What is a reasonable discount for extended stays? I am thinking two weeks maximum. Thank you!
Don’t go below your bottom line to make a profit, 2 weeks is just about right.
I am charging 94.00 per night. I don’t want to go much below that. What discount percentage do you think would be fair for a two week stay? Thanks.
Depending where you are located; this time of year can be slow for me, I like 20%, it’s a generous discount for a booking more than 7 days, but I don’t give it unless they ask for it. I love to have breaks from worrying about guests, settle them in & get on with life…
I share my home so don’t like longer term bookings. I set a 10% discount for weekly stays and don’t have someone stay for more than two weeks.
I think it’s not about what discount is fair, but what works for you taking into account your market and what discount your can offer while still making the profit that will make it worthwhile and cover your costs - mortgage, utilities, taxes, your time, cleaning costs etc.
Some hosts also have it in their house rules that for longer term bookings they charge a weekly cleaning fee, so they can make sure their properties are being maintained and looked after.
I do not give a discount for extended stays. The guest is still taking up the bed, and linen, supplies, and space in general, causing you more work/hassle, not less.
I don’t discount for longer stays either. I think my place is a very good value at 2 nights and 2 weeks.
It depends on how much a longer stay saves you financially. Just pass on part of that saving to the guest.
I prefer shorter stays but every host and every situation is different. For stays of over eight days (my max is 21) I change the bedding and towels, plus do a cursory clean in the middle of the stay. (For my own benefit as much as the guests’). So laundry costs, cleaning costs and my time equals the same for a ten day stay, for example, as two five day stays. Therefore, it’s not saving me very much so no discount.
Also, if we’re not a good fit for whatever reason, I don’t want guests hanging around for more than a few days - another good reason for me not to encourage them.
Plus, if you’re still at the stage of wanting reviews, remember that five x 2 night stays gives you five opportunities to get a great review whereas a ten day stay only gives the potential of one review.
I don’t go over one week but I give a 12-18% discount depending on which listing it is.
Thank you all for your input. My space is a small octagon and people book for 3 nights max. I have had a few long term inquiries and have turned them down. It just didn’t make financial sense since some were looking for a 60% discount. I have only been doing this for six months and still need to figure out when my peak times will be. I think I will stick to my base fee with no long term discounts. Thanks again!
Just do not discount at all, and limit your stays to a number you are comfortable with. I am at 10 days max.
i had someone stay three months it worked out great little work and super quiet
For me it’s not the length of the stay it’s the style of the guest and good luck finding that out in advance. I had a dentist here most of the fall of 2018. He was in and out, not continuous. He’d be here 3-10 days, gone 1-4, then back. He was absolutely perfect here for those stays and I would book any term he wanted based on prior experience and offer a discount because he saved me a considerable amount of work and I don’t need the reviews. Normally I offer a tiny discount because I don’t want to attract that kind of guest at this time.
I only rent during summer and haven’t yet had any ABB booking for more than my standard one week minimum period but for my other prior customers or direct bookings, I offer a $20-$25 discount for second week since i don’t have to do another of my typical one hour or so turnover check (hired cleaning crew does most all the work).
I setup my listing with minimum stay of 2 days and maximum stay of 14 days, and 1 day preparation time. I discount 10% for stays of 7 nights or more.
My hope was to make it even out in terms of profit by discounting the longer stays. My average stay is between 4 and 5 days. I exported my reservation info into a spreadsheet this weekend and calculated the average $/night including preparation time for stays of 2-6 days and stays from 7-14 days. The 7-14 day stays with 10% discount actually make me slightly less money when I factor in the cleaning fee, but slightly more money if I exclude the cleaning fee. Seems like both the cleaning fee and the longer-stay discount are working together to keep the price consistent.
I planned to adjust my prices upward after 3 months of hosting which is coming up in 1 week, but I think I’ll delay it 1 more week since it looks like I will make superhost on April 1. I originally just used Airbnb’s guidance to set my prices, but I’m going to do some detailed modeling now that I have real data.