Notas del episodio
Optimizing Your Base Rate for Maximizing Regular Earnings
Episode 1 of 7 of our mini-series 'Airbnb Pricing Hacks You Need to Grow Your Bookings'
Get your free downloads here:
Get the comps analysis and nightly rates worksheet by subscribing to our newsletter 'The Five'
Show notes:
Under conditions of ‘regular’ demand how much to charge to maximize your profitability
Neglecting one factor will hurt big time
For example, comparing apples to oranges will not make any sense and you won’t get any bookings and each night you stay empty is burning cash.
Get off to a great start with a strong foundation
Analyze comparable listings first, then go from there
Think of your market as a 5-10 mile geographic radius and then go on from there
Here is what makes a good comp set
Similar bedroom and bathroom count
Don’t compare budget to luxury
Apples to apples - condos and homes are not comps…a 3br single family to another 3br single family with similar furnishings and similar location is a comp.
Gather 6-12 to make a good comp set
Find the average and median rates across both weekday’s and weekends
After you figure out comps lets move to strategy - the fun part
Match and charge a reduced rate to drive highest occupancy
Match market and deliver better
Charge a premium and deliver highest quality