As the vacation rental industry becomes more successful, the possibility of making a living from Airbnb and other vacation rental sites continues to increase. However, as the industry becomes more lucrative, the competition increases significantly as well. As a professional Airbnb host, you surely want to fill as many nights at your property as possible.This means that to achieve success in this industry you need to become more competitive in all areas of business.
At Hosty, we’ve been working hard to help you become the best vacation rental manager you can be. As a matter of fact, we have tons of helpful resources to help you learn and grow. Click here to read more posts about how to make a solid profit with Airbnb or how to find the best Airbnb profit calculator. Another way to be a great Airbnb host? Use Hosty’s Airbnb pricing tool to help you price your rentals perfectly. Figuring out the right pricing strategy for your Airbnb business will help you maximize your revenue without over or under-pricing your property.
Airbnb pricing tool for your business
Start with Airbnb’s smart pricing:
Airbnb is very helpful when it comes to pricing. They use the general information from your rental (rental type, number of bedrooms, amenities, etc.) and past information from your location to determine an ideal starting rental price. This price is a great place to begin, especially if you’re new to vacation rentals.
Pro Tip: Price can vary significantly across different cities and states. Do you live in one of the best cities for Airbnb?
Use your expertise to tweak from there:
If you’ve been in the Airbnb game for a while, you have a good handle on your area and on what makes demand and prices change throughout the year. Using Airbnb’s smart pricing as a guide, change prices as you see fit for special events, busy weeks, bad weather or holidays to maximize your profit.
Did you know?: The short-term vacation rental industry is projected to be a $190 billion industry in the next five years. Get in the game now with Hosty! We’re the professional vacation rental software that helps you succeed. Organize your Airbnb listing, message guests, and price all of your rentals correctly using our AutoPrice feature all from one place. Ready to get started? Click here for a free trial!
Use Hosty’s AutoPricing feature to save you time
Now that you have a good strategy – lock it in place. Use Hosty’s innovative AutoPricing feature to automate certain aspects of pricing, so your pricing stays accurate while you work on other things. Just make sure you check your pricing rules every so often to be certain they’re still working for you.
Starting with Airbnb’s Smart pricing, making strategic decisions from there, and finally automating your pricing with Hosty’s AutoPrice feature is the best strategy to determine your Airbnb pricing. Do you use any other Airbnb pricing tool? Let us know!