What is a "pricing strategy"? For listing your property on platforms like Airbnb, Stayz & TripAdvisor

Ultimately, the price you charge for your listing is completely up to you.

A “pricing strategy” for property listings on AirbnbStayzTripAdvisor and similar sharing economy platforms, often refers to how you set the price of your listing depending on a number of factors. These may include time (for instance whether it’s a weekday, weekend, holiday period, or during a particular season or event); property type (for instance whether it’s a studio apartment or a house, and the nature of the properties styling and amenities); location (for instance whether it is near landmarks, public services or other facilities guests may want to use), and the current level of demand for short-term rentals in your area.

Some platforms have features and advice that can help you with your pricing strategy. For example, Airbnb offers some guidance to its hosts on how to choose the price for a listing, which includes how additional fees, like cleaning, can be incorporated into a listing’s nightly price. Furthermore, Airbnb provide support on how to set custom or seasonal pricing, how to set custom prices for weekends or holidays and how to turn Smart pricing on or off.

To inform your decision about how to price your property listing you should refer to the specific platform’s website.

 

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Find out how ShareCover can give you peace of mind when using sharing economy platforms like Airbnb, Stayz and TripAdvisor