Summer vacation may be coming to an end, but savvy travelers know that the best time of year to book and take a trip is starting. Shoulder season — the months just before and after peak summer travel time — is when you’ll find warm temperatures, smaller crowds and deals on flights, home rentals and more. Here’s a primer on how to take advantage:

What is shoulder season?

Many travelers may have heard of the term shoulder season, but don’t know exactly what it means.

“Shoulder season is a travel industry insider term that refers to the two times of year that ‘shoulder’ the summer months, especially May, September and October,” Kelly Soderlund, communications manager of the travel booking site Hipmunk, said. “The weather is still warm, and prices really start to decline.”

Travelers can expect lower prices as well as fewer crowds. And while they risk an increased chance of inclement weather, temperature drops are often minimal.

“At many U.S. beach destinations, the average temperature drops about 1 percent between August and September, while price drops are much more dramatic,” Melanie Fish, public relations director of VRBO, said.

Ms. Soderlund recommends approaching the Caribbean with caution, or at least keeping a careful eye on hurricane season.