Adjusting rates for longer term rentals

[Charles1042]

Hello,

I wanted to know if there was a rule of thumb on how much to discount if someone is staying for a week, month, etc....?

Should I reduce the nightly rate by 20% for instance if it is rented for a week?

Thanks, I'm just looking for some guidance.

Charles

[Lorna170]

@Charles1042   Many hosts will discount enough to make the seventh day “free”, essentially seven nights for the price of six.  Realize that a weekly discount will be applied to the second and third week of rentals as well. 

[Fiona256]

I want people to book for a week, minimum. I don't offer a discount. People book quite happily without any discount, particularly if you also have your own website and take direct bookings. We don't want to encourage expectation of and demands for discounts.

Also, people who stay for a week are likely to cause more mess and wear and tear than shorter-term guests. And people who stay for a week use seven times as much utilities and supplies.

I hosted long before Airbnb came into being, and I'm finding now that some guests are more demanding , difficult and entitled, which I attribute to Airbnb's setting of expectations and indulging this kind of guest.

[Huma0]

@Charles1042 

I have a 10% weekly discount and 15% monthly. I think that is enough as the nightly price is already good value.

I don't think that this sets expectations for further discounts. Actually, many guests don't even notice that they are getting a discount, even though it's broken down on the booking costs. 

As I primarily host long term guests, I find it useful nonetheless, because guests staying for long periods often ask for discounts. I just tell them there is already a long term discount applied and that's usually the end of the conversation.

One thing to note though is that, for a long time, there was a glitch on the Airbnb system. I think it is fixed now, but something to keep an eye on. When you or the guest make an adjustment to booking, e.g. change the number of nights or number of guests, sometimes the discount disappears when the system recalculates the total and the guest gets overcharged.