16 Nov How to set up a competitive Airbnb price
The price is probably the most relevant part of your Airbnb. Listing your property with a wrong price could be a risk: with a high price, you’ll obtain a short number of bookings, with a low price you’ll have less incomes. We found some elements that can definitely help you, indicating the perfect price for your property.
What you have to do
1. First of all, the most obvious thing is to analyze the price of other Airbnb in your area. Once you created an average of these prices, set up your rate in line with it. One relevant element that influences your price is the position of your flat. Take a map and check prices for your district.
2. Another reliable element to check is seasonality. You have to know that there’s a big difference in term of price between seasons. During the summer and during periods close to holidays like Christmas, you can increase your rates. Always check what other hosts near you do, in order to avoid some mistake with your rates.
3. For guests, amenities you offer are really important and influence the price. If your flat offers many useful amenities, you can increase avoiding the risk to obtain a short number of bookings. A small investment like a new TV can make the difference.
Fortunately, if your property is listed on Airbnb, you have access to some useful tools. For example, when you log-in, you have personalized daily pricing information in your calendar.
You still doubt that these suggestions really work? Airbnb discovered that hosts that follow these tips have 4 times more chance to book their property.
Earn more with a lower price
A lower price for your Airbnb guarantee more bookings but, logically, your incomes per booking are lower.
Don’t worry! In the long term, extra bookings you obtained thanks your lower price, will guarantee an extra income.
Get a little help
Set up the perfect price is not easy and here at City Relay, we know how to make it really easy.
With our software, we can update intelligently your price, in order to have always the most competitive flat in your area guaranteeing a high occupancy rate. The program updates daily your nightly rates according to its intelligent algorithm.
In addition, every host that wants more stream of revenues listing its property on more booking platforms can use this software managing every booking from there.
We can help you to manage the price of your property but, when you rent out a flat, there are many other aspects that are a hassle for hosts.
City Relay offers also professional Airbnb management services for every host: check-in, check-out, cleaning, bed sheets and towels, guest support 24/7, maintenance and other needs.