How to set your nightly price
As a Host, you’re always in charge of your nightly price and you can change it at any time.
If you don’t have a starting price in mind, check the average prices of similar listings nearby in just a few steps:
Select a date or date range on your calendar.
Tap or click on your nightly price. A button directly below the price shows a map icon and the words “Compare similar listings”.
Tap or click that button to pull up a map of average prices for listings similar to yours. On the map, you can opt to show the average prices of booked or unbooked listings in your area.
Keep in mind that the nightly price you set isn’t the total price a guest pays. To check their total price and get a full price breakdown:
Select any number of nights on your calendar.
Below your nightly price, you’ll find a “Guest total” button displaying the total price a guest would pay for that reservation.
Tap or click that button to pull up a price breakdown, which lists your nightly price, fees, any discounts or promotions, taxes and your earnings.
If you’re a new Host with few reviews, you may want to start with a price that’s lower than your target price. The new listing promotion lets you offer 20% off to your first three guests to encourage bookings. Guests may be willing to pay more for a place to stay after it gets some great reviews.
Once you’ve published your listing, you’ll find all pricing tools in your calendar. From there, you can adjust your pricing for specific dates, consider discounts and promotions and more.
1. Stand out
Guests can be hesitant to book listings with no reviews. You can help your listing stand out by starting with a price a little lower than your ideal rate to attract your first guests, and you can always increase your nightly price as the bookings and reviews come in.
2. Consider your location and amenities
What your neighbourhood has to offer, as well as what you offer in your space, can influence how guests consider its value. Just be sure to call out these details in your listing.
3. Think like a guest
Keep in mind that the price you set here isn't the final one guests will pay. Consider taxes in your area, plus any fees you might want to add later for things like cleaning and extra guests.
After you publish your listing, you’ll have the option to refine your pricing even further – including setting different rates for weekends and holidays.
It may take some time and a bit of trial and error to get your pricing just right. Be flexible, and stay focused on guest satisfaction. After all, more positive reviews can help improve your hosting business.