Airbnb’s pricing depends on several factors. Consider utility costs and other property maintenance costs. Additionally, prospective guests may compare prices with other listings before booking. Competitive rates may increase bookings.
In addition to covering costs and competing with other listings, understanding market trends can help landlords set rental prices. Booking data from previous years, AirDNA, or Beyond Pricing tools can provide this information. These platforms reveal occupancy, ADR, and revenue per available room (RevPAR).
With this knowledge, hosts can set specific nightly rates during peak times and adjust them during different seasons or local events. By keeping up with industry news and local activity, hosts can offer competitive prices, which will attract more customers and boost revenue.