Value Perception Decrease?

[Pamela853]

Hello All- hope everyone is off to a good season.

Had a question for fellow hosts. We are in our fourth year of hosting; knowing travel is expensive, we've always endeavored to bring as much value as possible to our guest's experience in our Airbnb (beach house on the Sonoma Coast in California). Up until this season, we've always received 5 stars in the 'value' category for our listing. This season however, guests don't seem as thrilled with the value. We actually dropped prices a bit,  have not reduced any amenities or made any changes to the property-keeping up the same standard of service as in years prior, but now getting mostly 4 stars on value. We are priced comparably to similar properties in the area, and often below the recommended Airbnb price point. Bit of a head scratcher; wondering if it is us, or if people are just more price sensitive because of inflation. Anyone else experiencing a decline in customer 'value' satisfaction?

Thanks so much for the time of your response!

[Jennifer2672]

Yes! Same here... I'm in my third year of hosting, our prices are much lower than what they were last year and I also am priced lower than most similar homes in my area. In the past 6 months, I've had more fours for value and location than I've ever had before. It's crazy to me when I have people that give me fives overall and glowing reviews, and then I get a four for value or location. 

[Pamela853]

Thanks so much for your response Jennifer. Helps to know I'm not alone! And that is my case as well, glowing 5 star reviews, but 4 on value. Mike-and-Jane chimed in saying a 4 on value represents a good balance between being too cheap and too expensive, and that is a nice way of viewing the feedback. But, I miss feeling as if my guests felt they were truly getting their money's worth. Appreciate your posting!!

[Pamela853]

(and just saw your CHARMING listing. Furnishings are to DIE for! How anyone could not feel your place is a bargain is beyond me...just wonderful)

[Mike-And-Jane0 · Accepted solution]

@Pamela853 I always feel a 4 for value suggests the price is a good balance between being too cheap and being too expensive. I am sure, given the cost of living increases, more people will be giving less than 5 stars just on principle.

[Pamela853]

Love that perspective, thank you!!!!!!!!

[Helen3]

My prices have increased year on year and I got five stars for value from evey guest so I'm not sure this relates to price. @Pamela853 

Have you asked guests leaving you four stars why this might be the case? 

[Pamela853]

Hello Helen, and thank you for your response. I've hesitated contacting guests post review because I worried that might feel intrusive. But, it is a good suggestion, and I should take your advice and give it a try. Thank you...

[Ana2038]

@Pamela853 , you have a lovely home. Not sure why anyone would give it a 4 star for value. Don’t allow the 4 stars on value get to you.  Keep up the good work!!!

[Pamela853]

Ah Ana, you are SO kind to take the time to look at our home and weigh in. One thing I had pondered is that we dropped the number of guests allowed this year from five to four (wear and tear), but didn't adjust the price to reflect that. I just ticked prices down $25 for the rest of the season-doesn't make a huge difference on our bottom line, and felt like we should have made some concession for reducing the number of allowed guests. It is worth a bit less income for the reduced impact!! many thanks for your thoughts!!!

[Pat271]

@Pamela853  I haven’t noticed any decrease in our value rating, but I get 4’s for value occasionally, sometimes with the comment “Maui is expensive!”.  Not much I can do about Maui being expensive…it’s expensive for me, too!

[Kevin3030]

Hello, I just started renting my condo out. My first guests gave me 5 stars for everything. Now  this is where I’m confused. My second guests gave me 5 stars for everything except for value. They can see what the value my condo has before they rent it. Everything that is available is in the listing. They gave me a 3 so it brought my rating down. They did  write in the review about not having internet but again that is in the listing about not having internet. They shouldn’t be able give me a 3 when they’re complaining about something I have listed. I could see if I was trying to hide it. I tried to contact them but they’re not getting back to me. This is very upsetting. 

[Basha0]

Hi Pamela, are you aware that there is a Sonoma ABB Facebook group? Maybe you are already part of it. If not check us out!

[Hilltop0]

I have a vacation rental in Santa Fe, NM.  I have 5's for all categories except Value and Location, which are almost always 4.8.  

The "Value" rating I get because my property is pricey.  The location: really?   The listing in several spots says it's 16 minutes from the center of town. Also, it has vast mountain views, which simply don't exist closer to town.  I accept it.  

An interesting note:  when we first started our vacation rental, our prices were about 1/3 of what they are now because we were brand new, had zero reviews, and needed guests.  Guess what? I had several lower "Value" ratings.  Everything else was "5 stars".  I guess people tend to think they've spent too much, and that's okay. If guests say they got a great value--maybe you aren't charging enough.   I am not about to lower my price .