My typical reduction is about 45% but I just decreased it to 35%. Had a gal reach out for a 2 month stay. She said she was looking at other listings as well. I scoped out my competition and there are now 10 in my community that allow long term guests and they are all priced higher than me with accommodations that are not as nice. Last night she messages me that two other listings came back with significant price reductions… one as low as $575 a month. I know people will take what they can get but come on… less than $20 per night??? Irks me that people are willing to go that low.
It is a price for a an appartment, a room?
It’s can also be the time of the year, we have 10% for a week, and 15% for a month reduction and if it’s a very low month I can offer more.
It depends on the listing and market.
Let’s say I average 10-15 booking a month at 400-700 a month. Someone comes along and is willing to pay a guaranteed $575 and I don’t have to clean the room 15 times? It’s a deal I might take. So these other hosts are probably making more at $575 a month than they usually do.
My message back to her would be something like “Thanks for considering my place for your stay here in Littleville. I’m glad you found a place that meets your needs.”
Don’t let her intimidate you into lowering your price. Guests who bargain hunt tend to be disrespectful and not only that, they will STILL think they are paying too much, even when you’ve lowered the price.
I would decline that guest in a New York second. Don’t respect the price? Won’t respect the place or the host.
That’s ridiculous. I don’t go below 10% for a month. I wouldn’t cover my expenses. I’d rather have an empty room than a cheapskate.
I would cover my expenses at that rate so I would probably consider it … I doubt she expects you to say yes…she expects you to go back with a counter offer.
my room rents for $60 per night and I have two rooms. I average $1600 per month with both rooms rented. For long term stays I discount my rooms down to $28-$32 per room. At the rate she is paying elsewhere… the $575… I’d only have to rent my room 10 times to make that and I"m not putting up with someone using my utilities and laundry for 30 days. I am a full time renter and while January and February are very slow last year I made over $575 so I’ll take my chances.
We only give monthly discounts (small ones) to repeat guests who we know will be careful with the place. We know them, they know us so it’s worth the small discount. But never to strangers.