Episode notes
In this episode of Vacation Rental & Airbnb Mastery, John and Tim discuss pricing your vacation rental during inflation and recession. Please rate, review, and subscribe. If you have a question that you would like us to answer on the podcast - let us know! Leave us a review with your question or shoot us an email and we will review and answer on the next episode.
Highlights and Tips:
Rates are going down across the board
Some listings going as low as $30 / night... competition and saturation are pressuring nightly rates
Running promos / discounts may be a great idea this fall
Checking pricing every 2-3 days to keep a pulse on the market will help adjust timely
Avoid desperation, sometimes lowering pricing is not worth the wear and tear that will come along with party guests
Review what your breakeven costs are to pay your expenses so you know how to set your pricing strategy
Reach out to past guests and offer a discount if they return
You may want to accept less than breakeven sometimes to cover your expenses, but not too low that you have party guests out of desperation
More tips in the episode!
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