Hello fellow Hosts and Managers!
Has anyone noticed Airbnb pricing becoming more competitive (harder to get higher pricing) over the last few years? This may be due to increased competition given the rise in popularity of hosting. However, since the implementation of the new regulations and licensing in the City of Vancouver, has anyone noticed any difference in bookings and pricing? There was apparently 2,400 listings that dropped off after the licensing program.
What are your thoughts on Smart Pricing?
Does anyone have a particular resource or strategy for pricing their units?
Love to hear everyones thoughts on this topic :)
There is a company in Vancouver called helloshed.com that is offering an amazing service to AirBnb-ers.
They come pack everything you need to out, plus they photograph and inventory everything and store it at their facility. Anytime you need an item delivered to your place, you tap on the photo in your app and they'll deliver it right to your doorstep sameday for FREE! You don't even need to be in the country to manage your items in your house!
They're cheaper than other moving and storage companies too! Check them out: helloshed.com
To set my pricing manually, I look at what the smart pricing is suggesting and use it as a guideline. I set my pricing 3 months in advance and set it low for the people who plan ahead and book early. Then, as my bookings start to fill up, I will adjust the prices upwards in the weeks ahead, filling in shorter stays and last minute bookings with higher prices. I also click on those little light bulb and graph icons from time to time as they often will tell what the booking trends are in greater detail.
I have four different listings in one house and so far this seems to be working, but I am just coming up on my first anniversary for doing ABNB and I'm sure I have a lot to learn. BTW, I am in New West.
Have you tried Roomvu photography for your property? They are reasonably priced, fast turnaround 20 photos for $99!
Check out their website for more inforation https://www.roomvustore.com/photography