Loading...
Loading...
Category: Off-Topic & Lounge
By: Tasha Williams
Reply by David Okafor:
This is so common and nobody talks about it. Several things that help me: **Financial mindset shifts:** - Don't compare January revenue to July revenue. Compare January 2024 to January 2023. Year-over-year growth is what matters. - Save 25-30% of peak-season revenue to cover off-season shortfalls. When you have a financial buffer, empty nights feel less threatening. - Use off-season to do upgrades and deep maintenance. These investments pay off during peak season. **Operational off-season strategies:** - Switch to mid-term rental mode (30+ day minimum) to capture traveling nurses and workers - Lower your minimum stay to capture short trips and weekenders - Target local staycation guests with special offers - Adjust pricing with PriceLabs (https://pricelabs.co) seasonal strategy — don't fight the market, ride it **Personal well-being:** - Use the slower season to take time OFF. You earned it during the peak season grind. - Start a hobby or side project that isn't hosting-related - Travel! Host swap with another STR owner — you stay at their place, they stay at yours - Connect with other hosts (this forum, local meetups). Shared commiseration helps. **Reframe the narrative:** Off-season isn't failure. It's the natural rhythm of a seasonal business. Restaurants are quiet on Tuesdays. Retail is slow in February. Ski resorts close in summer. Seasonality simply means you need to plan your finances around an uneven income stream. The best hosts I know use off-season to build systems that make the next peak season even more profitable. Read about off-season strategies at https://strspecialist.com/blog.
Reply by Tyler Jackson:
The off-season is when I do ALL my property improvements: - Deep cleaning and painting - Furniture replacement and upgrades - New photography shoots - Listing Description rewrites - Review and optimize my guest communications playbook By the time peak season hits, my properties are refreshed, my listings are optimized, and I'm energized and ready. The off-season is my competitive advantage, not my weakness. Also: if your off-season is BAD (under 40% occupancy for 3+ months), consider whether your property is in the right market. Some markets are truly year-round while others are highly seasonal. AirDNA (https://airdna.co) data can show you seasonality patterns before you buy.