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Originally Posted by FlyingScot
Also thinking out loud on a complicated topic. I agree 64% in a year is gouging for a returning slip renter. Just outrageous. But are you sure you would rent to a new renter at below market rates?
I also think there's a difference between renting a luxury good compared to an apartment housing somebody on a relatively fixed income. If I owned an apartment building, I would not increase a current tenant by more than the CPI or my costs. But if you're a lake local and your only asset is your dock space, what's your obligation to hold prices down for a guy with a $50-100K toy?
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There are so many variables. A smart business person will consider them all and select a rate reflective of the market less the risks including those associated with being perceived as someone who's gouging. But I bet a vast majority of people that are renting slips, bikes, AirBnbs or whatever don't consider all those variables and simply go for the highest dollar value the market will bear. Sadly, that's the way of the world today. Customer care is a dying art. It's all about me, not about you. But, as Jeffk points out, when the shoe is on the other foot...
Regarding the marinas, I doubt many of them are too worried about business not being there in the future. I mean, maybe they need to respond to market declines at some point by lowering prices but do any of them really think they aren't going to be able to fill up all those slips in the future at the highest possible price point? Yes, they'll anger some people but I'm betting in most case that's second fiddle to the almighty dollar.