Christine Karpinski:  Today's question comes from a lot of owners. We get this question time and time again, so I'm gonna answer it in one broad statement. They ask:

 

Q: "I constantly have renters asking me for reduced rates or telling me that their budget is 'x'. How can I respond to them and still keep them interested?"

A: Okay, here's what I do. First of all, I reply to them politely, nicely, and say I do have that week available, however my rates are firm. Here are my rates. And sometimes I'll even refer to other properties that are much more expensive and say, you know, my property is similar to this one. This one is more expensive. You're already getting a great deal.

Sometimes they'll engage with you, and sometimes they won't. But it's important to at least give them the chance. Now if this is for a week that you're not booked, it's coming up close, you may have room for negotiation. You may want to send them back a counter offer: "I have that week available, however I can't come down to your low price. But I can offer you 'X.'" Come somewhere in between what they're asking and what you're asking, and perhaps it'll result in a booking.

Another thing that you can do is suggest an off season time when your rates are lower. For instance, I had somebody want to rent my cabin in Gatlinburg during October. October is peak season. However, the second two weeks of September are pretty much dead. So they asked for a deeply discounted rate for the month of October. I said, "I'm so sorry. I can't give you October for that rate. However, I can give you September for a reduced rate." And lo and behold, they ended up booking. I booked a week that I wouldn't necessarily have booked, and it was a win‑win for both.