You have just made a real estate investment with the aim of taking advantage of seasonal rentals. But for the moment, you are still in doubt because you don't really know how to determine the price of your rental. This is a legitimate question and the truth is that the price for a night's stay depends on a number of factors.
Some properties in a particular geographic area are also subject to higher demand depending on the season. This is the case when you buy an apartment in Cannes, the prices will literally soar during the festival period.
Why is it necessary to adjust the price of an overnight stay?
You have just registered on the Airbnb platform because you are interested in seasonal rentals. This is an excellent opportunity to generate additional income, but only if you do it the right way.
Know that at any time, you have control over the price of your ad. By adjusting the price as closely as possible, you will get a better fill rate.
This is an opportunity to seize when you are in low season, because during this period there will be much less demand. But with an attractive rate, you have more chances to multiply the reservations. For a better profitability, it is important to have a maximum occupancy rate and in this way you will build up a minimum income.
But adjusting prices is also a necessity to develop your income on short-term rentals. If you are just starting out, it will be necessary to make several adjustments by playing with the Airbnb high season parameters.
What price to put on Airbnb for a night's stay?
You are probably wondering how to rent your property on Airbnb at the right price.
First of all, it is necessary to carry out a market study in order to take note of similar and competing listings. In a way, these are marketing tools for a rental site like Airbnb that you will use. It's a great way to find out what's on offer and what's on demand, but be careful to compare similar properties in terms of size and in the same geographical area. Also, don't forget that on Airbnb.fr, a basic equipment is mandatory before you start renting.
Don't forget to keep in mind that there are additional fees, including cleaning fees. Moreover, the costs will be smoothed out according to the number of nights the visitor stays. So keep in mind that the price you set from the start will not be the same as the one displayed for Airbnb travelers. With a price that is too high, your ad risks losing its attractiveness.
Also, don't forget to adjust your rental rate based on events and market seasonality. The pricing system of the Airbnb platform is relatively well done, as you can set the pricing according to the seasons. You know that this is a particularly important parameter and to do this you need to go to the calendar. To take the previous example, i.e. the Cannes Film Festival, the prices can be multiplied by three compared to the low season. If you don't adjust your price, the loss of revenue will be considerable.
The last tip is based on differentiating the days of the week. For example, charge less for a night in the middle of the week and raise the price for the weekend, because you know that demand will be higher. This is possible by using the platform calendar again.
How do I use the Airbnb.fr platform settings to set a price?
From the Airbnb.fr platform, you make a specific calibration according to the days of the week and according to the season. It is highly recommended to use this setting in order to optimize your income.
First of all, you define a personalized price according to a precise range on the dates. Nothing very complicated by simply connecting to the Airbnb website or using the application. In the "my listings" section, you select the corresponding property. You just have to go to the top of the page and more precisely to the "calendar" tab. Go to the "household expenses" section by clicking on the "edit" button. From there, all you have to do is indicate the amount of the cleaning fees you want.
To set a specific price for a weekend, you must also log into your account by going to "manage ads". Of course, you will select again the property in question. But this time, you will go to the "rates" section so that you can access the "additional fees and currency" tab. In the "weekend rates" option, you will enter the price per night.
How to set up a discount to increase the attractiveness of your ad ?
You have understood the principle of operation to adjust the price of a night, but you wish to boost the attractiveness of your ad by applying a discount. However, this discount is only applicable for a reservation over a week or a month. This will encourage potential tenants to go through your ad.
In such a case, go to the "my ads" section to select your property. Go to the section "manage the ad" and at the top of the page click on "rate". Click on "modify" next to "price according to the duration of the stay". This way, you can set a personalized price for a reservation of one month or one week. To validate your changes, don't forget to click on the "apply" button.
How do you know if the price is right on Airbnb?
Vacation rentals are still particularly attractive, but you're looking for a solution for managing your properties. Then why not get in touch with UpperKey Concierge. Indeed, it's a peace of mind solution to manage the various administrative and fiscal parameters.
Not only will the concierge determine the most accurate price for your Airbnb property, but it will also take into account the regulations in force in the various towns.
For you, this is a particularly interesting solution, as you no longer have to waste time determining the right price. The professionals at UpperKey are used to dealing with this type of situation and will take care of the entire publication of your ad and the management of the tenants. At the end of each month or quarter, you will receive your income without any intervention on your part.
It is important to know that seasonal property management requires a real know-how and precise knowledge. Certain details can literally make the difference in attracting a tenant. With this in mind, you'll enjoy greater profitability by delegating the management of your property to UpperKey Concierge.