Increasing pricing on existing booking

[Sharyn26]

Hi - I'd appreciate advice as I'm in a situation due to the current (world?) financial climate - my mortgage and utilities have increased by more than 10% - I can cope with still honouring shorter bookings but I have a 12 month booking commencing in September that is going to cost me money.   My prices were already quite low as I was only setting them to break-even.

At this point I can only see two options: delist and use a different platform; delist and go back to the rental market.  

Has anyone successfully increased prices for an existing booking?  if so - how did you do it?

Any other advice? 

Thanks in advance.

[Mark1357]

Sorry that your having this issue. It seems to me that making a reservation is a contract for price and date as advertised. As a host you  can cancel. You should look up the penalties as policy, then update your price for future guests. Whatever you decide to do I'd do it ASAP so the guest has the opportunity to make other plans. 

[Gwen386]

Just an FYI because I think I read this somewhere else. When/if you cancel, check and make sure that Airbnb doesn't block those dates from new reservations. 

[Sharyn26]

Thanks - that's what Im hoping to avoid - in the end i just approached the guest about changing the price and im waiting to hear back

[Mike-And-Jane0]

@Sharyn26 If you cancel a booking there is usually a penalty and Airbnb block the dates for future reservations. 

[Sharyn26]

yeah - I'm trying to avoid cancellation but no-one seems to have any actual experience/advice with the situation so that's probably where I'll end up