Author Topic: AirBNBers...How do you price for a spike in demand?  (Read 1048 times)

ClutchBeta

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AirBNBers...How do you price for a spike in demand?
« on: September 16, 2017, 10:47:56 AM »
I'm thinking about crashing with some friends and renting out my house as an airbnb for Super Bowl LII this February.  The question is, how can I decide what to charge? Has anyone dealt with special one-time events that drove up prices? Can I see what rooms are going for, similar to looking at ebay "sold" listings? I'm fairly new to both homeownership and airbnb.

Cwadda

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Re: AirBNBers...How do you price for a spike in demand?
« Reply #1 on: September 18, 2017, 12:15:21 PM »
Try looking at other AirBnBs in your area. Similar to running comps for a home purchase or rental.

ClutchBeta

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Re: AirBNBers...How do you price for a spike in demand?
« Reply #2 on: September 18, 2017, 01:15:26 PM »
You can certainly tell what people are asking by searching on airbnb, but is there any way to tell if someone will buy for that price?  I guess I'll keep looking and see what gets booked vs what stays available. Thanks!

cchrissyy

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Re: AirBNBers...How do you price for a spike in demand?
« Reply #3 on: September 18, 2017, 01:28:06 PM »
this would work on VRBO, I don't know about ABNB

-search your town as if you have totally flexible dates
-find houses like yours
-go to each house's "rates" tab and see what they're doing. Normal rates, summer rates, event weekend rates, etc
-look at each house's calendar to see whether or not they are booked on the event weekend

that should do it! might as well make a list and record minimum stays and cleaning fees and such while you're at it. good luck!

Dicey

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Re: AirBNBers...How do you price for a spike in demand?
« Reply #4 on: September 19, 2017, 04:33:50 AM »
Check your insurance coverage before you do this, and best of luck to you.