I manually set up
prices in Airbnb and I am SO confused on what is going to be my basis for the prices. Would it be the Base Price in Beyond Pricing OR the Nightly Price in Airbnb?? Please give some tips. Newbie here
I manually set up
The base price would be the average price you are setting for your property. Beyond pricing works from there by adding and subtracting $$$ based on a number of factors (demand, day of the week, events in your area, holidays, availability, etc.).
Let’s say your base price is USD100 - Beyond pricing will suggest for some days 98, 96, 94, 100, 102, 107, even 140 (for example for NYE).
Then it ask you to specify a Minimum price, i.e. the price below which you don’t want your rate to go. For example, you can tell Beyond pricing to do not market your property for less than 90 USD per day. There is also a Max Price setting in the other tab.
Your base price is not an average. It’s your minimum price on Airbnb and the price your calendar will default to unless you use smart pricing. This is the same price that pricing tools start with.
And, if you use a dynamic pricing service like Beyond Pricing, it doesn’t matter what you have set on AirBnB, BP will over-ride it. It’s so funny, my prices are all red red red on my calendar on Air, and yet I’m sitting at like a 70% health score on BP because i’m still overbooked to their liking.
Your replies enlightened me A LOT… so how many percent should I put on top of the Base Price during WEEKENDS, and HOLIDAYS…?
It depends on your market. I usually mark up $10 (about 15-20% more than my regular rate) for weekends. And then holidays it depends on if people actually travel to where you are on the holidays. In places like NYC it could be 100-500% mark-up. For me with people traveling for family trips, maybe 20-30%.