Now that it’s officially summer, it’s also officially vacation time. And if you’re an Airbnb host, you’ve probably been working hard to make sure that your property is perfect for your guests. Along with making the property perfect, you’re also probably working on making your pricing perfect. Pricing your Airbnb in accordance with demand and supply is an important aspect of running a successful Airbnb business. Pricing your rental correctly will allow you to turn a profit while your guests still consider your place a good value. However doing this properly does take some time. Factors like demand, time of year, other rentals in the area and even the weather will affect your pricing decisions. We assume that you’re busy and that you have better things to do than playing around with your pricing all day, so what can do you do make this process a little smoother?
Airbnb Smart Pricing
Thankfully, Airbnb has a great smart pricing tool that can help you modify your prices to account for various pricing factors. This is a great tool that will analyze your area, its popularity, and other local Airbnb rentals to provide a price that reflects the current conditions. It’s a wonderful way to make sure you’re always pricing competitively.
On the flip side, Airbnb smart pricing isn’t always perfect. If your listing is unique, or you’re in a city that has fewer listings, Airbnb’s smart pricing tool doesn’t always have the appropriate data to predict the correct price. It also has a hard time helping with pricing for dates more than 90 days out. So what’s the best way to use Airbnb smart pricing to your advantage without losing money?
Hosty’s Auto Pricing tool
Luckily, Hosty has a solution. Hosty helps to take Airbnb smart pricing to a new level. Our tool integrates Airbnb’s smart pricing framework and adds an extra layer of pricing rules to make sure your pricing is always perfect. We provide you with the opportunity to incorporate your own pricing rules that will automatically trigger given specific parameters. This way, you can use your own research to set up specific price changes or make a plan for your rentals for over 90 days away. It’s a great way to use Airbnb’s smart pricing tool while adding in a little extra customization.
Want to see our smart pricing tool in action? Sign up to use Hosty’s professional Airbnb management software. Basic membership is free! Click here to know more about Hosty’s AutoPricing and other automation tools!