Don't Make These Airbnb Pricing Mistakes

For most short term rental hosts, especially hosts just starting out, the goal is usually cash flow. You bought an investment property to generate income so that you could supplement your 9-5 income or save for another property or whatever your reason. You did it to make money, right? But we often see these same hosts making some subtle but serious pricing mistakes and, in turn, leaving money on the table.
Here are the top 5 mistakes we’re seeing both new and experienced hosts making. This isn’t a "fluff" episode so grab something to take notes with and let’s make sure your pricing strategy is optimized for the highest possible return on your investment.
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airbnb hosting for beginners | airbnb pricing strategy | airbnb tips for beginners

Пікірлер: 57

  • @tracy3066
    @tracy3066 Жыл бұрын

    I use Price Labs and pretty much have set my minimums and let Price Labs do the rest. I have been using Price Labs for about 4 months now and I've never once been disappointed with the price it got us. (Many higher than I would have thought we could get!) I also set my calendar out for 12 months for 2 reasons. 1. For the football games.When the schedule comes out in April guests will book for games all season into December. We have one property that we've had for 5 years book almost ever single game within 2 days after the scedule game out in April. 2. Price Labs seems to get us higher prices for further away stays. I just got a New Years eve booking for one of our properties at a pretty high price. I'm happy with it. Why not take ever booking you can get!!

  • @joeplevnaik9872
    @joeplevnaik9872 Жыл бұрын

    Leave your calendars open 12 months ahead, just set your prices higher than normal. If you get a booking AMAZING, if not look at your lead time and adjust prices accordingly.

  • @justinadasilva1760
    @justinadasilva17604 ай бұрын

    I have just bought a cottage and decided to list it as airbnb to generate some income and pay off the mrtg for it. I just want to say love your videos and thanks for posting information online like this as it really helps new airbnb hosts be a little bit more informed! :)

  • @jfromtheisland9520
    @jfromtheisland9520 Жыл бұрын

    I’m so happy I found you guys ! Thanks

  • @ayobams7787
    @ayobams7787 Жыл бұрын

    Thanks so much guys! Great information here.

  • @ALPROCESSOR10
    @ALPROCESSOR10 Жыл бұрын

    This is super helpful, I also enjoy your style of teaching.. thanks a ton guys!

  • @dmitriysotnykov9928
    @dmitriysotnykov9928 Жыл бұрын

    Thanks a lot guys, the video is quite informative and well structured without that fluff that is typical for some Airbnb tutorials or advice videos. Valuable info and straight to the point.

  • @kyleeandsteven

    @kyleeandsteven

    Жыл бұрын

    Thank you! So glad you found it helpful.

  • @RichMartin
    @RichMartin Жыл бұрын

    Great advice guys. I am going to tweak my price and photos .ore often. Thanks.

  • @ayeshakhan-du1pb
    @ayeshakhan-du1pb Жыл бұрын

    Awesome information Loving your channel

  • @paulamccue8891
    @paulamccue889111 ай бұрын

    Hi! I found this video very informative as a new host. Thank you for sharing your tips and tricks to the rest of us.

  • @danique-instyle
    @danique-instyle Жыл бұрын

    Great well explained content!!

  • @curriecountryliving
    @curriecountryliving Жыл бұрын

    Great info!! Thank you

  • @user-oh6bp1sc5k
    @user-oh6bp1sc5k8 ай бұрын

    Excellent tips guys

  • @billjensen7832
    @billjensen78322 жыл бұрын

    I'm so grateful to your channel - I've learned sooo much and you both have a great delivery style which is enjoyable to learn from. I appreciate your transparency and vulnerability in your successes and your little hiccups. Thank you very very much for your videos and tutorials. Keep them coming. Cheers from Wisconsin.

  • @kyleeandsteven

    @kyleeandsteven

    2 жыл бұрын

    Thanks, Bill! So glad to hear you’re finding helpful info!

  • @bobuck9665
    @bobuck9665 Жыл бұрын

    Thanks much for your sharing your knowledge. Couple questions: 1. If you have your listing set up with "Dates unavailable by Default" how or where to you set up your calendar to be open for 90 days? 2. Are you only able to set uo manual pricing once you have published your listing, or is there a location on the "Editing" portion of the site? (Obviously a total newbie and not wanting to publish until all basis are covered). Pls advise. Thank you.

