Hi@Richard
I would first of all calculate costings of the minimum costs borne by you as a host, for a nights stay.
More nights have an economy of scale of reduced costs, such as fresh towels provided on the third night or at whichever point you decide to provide freshly laundered changeover of towels.
If I were hosting for longer periods ( I don’t) I would consider a change of fresh bedlinens every 7 nights, it’s up to you, how you wish to operate, but factor in your costs.
Your energy costs, I found my smart meter a good indicator for my heating costs including hot water costs, but then I’ve natural gas.
Electricity costs would be just lighting for me,washing machine and drier, hairdrier use, the fridge etc, but natural gas is my main energy source.
If you Provide breakfast, factor that cost in of your ingredients and so on.
Include cost of WiFi etc so this gives you the bare minimum before you make any profit.
Factor in the cost of your welcome toiletries basket contents etc.
Some factor in an extra 10% calculation for wear and tear, which is a good idea if your mattress, bed linens, towels, bath mats, bathrobes etc were new at start up.
If you have a cleaner factor in their daily costs too.
As for smart pricing I’ve switched it off......the rates are crazy, suited to some locations where operating costs are so low, in their local economies and not suited to the U.K., unless you want to couch surf!
Remember to keep all your receipts for HMRC as much if it is tax deductible after you reach the minimum threshold, particularly if you host all year round.
