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The price for 1 night is 150 (all the numbers are only as an example). The discounts for week and month are 20% and 40% accordingly.
The price of 1 week it’s 840 (150 * 7 *0.8). But for 6 days (when the one-night price works) it’s 900 (150 * 6). So 6 days cost more then 7 days which doesn’t make sense.
The same story with monthly. The monthly rate (after the discount) is 2700, but 25 days are already more expensive, 3750 (150 * 25). The cost of 26, 27, 28 and 29 days is even more. So, if somebody needs 25 days, she/he will book the whole month to pay less, and the apartment will be empty for a few days.
What do you do in that situation? My idea is to charge for 6 day the same amount as for week, and for 25-29 days the same amount as for month. Are there other solutions?
Are you sharing the space, or renting out a separate property?
I’ve almost eliminated the weekly/monthly discount. Longer bookings save in some ways but not in others. But I’m sharing the space, so that makes a big difference.
I charge a fair nightly rate, so don’t feel a need to give a big discount for longer stays. I prefer shorter stays.
[quote=“dcmooney, post:2, topic:3451”]
Are you sharing the space, or renting out a separate property?
[/quote]Renting out a separate property.
[quote=“dcmooney, post:2, topic:3451”]
I charge a fair nightly rate, so don’t feel a need to give a big discount for longer stays. I prefer shorter stays.
[/quote]We will probably have guests staying for a few weeks or even months - clients of my wife, a real estate agent - she works with new immigrants who will stay until they find a long-term rent or buy their own property.
I’ve been a host six years on Air and I have never given a discount for longer stays. To me, shorter stays and more turnover are far preferable and more profitable than long term. Long terms aren’t great, partly because they impact your place more, you could end up with someone terrible and you don’t make money on cleaning. They tend to stick around the house longer and use more utilities. Shorter stays can (not always) leave your place a lot cleaner too.
I also don’t monkey about with different rates for weekends. But that’s just me. I’m in Hawaii. I do have to collect accommodations tax in cash on every booking so that is enough of a bear to dump on guests, as well as security and cleaning.