  • @danique-instyle
    @danique-instyle Жыл бұрын

    Awesome thanks!!

  • @hipaholic9444
    @hipaholic94442 жыл бұрын

    Amazing info per usual. Thank you. We take possession of our first rental property next week.

  • @kyleeandsteven

    @kyleeandsteven

    2 жыл бұрын

    So exciting!! 🎉

  • @sassysally82
    @sassysally82 Жыл бұрын

    Thank you for all the great content, I've been making my way through your videos one by one. I'd love to see a video where you go more in depth about your pricing strategy, how you like to use Price Labs or other software, what your once a week pricing update looks like & why, etc.

  • @kyleeandsteven

    @kyleeandsteven

    Жыл бұрын

    All great ideas, thank you for the suggestions!

  • @brianneligori9837
    @brianneligori98379 ай бұрын

    Thanks so much, really enjoying your content! Question - am I still able to do Airbnb promos if I have a Pricelabs account connected? I notice that many of the settings do not show up for this reason.

  • @dylaningram496
    @dylaningram4968 ай бұрын

    Subscribed! Great info, just purchased first property in cape cod. Do you guys use AirDna ?

  • @michaelpender898
    @michaelpender898 Жыл бұрын

    Thanks for the video. Do you know if the promotions on Airbnb overrides Pricelabs?

  • @stockrider2666
    @stockrider26662 жыл бұрын

    I like the manual calendar tip!

  • @kyleeandsteven

    @kyleeandsteven

    2 жыл бұрын

    It’s helped us out a bunch!

  • @lenagraham2093
    @lenagraham20935 ай бұрын

    Most people with limited vacation time, or who have specific destinations they will visit (like a National Park), are going to book 10-12 months in advance. Your property won’t come up in the search results for those people, and that’s a pretty significant number of people.

  • @fabianstoll
    @fabianstoll Жыл бұрын

    Did you program a bot to check hotel prices and update your prices automatically?

  • @davidacosta8060
    @davidacosta80602 жыл бұрын

    Thank you

  • @danique-instyle
    @danique-instyle Жыл бұрын

    For pricing would you recommend just using price labs without paying for it for the free version? Is that what you do so that you can maintain control? Did you ever feel overwhelmed mentally with the pricing? Also what time of day do you set to go on there to do “tweeking” of your pricing?

  • @clairelamoureux3463
    @clairelamoureux34632 жыл бұрын

    Another awesome video, especially that you guys show where exactly on Airbnb you can make the change, super helpful! I have a question related to pricing - do you try to attract monthly stays during low seasons by giving a deep discount? If so, can you apply a deep discount only on certain months(slow season) but not on the others(high season), and would you have to “protect” your calendar from a short stay that cut off your month long availability? Sorry I know it’s a bit loaded question, but would love to hear your thoughts. Thanks!

  • @tracy3066

    @tracy3066

    Жыл бұрын

    I try to attract longer stays year round. The prices just change depending on what time of the year it is. I love the longer 30 days+ stays! And I have found you don't have to give huge discounts. There is no way to protect your calendar from shorts stays on Airbnb. I just hope the guests wanting to stay longer term get to my calendar faster than the short term guests do.

  • @bugz1292
    @bugz1292 Жыл бұрын

    If dates are blocked by default and manually opened up say 90 days in advance do you manually open new dates on a daily basis? Weekly?

  • @lyabado
    @lyabado7 ай бұрын

    Hola query, on what total the calculation of the commission that corresponds to me as the company that manages the property should be made. Is it the total paid by the client to Airbnb?

  • @shannonbroughton5620
    @shannonbroughton56205 ай бұрын

    Hello. I just tried to add promos to mid week dates. I currently have a “Last minute” discount on my page that I currently have always running for all dates. My question is, can I list multiple discounts/promos for the same block of dates? Secondly, can I pick all the mid week days in a month and add a promo to those dates all at once or do I have to do them individually of one another? The platform isn’t letting me add promos to certain days and I’m working on my desktop. Any guidance you can give would be helpful. Or point me in the direction where these kinds of ‘utilizing the platform easier’ questions are addressed.

