Chris in NJ asks:
I have been asked to do a handful of vacation rental properties. I'm not sure if these should be priced differently than a house for sale. I'm assuming the cost should be higher since the photos will be used longer. But do you charge double? Triple? I'm not really sure. Any advice?
My guess is that the majority of real estate photographers shooting rental property photos charge the same for shooting rentals as homes for sale and completely blow off the licensing differences. Here are some things to think about:
- Research your local market. See what the local expectations are. If you live in an area with a lot of rentals it certainly makes sense to treat rentals very differently. That is, charge at least twice as much and license differently. Rental owners may well push back if other photographers are not doing the same thing.
- You should have the client sign a different license agreement for rental photos. Rental clients will think that they OWN the photos and believe they can use them forever and sell them to a new rental property owner. Are you going to transfer ownership to them or allow them to use the photos for a specific amount of time? A discussion of the alternatives is a good place to start the pricing discussion.
- If they are licensed to use them for a year or so then charge them your "home for sale rate" since some listings can last over a year.
- If you are going to transfer ownership to them then my guess is that you should charge them 3 or 4 times the "for sale rate". But I'm skeptical that much of this kind of pricing is going on.
- If you are shooting a bunch of properties for the same client a volume discount may be in order.
What are others experiences with shooting rentals? How many are routinely charging more for rental photos and licensing them differently?