5 Additional Tricks to Enhance Your Airbnb Pricing Strategy
In one of the previous articles, I’ve already looked at some smart ways to find the best pricing strategy for your listing. Evidently, there are more ways to refine your pricing strategy. I just didn’t want to overload you with a huge list. Now, when you have digested the information, I’m happy to share some extra tips that you can use to develop a more comprehensive pricing strategy.
1. Lower your price for the several following weeks if your property remains unbooked. You will not earn much, but it will be better than nothing. In addition to this, you can get more positive reviews which will make your property more attractive.
2. Make a discount for longer bookings. Don’t be afraid of losing money, because, in the long run, you will actually earn more. Before the stage when you become a superhost and people will be ready to book your apartment for a higher price, you need to make everything to keep your property booked. You can set up discounts for one-week, two-week and four-week stays to encourage people to stay longer. The advantage of this is less stress and uncertainty. I recommend putting a discount in a percentage value rather than the actual figure because the prices will differ throughout the year.
3. Make your listing look great. You may ask ‘what does it have to do with pricing strategies?’ The logic is simple – the better your listing looks the more money you can make. All you have is title, description and photos and you need sure that all of it shines. Make pro photos, highlight one most crucial aspect of your apartment in the title and every other positive aspect of your rental in the description.
4. Think about charging a cleaning fee and deposit. In order not to pay for cleaning yourself, it makes sense to include this fee in the price of your apartment. If you are worried that your guests may damage something you can also request them to pay a deposit. The latter may discourage guests from booking so better think twice about it.
5. Set your base Airbnb year-round price at the lowest level. This is the price which guests will see when they’re looking at a property. The trick is when they click on your rental, they may get a different price depending on the time of the year. But hopefully, by the time they see another price, they will be ready to book your place anyway.
If you don’t have time to manage your pricing strategy, we will be happy to do it for you. Just request a call back from UnicoHost, and we will carry research and update the pricing for all your rentals to generate maximum profit.