After 12 years of not raising rates, are they too low?

[Marcy7]

I have an art-filled one bedroom, street level with patio in Washington DC within walking distance to White House.  Here's the listing. https://www.airbnb.com/rooms/3861766 How much should I charge?  I get wonderful tenants now and keep the place spotless.  Thanks!

[Helen3]

Have you done any market research on what similar properties in your area are charging that's the best way to find out what the going rate is @Marcy7 

[Kia272]

@Marcy7 Your place is gorgeous! And quite a bargain at your current price. You could certainly raise the price if you wanted to. 

I'm not all about money. I'm more into having guests that don't cause me problems. I'm the lowest priced place in my area, but I'm fine with my price. I simply figured out what I thought was a fair price, where I could cover my costs, make some profit, and not take advantage of people. 

So it's truly up to you as to how you want to proceed. For your location in DC and how lovely your place is, it's a steal of a deal. Good luck, whatever you decide. Kia

[Rebecca]

Hi @Marcy7 👋

It's been a while since you posted. You've got some lovely advice here from @Kia272 & @Helen3 😍 

Have you made any changes since posting?