How to find the best pricing ...

[Tomas498]

It is always a gamble - to I get my flat rented out at all and do I reach the best price. But what is "best"?  In my opinion both - guests and hosts have to be happy. I share my private space, I have it cleaned by a professional cleaner before and after any stay. I do the bedding my self, prepare fresh towels, candels, some basic food, coffee and wine. I prepare it just like a professional host.

Specially in 2023 I got a lot of comments and ratings like - extremly central, still quite, very cose accomandation, extreay, caring and so on - but a bit expensive. I always think - well you get the extra ordinary treat and therefore you need be prepared to pay a price above the average. Specially because the prices for energy have gone up and are still rising.. 

So if airbnb algorithm suggest 100€/night I always request 130€ -  ho do you (community members) think about this strategy?

[Helen3]

Personally I base my pricing on what others are charging in my area. @Tomas498  Is your pricing in line with what other hosts are charging for similar places in your location?

[Tomas498]

Hi, it´s always 30% above 😉

[Helen3]

So you're charging nearly a third more than hosts with similar listings @Tomas498 ?

In your original post you said you were charging nearly a third more than Airbnb pricing which is not the same thing.

[Tomas498]

Ah ok, it always says "Suggestion according to similar flats in your area"

[Mike-And-Jane0 · Accepted solution]

@Tomas498 It depends on your philosophy. If you want lower than normal occupancy price high. If you want higher than normal occupancy price lower. With only one property it is hard to find the sweet spot that hotels are able to target.

[Tomas498]

Yeah but I think I am narrowing it.

[Pat271]

@Tomas498 

I think there are reasons that may justify being priced higher than the competition, for instance:

1) If you property in an expensive area, it’s common to get a 4 on value, with a 5 overall. This is to be expected.

2) There is usually a significant difference in quality between the most/least desirable property in a given area. Reviews and rankings tend to uncover these differences, thereby affecting bookings, and properties end up being priced higher/lower accordingly.

3) As you mentioned, prices have been rising unabated in most parts of the world. The average person is still feeling stung from that, and it’ll take a bit of time for their sensibilities to catch up with reality. 

Guests come in different flavors, and every once in a while a guest comes along that is a bit of a curmudgeon when it comes to money, causing them to declare everything “too expensive”, thus affecting the Value perception of that guest, especially during these inflationary times. Inflation is easing as of late, so it might be advised to wait till things settle down a bit before reevaluating your pricing strategy.