Tips for pricing your Airbnb property.

Being an Airbnb property manager can be very rewarding if you know the how to fill your property and make great money at the same time. In this post, we will talk about maximising your Airbnb income by using smart pricing.

LOW PRICING

Achieving a 100% occupancy rate for several months in advance may look like a good, but really you could be missing out on money. And, sometimes, if the prices are higher, it’s more rewarding to not be fully booked.

To really optimise your rentals you’ll need to pay attention to trends, the period from April to July is generally considered the high season, while September to October is considered the low. In order to achieve optimal occupancy all year round, you have to adjust your price in line with both demand, and local pricing trends.

OVERPRICING

Hosting guests mainly for high season or special events held in London.

Obviously, in this case, you are overpricing and leaving travellers with no choice but to book your house while the demand is huge. At times like this, it makes sense to bump up the price, as your property is at its most desirable, and accommodation is usually harder to find.

But … will guests give you a positive review, and come back on future visits? So, how to avoid these mistakes and start pricing smartly?

KNOW THE COMPETITION

If you have no idea how to approach it, start with Airbnb search tool. Look for properties similar to yours according to predefined parameters – area of London, number of bedrooms, capacity, accessibility of public transport, etc. Search for several months in advance and try to see the patterns and reasons behind changes in prices:

READ DATA

Intelligence ReportS will give you an idea of the average monthly prices for properties in your city.

START LOW

As a newbie, you can’t compare yourself to those with numerous reviews. Instead, price your home lower than your competition to get your first guests in, and start to dynamically raise the the price once you have at least 5 reviews and your star rating appears on your profile.

BIG EVENTS

London Fashion Week, Wimbledon and Notting Hill Carnival, to name a few. Keep a note of what’s happening in the city and in your area particularly. Good resources for this are Timeout, Eventbrite, and local websites. Also, check for conferences, music festivals, and the times when universities commence.

For more about airbnb management, airbnb property management and airbnb management London Please contact us my website : https://www.superhostapartments.co.uk/

Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.