Pricing approach for long term Stays

[Seth6]

My apartment is only available for month and longer stays (per the requirements for my type of property within my city). When setting nightly prices and discounts is it more effective to set a higher nightly price and then discount down to my minimum monthly or longer price? Or, should I set the nightly to add up directly to my minimum monthly? My first two bookings were with no discount, fyi. I've now raised the nightly and set a 14% monthly discount - trying ride the middle of nightly and discounts.

Comparable properties that have similar monthly costs (but that also do shorter stays) seem to have a higher nightly and then discount, but since mine is only long term I'm not sure what the best strategy is to be competitive.

Here's a for instance:

My nightly is $77 and with a monthly discount of 14% - Monthly cost= $1,986

A highly equivelent nearby place (with many great reviews and been renting for a long time) that rents shorter and long term is $99 a night with a monthly discount of 30% - Monthly cost= $2,079

My target is $2,000 a month, fyi.

Of course, part of me think that everyone loves a discount so I should up the nightly and really deeply discount down, but this then may appear like the place is a higher cost for website browsers who don't set actual dates and are just pursuing listings.

I appreciate any experienced insights.

[Jean9]

Interesting problem because I have a condo in a building that is trying to change the bylaws to minimum one month rentals.  Showing a nightly rate is going to cause issues with the condo board, I'm betting.  I too have a target price at about same level as you do.

I am currently experiencing a pricing problem because in another location I have an ad showing nightly price of $120 but an inquiry for 15 days resulted in a nightly pricing of $93 per night.  

Does anyone know how to prevent the price from being kicked down so dramatically?

[Mark213]

We have a similar problem. A holiday cottage which we rent, outside Airbnb, by the week (i.e. 7days)  or 3night weekend breaks of 75% of the weekly price.  However that doesn't fit the Airbnb pricing based on price per night. At the moment we have to set the minimum stay at 3 nights. this allows guests to book a weekend break but of course presents them with the wrong price .... 3/7ths of the weekly price rather than 3/4 of weekly price. Is there a way?

[Joseph-and-Ilsa0]

I see my problem is shared.   I want my listing to pop up as only available for monthly stays.   This new pricing tool is not at all friendly for that scenario.    I'd love to ways this has been solved by folks.

Thanks.