities can charge more for the additional perks.
Location can have an impact on pricing. Vacation homes near tourist attractions can charge more than those off the beaten path.
Short term rentals near convention centers can experience high demand during the summer convention season. Rentals in and around downtown can also command a higher price. Their proximity to tourist attractions makes them desirable.
Market saturation can play a role in pricing. If your vacation rental is one of few in the area, you can charge more because the limited supply creates increased competition among renters. In Atlanta, larger vacation homes have fewer numbers, inflating their vacation rates.
Finally, size and condition will play a role in pricing. Larger and newer homes can charge more than smaller and older homes. Recently remodeled homes and those with modern appliances have a fresh feel that can support a higher price.
Stay Up to Date With Peak Season Pricing
Working with a property manager is a great way to stay up to date with peak season pricing changes. A property manager can also help homeowners determine the ideal pricing for a property. Because there are so many factors, it is a delicate balance to determine the ideal pricing.
Price Your Atlanta Vacation Home Correctly
Understanding peak season pricing is crucial when renting out an Atlanta home. Adjusting a vacation home's rate will help it to stay competitive in a changing market. During peak travel season, when demand is high, you can raise your rental rate while ensuring it stays fully booked.
Contact our team of property managers to price your Atlanta vacation rental competitively.