How do you calculate your listing price?

Lizzie
Former Community Manager
Former Community Manager
London, United Kingdom

How do you calculate your listing price?

Pricing.jpg 

Hello everyone,

 

When you first set up your listing, one of the first things you need to think about is how much you price your home per night. From hearing from several hosts here in the CC, I understand that many of you take into account a number of different factors.

 

Plus, I bet even if you have been hosting for a while, this is something you keep a close eye on.

 

How do you calculate you prices? Perhaps you consider overheads or consider other listings in your area. What tips would you give a new host?

 

Thanks,

Lizzie


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55 Replies 55
Helen427
Level 10
Auckland, New Zealand

I also have taken into account with longer stays that Guests generally want to and do use the stove to cook, may want to do ironing, plug in electronic devices for longer periods of time, use of fridge / freezer for storage of perishables, they tend to need clothes etc washed, in winter power / electricity use increases it doesn't decrease, food costs, etc.

 

 

 

 

I also factored into account my experience in the Tourism industry & years of experience in hospitality which I am aware is a key factor in ensuring guests stays & experiences whilst staying with me are enhanced.

 

Airbnb should not be encouraging Hosts to reduce weekly rates at anytime of the year as we have a number of factors to incorporate in our lives.

An-Maré0
Level 6
Cape Town, South Africa

I just ignore any price suggestions and remind myself what income I need to be a happy host.

Emilia42
Level 10
Orono, ME

As many hosts said I looked at other listing in my area, comparable or not. But I also thought to myself how much would *I* want to spend for a night in my place. Personally, I think I would be a perfect guest and hopefully my price would attract other perfect guests like myself. 😉

Ger15
Level 1
Tramore, Ireland

Help! Please. Airbnb keeps throwing up random low offers for our room, which is instant book. Our price is €45 per night. Guests have been charged random prices from €27-€45. I’ve checked over & over & our price is listed as €45. What Am I kissing? 

Ger. Ireland 

Mark26
Level 10
Melbourne Beach, FL


@Ger15 wrote:What Am I kissing? 

 


 The AirBnB Pricing Blarney Stone.

I've had the same thing happen....my minimum is $35/night and I just had a gal instantly book for one month at $27????  How does that happen?

Ger15
Level 1
Tramore, Ireland

Ermmm I meant doing! What Am I doing? Not KISSING!!!!

Jennifer976
Level 8
Calgary, Canada

I'm booked solid for both my rooms until mid October so it makes me wonder if i've not been charging enough??

@Jennifer976 first of all, congratulations on the full booking calendar and all the great reviews! You are clearly doing a great job.

 

Although many would automatically say a full calendar indicates your price is too low, I think there can be more to it than that. You haven't had the chance to go through a whole calendar year yet, so you don't yet know how seasonal bookings might be in your area (although I certainly hope you get all the bookings you want all year round).

 

Just for fun, I put your listing into the free Wheelhouse demo (Note: I use Wheelhouse myself), and it priced your Blue Room listing from CA$34 to CA$42 in November and December.

 

You are really the boss of your listing, so no one will complain if you experiment with some different prices.

(You can even look at the free demo of Wheelhouse, copy the pricing they suggest, and not even sign up while still getting to use their suggested pricing for free.)

 

Cherlouise0
Level 2
Wick, United Kingdom

Hi all (new here), this is a tricky one. Prior to joining Airbnb:

 

:  I too started with my price undercutting the competition, and was busy - for a while.

: in my second year, my prices crept up - still busy

: my third year, just a little bit higher  - bookings less frequent 

: by my fourth year, had to reduce my prices - and my bookings dried up

: since I joined this site I use the ‘smart price’ tab, I’m getting bookings - even though my prices are now higher than prior joining this site

: so now I’m even more confused on how to price my rooms 

 

 

That was in bad taste