Good Morning Everyone!
So I have some guests from Nevada who sat at breakfast and couldn’t stop exclaiming about the birds and squirrels in my yard. Now the mom of the group is giving my son a little piano lesson.
So there is the whole ‘experience’ benefit to hosting, right?
But there’s also a very real cost, as we all know. We’ve been in business since last June but didn’t look to closely at the profit, we were pouring all the money into the business and knew that, on paper, we were losing money so wouldn’t have to worry about adding to our tax liability.
Now I’ve calculated an after-tax profit. I used the tax number to estimate my seca and income taxes, then factored back in the expenses that are constant to the house, such as insurance, mortgage interest, wifi, etc. So this is the cash I have left over after paying for the additional expenses created by airbnb and paying my taxes.
OK, now, I’m sure I’ve lost many of you, but I’m hoping there are some still paying attention that can help me.
What I want to know is, how much did I make per night, or, per person? I can’t find any decent reports on the airbnb website that gives me number of guests, or number of nights, etc.
Does anyone know where these are? I know Beyond Pricing gives more reports, but I’m not using them so don’t know what they provide.
Does anyone else analyze to this detail? We all know ‘pricing tips’ are really ‘pricing traps’.
I’m quitting a part-time job to focus on this. We need to charge enough. We could just open the rooms to students and have much less work - but they don’t go away and give us breaks; they can cause problems as well.
Any thoughts? Anyone use Beyond Pricing or Everbooked get better tools? @ianmchenry What do you think?