Pricing

[Olivia736]

Hey folks! My husband & I are newish to Airbnb. We've always set our prices based on the Airbnb price suggestions that they give. Is this the best way to do it? Has anyone ever experienced any problems with it? I've been updating my prices based on that every day, as there is always some kind of fluctuation. However, I haven't been given a single suggestion in 2 whole days. Anyone know why? We're not going to go automated yet. Thank you! Happy Airbnbing!

[Emiel1]

@Olivia736 

Airbnb price suggestions are not reliable and in almost all cases too low.

Better look at similar listings in your region and create your own pricing strategy.

[Helen3]

Absolutely not @Olivia736  you should set your pricing based on

1. Having created a profit and loss budget to identify all the costs associated with running your Airbnb. Then estimating how many nights a year you are likely to let your place out for. Divide total costs by estimated number of nights. This shows you how much you need to make to break even.

2. Look at what your local competitors are charging.

So if your net costs are £100 a night and your local competitors are charging £150 a night that gives you an idea of what you can charge and your  likely profit levels.

[Sudsrung0]

@Olivia736 

You will be out of business using airbnb price suggestions I dont know where they get them from,

Take some time and go through other listings in your area would give you a better idea,