Pricing strategy: How to set rates that book consistently

Setting the right price is one of the most impactful decisions you'll make as a host. Too high and your calendar stays empty; too low and you leave money on the table. Here's a practical framework:

Start with local market research

Search for similar listings in your neighbourhood and note their rates. Pay attention to occupancy — a cheaper listing that's always fully booked is more informative than an expensive one that's half empty.

Factor in your costs

Add up your monthly costs: mortgage/rent, utilities, cleaning, supplies, and platform subscription. Your nightly rate should cover these at a realistic occupancy level (aim for 60-70%).

Use dynamic pricing

Consider raising rates by 20-40% during public holidays, local events, and peak tourist seasons.

Offer weekly/monthly discounts

Longer stays reduce turnover and cleaning costs. A 15-20% discount for weekly stays and 25-30% for monthly is standard and keeps your calendar full.

Review every 3 months

Markets change. Revisit your pricing quarterly and adjust based on your occupancy rate — if you're above 80%, you can likely charge more.