  • @bekindlove
    @bekindlove8 ай бұрын

    Quick question for you guys, I've been using Airbnb for 5 or 6 years now and have a pretty good grasp of things. I'm Going to be offering a new listing that has three bedrooms. I'm trying to assess the ability to offer the property at a cheaper rate if people only want to use one or two bedrooms ( say a solo traveler who normally wouldn't book a 3 bedroom place). Is there a way to do that through making multiple listings or do you all have a different way you suggest to do that? Thanks in advance for any ideas or help!

  • @xavthomas

    @xavthomas

    8 ай бұрын

    Did you figure this out?

  • @nnenna7701
    @nnenna77012 жыл бұрын

    Thanks for your videos. What are the sheets and blankets you recommend in your airbnbs?

  • @kyleeandsteven

    @kyleeandsteven

    2 жыл бұрын

    Hey Nnenna! Check out our video called “Don’t Make These Airbnb Set Up Mistakes”. Lots of good info there but also in the video description there’s a link to download our sample inventory which includes links to all the products we use in our STRs.

  • @nnenna7701

    @nnenna7701

    2 жыл бұрын

    @@kyleeandsteven Thanks very much, will do!

  • @sybarisdesignlondon1112
    @sybarisdesignlondon111211 ай бұрын

    Hi Guys, Great videos. Really helpful. One question - I use channel manager to manage our small portfolio of short lets. I cannot see any Promotions on Airbnb. How do you manage 30+ flats without a channel manager. I assume you don't only list on Airbnb. Or do you only use Airbnb? Thank you.

  • @kyleeandsteven

    @kyleeandsteven

    11 ай бұрын

    We use one now (Uplisting) but we didn't until earlier this year

  • @entnous53
    @entnous53 Жыл бұрын

    Kylie and Stephen, One of your videos discussed having separate bank accounts for each STR and told us the online bank you use . I want to watch that video again and find out the name of the online bank. Can you remember which video that was? Thanks so much

  • @kyleeandsteven

    @kyleeandsteven

    Жыл бұрын

    We use Farmers State Bank (based in Iowa)

  • @VictoriaMafumo

    @VictoriaMafumo

    11 ай бұрын

    @@kyleeandsteven is this video still available? I'd love to know how you separate property finances and get an idea of how airbnb allows you to make such payouts. I would assume that it's not just one bank account per property? all in all it may be a lot of bank accounts for numerous properties? how does this work? :)

  • @brianpaton6687
    @brianpaton6687 Жыл бұрын

    If I have Orphan days more than 5 days out and I have a moderate cancellation policy that offers 10% discount for the non refundable price will offering a special promotion over ride the non refundable offer.

  • @danielbocelli
    @danielbocelli2 жыл бұрын

    I just started hosting a guest suite in my house and I’m definitely making these pricing mistakes. I don’t quite get the “mark all dates as unavailable” tip. Can you explain further on that one? Thanks!

  • @kyleeandsteven

    @kyleeandsteven

    2 жыл бұрын

    Hey Daniel! It’s an availability setting. Basically you have two main options. Option 1 is that every day Airbnb automatically opens a new day on your calendar that is 3,6,9,12 months in advance. Option 2 (which is what we use) is called “dates unavailable by default” and it just means that our calendar stays blocked until we set the price and open it. So we manually open dates vs them be automatically opened by Airbnb. Hope that helps clarify!

  • @danielbocelli

    @danielbocelli

    2 жыл бұрын

    @@kyleeandsteven thanks! That does help! So you block them by default, then research and set prices manually for about 3 months into the future, if I understood correctly. I had dates available way in advance and someone booked a very popular weekend at a regular price, so lesson learned!

  • @kyleeandsteven

    @kyleeandsteven

    2 жыл бұрын

    Yep! You got it!

  • @VictoriaMafumo

    @VictoriaMafumo

    11 ай бұрын

    @@kyleeandsteven Hi just wondering how this couples with pricelabs? Will it still sync with "dates unavailable by default”

  • @kimsmith8505
    @kimsmith8505 Жыл бұрын

    Can you see those promotions when using a cellphone? Or only desktop?

  • @kyleeandsteven

    @kyleeandsteven

    Жыл бұрын

    Just desktop that we’ve seen!

  • @mjstirling
    @mjstirling Жыл бұрын

    I changed my calendar to what you suggested and now it’s all blocked out?

  • @kyleeandsteven

    @kyleeandsteven

    Жыл бұрын

    Yes you’ll need to open the dates manually 😊