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I tend to do it very rarely. Our two listings are both in the same area so the dates for higher prices are the same for both,
Many guests book up to a year in advance, especially for special events or if they are coming for large conferences, so I have to have prices set well in advance. Itās easy for events /holidays that are the same every year but for some, the date changes so I have to go and do those as soon as I know that accurate times, but otherwise itās a very occasional task.
Unfortunately Iāve never used a service that has the knowledge I have about various events, conferences, exhibitions and so on. Different listings are suited to different events. For example, an art fair or show attracts exhibitors (and those attending but exhibitors tend to book further in advance - better for host scheduling).
Some listings, ones with great views or in picturesque locations, are more sought after by artists and photographers than other listings.
In the case of a wine and food festival, listings with gourmet kitchens tend to book up earlier than others. Foodies like to reproduce what theyāve enjoyed at the event.
In cases such as these examples, properties that are very close together donāt necessarily offer the same required amenities. For instance, an apartment with a view over a parking lot can be in the same building as one with a spectacular oceanfront view. Similarly, a place with a gourmet kitchen can be directly below one with lesser facilities.
I have yet to find a service that can distinguish between listings in instances like those. Services that know about large events never (as far as Iāve found) know about smaller local events or well-attended conferences/exhibitions.
Well, you might be able to get moreā¦ If you wish to add a small fee for additional guests after a certain number, then there is a setting. You choose when the system should add the fee to the rate to stay at your house. You donāt have to chase anyone down for payment. If it is 1 to 4 guests, then the price stays the same. If there will be 5 guests up to 7, then the additional guest fee is automatically added to the rate for the house. If there are fewer places in your area that are able to sleep as many as 7, then you might be able to earn $10 to 30 more per night and still be less than the comparable places in your area that are able to accommodate that many. Of course the extra guest fee can be more or less than $10/per person, I was just using that as an example of one way to increase your income, but hey, if you donāt need itā¦ great!
I do not fully agree.
You do not know if it is a cost or an investment until you sell.
Especially when you pay a lot of interest, it will be more likely to be a cost then an investment.
Also in accounting the interest is calculated as a cost. Paying interest does not increase the value of your property.
You are correct.
But this kind of accounting tricks that companies use to polish their books, are not really usefull for an individual or small company.
We do it this way, but the problem is the cashflow.
On paper by amortizing the investments, we make a profit, in real life tough we are facing a negative cashflow.
Cashflow problems are the main reason a lot of starting businesses go bankrupt in the first few years.
Re mortgage as a cost. Even if you are paying it down you should treat the interest component as a cost. In the first few years this will be most of it until you have paid off a fair whack.
And that right there might be where things went off the railsā¦
When you only have a passive interest in your Airbnb business (or almost any other business), the results tend to be reflected in the profits. And great results are rarely instant. The business builds over time. Maybe finding a renter might be a better course in this case. You donāt have to pay someone to clean, donāt have to pay for pricing tools or Airbnb fees, donāt have to pay for the utilities, and can rely on a steady income. If you rent it furnished, you can probably get more for it than renting it unfurnished.
There is an option on your Airbnb listing that allows you to auto set the extra fee to apply to guests over a chosen amount. You do not need to collect seperately. We do this for both our listings and it does not affect the amount of bookings we get.
I do think there is a noticeable difference between housing 2 people versus housing 7 people and it is reflected in the amount you spend on toilet paper, paper towels, water bill, etc. General wear and tear on the house as well such as screen doors, drywall damage, floor wear.
I donāt mind and I also think it helps give me a little boost since it makes it a very āactiveā listing daily.
I have, on occasion, not done so because I was so tired or busy I forgot and wouldnāt you know I still got last minute bookings where I kick myself for having lost the extra $5-40 in revenue.
I wish Air would allow me to use their last minute discount function with a negative number so it would do it automatically but that is not their intent to make it easy for me to raise my prices.
The thread seems to be like a classic case of asking for advice but not really taking on board the advice. The host could easily charge double as much if the additional charge per guest function (+2 or 3) was turned on. Oh well.
For some reason ānot charging for additional peopleā is not an answer you want to hear. So many hosts do it and yet you are strangely resistant. I wonder why.
Again, you donāt seem to be willing to take on a very simple piece of advice that would easily double your revenue. In addition to that, the way you answered the question seems as if you dint really know how Airbnb works. I wish you good luck with your venture but Iād suggest you rethink your strategy a bit more.
Your unwillingness to even take on the simplest piece of advice is quite mind boggling. Why do you come on this forum if you reject all the feedback from others?
Anyways, I can see that KCC has already given up though I will give it one more try.
Is it correct that you already have bookings into November? If that is the case then you are waaaaaassy to cheap.
Is it correct that whether you are one or seven guests you charge the same price? How does that even make sense if you have seven times more wear and tear, hot water, AC, washing etc. Charge every guest above two guests extra - even if itās only $30 a night though Iād consider more.
Your goal cannot and should not be 100% occupancy at cheap prices. If that is your āstrategy ā youād never find out what the true value of your listing is.
I just went ahead and looked at a two night stay from 19 to the 21st of July for SEVEN guests and there are ONLY three others super hosts in all of Pittsburgh who are cheaper than you - and none of the places are nearly as well kept. From where Iām standing you are not even attempting to run a business so no wonder you are coming in at a loss.
Thatās great. All sounds good. The charts show that your occupancy is steady if slightly high whilst revenue is growing. So just keep on increasing the prices until occupancy hits 75%. IMHO, if you are booked out for a thanksgiving weekend SIX MONTHS IN ADVANCE then you are just too cheap. Special weekends like that I would charge double or triple. Whatās the worst that can happen? If you donāt get a booking 7 days before just drop the price again. I suspect that the people who booked your thanksgiving weekend got an unbelievably good deal. Do me a favour and search for those exact dates in November and see whether any super host charges less than you and us still available. If you were in the top 20 cheapest in all of Pittsburgh ALREADY you are just not priced right for special weekends. Apropos weekends, these too seem too cheap anyways. Raise Fri/Sat faster than Sun-Thu and see where it gets you. Good luck.
Just read your message again. A $1 rise is too little. Thatās like keeping up with inflation. Iād consider something in the region of 5% per month. Perhaps even more aggressive. $1 per booking just seems totally arbitrary. But yes, keep on raising the prices until you get to 75%.
