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Placeline/People
City Vaughan
Country Canada

How to set the right price for your Airbnb

For those looking to make a little extra money to make ends meet, Airbnb has become an optimal choice for some homeowners. However, renting out your place to visitors for short stays is a process that can be fraught with emotions and conflicting advice. Some Airbnb hosts have suggested searching other properties in the area to get a sense of prices and use them as a benchmark on what to charge. One host experimented with prices, she would raise the cost by $5 or $10 to give herself insight into what people will pay and when. She also pointed out that hosts need to keep in mind that Airbnb takes a percentage of every booking. Unusual properties like treehouses, villas, castles, geodesic domes and even planes or boats are known to fetch a premium. Hosts with more space can also charge more. Timing is also another major factor hosts need to keep in mind when deciding on prices. Many people book stays the day they want to check in and people who are scrambling at the last minute to find a place are often willing to pay more. It's also a good idea to capitalize on busy seasons — summer holidays, spring break or large festivals and events that will draw visitors from out of town. Being as descriptive as possible in your listing will also help to attract people to make the booking. 
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Information
Source name: 
The Canadian Press
Unique identifier: CP14676239 
Legacy Identifier: b3c24e7fe6fb44830b14c065a2ec0e3bd 
Type: Video 
Duration: 1m51s 
Dimensions: 1920px × 1080px     77.19 MB 
Create Date: 11/12/2019 9:21:00 PM 
Display aspect ratio: 16:9 
Tags
AirBNB
business
Canada
money
prices
renting
rooms
wibbitz
Your Money