Short Term Rental Riches

255. Are your Airbnb prices too high? One Easy, Telling Insight

Oct 1, 2024
Struggling to keep your Airbnb fully booked? Discover essential pricing strategies to boost your occupancy rates. Learn how to effectively use dynamic pricing tools to maximize revenue. Find out if your minimum price is too high and how to adjust it. Get tips on creating a wide pricing range and tailoring rates for weekends, holidays, and low seasons. This insightful discussion is perfect for both new and seasoned hosts looking to optimize their short-term rental business.
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ADVICE

Check Your Minimum Price Frequency

  • Use dynamic pricing tools like Wheelhouse or Price Labs to optimize your Airbnb pricing.
  • Check how often your minimum price is hit and if you're getting bookings at that price.
ADVICE

Check Minimum Prices on Airbnb

  • If you're not using a dynamic pricing tool, check Airbnb's calendar to see minimum price adjustments.
  • Consider the context, like last-minute bookings or slow seasons, when evaluating minimum price hits.
ADVICE

Create a Wide Price Range

  • Ensure a substantial difference between your base price and minimum price for dynamic pricing to work.
  • Avoid a small price range, as it limits the tool's ability to optimize effectively.
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