RESERVE NOW or BID NOW?
How do I know whether to
reserve or bid?
If you are firm as to
the dates you want to be on
the Monterey Peninsula and
the dates are during a high
season or a holiday, you
will want to reserve as soon
as possible, since the
likelihood of the property
getting rented for a high
season or holiday time is
great. You will also want to
reserve now if there is a
specific property that you
want and no substitute will
do. However, if your dates
are flexible and the time
you want to visit is not a
high season, feel free to
make a bid. You may also
want to bid if you are
booking at the last minute.
Many of the property owners
for whom we manage are
willing to make concessions
during non-peak time periods
or for last-minute bookings.
If I reserve now, what is
the rate I will pay?
If you elect to reserve
now, you will pay the rate
that we have estimated the
market will bear for this
time period. In other words,
the rate will be one that we
feel is reasonable for the
demand that will exist for
that particular property at
that time.
How do I know how much to
bid?
It’s hard to say, since
the answer depends on market
demand, the likelihood of
getting the property rented
for the advertised price,
and the individual owner’s
willingness to be flexible
on price.
What happens when I make
a bid?
When you make a bid,
your bid is forwarded to the
managing agent of the
property. If your bid is the
best offer that the agent
has received for the time
period you are requesting,
the agent will consider the
market conditions, the
owner’s flexibility, and
other considerations
specific to the property.
The agent will either accept
your bid, forward your bid
to the owner for the owner’s
consideration, or make a
counter-offer that the owner
will accept. Hopefully, you
and the agent will come to
an agreement on an
arrangement that will work
for both you and the
property owner. If that is
not possible, the agent may
be able to suggest a
substitute property for
which your bid will be
accepted.
