The biggest host mystery…how to create a profitable Airbnb pricing strategy that makes it worth putting time into.
As a host, you want to make sure you are fairly priced…and not leaving money on the table.
It’s your time…so make sure you’re GETTING PAID for it!
There are many, many resources out there to help you with a pricing plan…but we have all the answers for you in one place.
Let’s start with the Five Step approach.
Five Steps to Pricing like an Airbnb Pro
- Find your ideal Base Price
- Understand Weekend & Seasonal demand near you
- Use Major Events to increase rates 100%+
- Use Temporality to know when and how much to discount
- Update your prices as Frequently as possible
This is all great information…and it can help you become a more profitable Airbnb host.
BUT…it’s a lot of work and can take up a lot of your time…especially if you need to do this EVERY DAY to stay on top of the Airbnb search results.
You’re in luck…There is a software solution out there called Wheelhouse.
Wheelhouse provides a dynamic Airbnb pricing solution that automatically updates your prices DAILY.
All you need to do is securely connect your Airbnb account with them…let their algorithm work it’s magic and BOOM…you’re pricing will be professionally managed.
They can help you earn up to 40% more money with your rental…and still commit to getting your rental booked up.
Their team consists of data scientist, hospitality gurus and experienced Airbnb hosts…the best in the biz.
One major benefit to their service over other dynamic pricing tools is that you DO NOT need to give them full control…instead…you’re in control.
Say you enjoy the confidence of having control of you calendar…but there are events coming up and you don’t want to mis-price your listing…this is where PriceMethod comes in.
You can grant them access to only certain months…weeks…blocks of days…or even ONE SPECIFIC day to manage.
Is the Super Bowl coming to your area? Don’t know how to price it?
What if you do know you should increase your price…but by how much?
Well, how far are you from the epicenter of the event? Is there public transit nearby?
So many things to consider…goodness.
Let Wheelhouse suggest a price for you…and ease yourself of the stress of having to constantly figure out the right pricing. You can’t do it on your own.
They have TONS of historical data and lots of knowledge on how to price your SPECIFIC rental unit correctly.
To learn more about Wheelhouse, go here.
Learn more about Airbnb pricing from our popular articles:
Your Airbnb Pricing Strategy Sucks
Another option is to use a service such as Hostaways, Everbooked or Beyond Pricing, which automatically adjust prices based on supply and demand.