This forum is dedicated to connecting hosts with other hosts. Sign up to get the latest updates and news just for AirBnb hosts! Note that we are not affiliated with Airbnb - we are just passionate hosts!
Last topic I started about pricing, @jaquo recommended I figure out all my expenses etc when setting my nightly rate.
I realised I haven’t been taking full advantage of a wonderful spreadsheet I got off Learn AirBnB. I love Excel, so I’ve managed to almost fully customise their spreadsheet, but the bones of it are very good just on their own…
Here are some screenshots demonstrating what a useful tool it has been for me…It’s main purpose I think was for someone setting up a new AirBnB to figure out if the returns are worth it, but it’s great for established hosts as well - it just won’t tell you your rate of return.
THIS! I’m not even sure you realize what argument you just made. The glut of hosts has forced many hosts into ridiculously low prices. Airbnb is making big money off what has essentially become minimum wage for hosts.
Yeah, I don’t think most people realize how little those who are self employed make after taking out all their costs. Don’t forget though that your income goes towards your rent/housing, so unless the “monthly lease” is specifically for your ABB and not where you live, then don’t forget you’re basically living for free. But yeah, I need to calculate mine.
Although having an attractive price would for sure have guests booking more often you also want to make sure that you are , both with text and images, presenting a product which in the eyes of potential guests is a steal, when they see the nightly rate.
This may very well be lowering the price at first, and blowing your guests expectations with outstading hospitality so your reviews sell your space for you! But it also means speaking their language visually, they want to make sure they get exactly if not more than what the paid for ( that ammount can be very high) just be sure to deliver on their expectations and more.
So even when taking the fees from airbnb and costs such as rent, your listing should be clearing you 1.5 times your rent in profits every month, if you live in a metropolitan area!
? Thanks