Location, capacity, furnishing, competition, seasonality – in the first part of this topic, we covered the main factors influencing the pricing of your property on Airbnb and Booking. Now, we’ll share specific pricing strategies and tools to help you improve your property’s performance and increase your revenue.
Key factors that can help you adjust your Airbnb pricing strategy
1. Promotion for New Hosts
If you’re a new host on Airbnb, we recommend using the automatic option to add a 20% discount for your first three bookings. This encourages quick bookings, which is crucial for Airbnb’s algorithm. Properties with more bookings and positive reviews rank higher in search results, increasing visibility and the chance to attract more guests.
📍 Tip: Even a few positive reviews at the start can lead to a significant increase in demand and nightly rates. There are various ways to encourage your guests to leave feedback, but the simplest and most personal one is to kindly ask them, explaining how valuable their feedback is for new hosts.
2. Including Cleaning Fees in Pricing
Cleaning fees are part of managing any rental property, but it’s essential to communicate these charges transparently. We recommend incorporating them into the total nightly rate to avoid unpleasant surprises and guest dissatisfaction.
💡 Why it matters: Transparency builds trust with guests and increases the likelihood of positive reviews. At the same time, clear terms make it easier to manage expenses.
In the podcast Host as Guest, our partner Michaela from Rentify.bg shares more valuable insights on how crucial cleaning is for a great guest experience.
3. Dynamic Pricing
At Rentify.bg, we rely on advanced software tools and in-depth analyses that provide us with up-to-date market information – demand, supply, price trends, and competition. The software we use gathers and analyzes data for all available properties on the market, considering occupancy rates, price fluctuations, and various influencing factors. This allows us to adjust prices in real time and optimize your profits while adapting to seasonality, holidays, and shifts in demand.
🔍 How we work:
Once we gather the necessary information about your property, we analyze the competition and pricing strategies in your area using specialized tools. Based on these insights, we can suggest a suitable starting price tailored to your property’s specifics and its market appeal and in the same time adapt this price to the ever-evolving market changes.
For example: Our software provides insights into the most in-demand dates until the end of the year and suggests optimal pricing for those periods. For instance, we can see that an apartment with a base price of €75 per night has the potential to reach up to €139 per night during certain holiday periods. This allows us to identify when price adjustments—up or down—are necessary.
What are the benefits of trusting us to manage your property:
- Flexibility: Dynamic pricing allows us to react to real-time market conditions and increase your property’s occupancy.
- Maximum Profit: We optimize pricing to achieve the highest possible returns without losing guests.
- Competitive Advantage: Through continuous market monitoring, we ensure attractive and competitive rates that draw in a diverse audience — from short-term guests to long-term tenants.
We have over 7 years of experience in the Airbnb & Booking rental management and our goal is to help you achieve stable and sustainable returns while ensuring your guests’ satisfaction.
Want maximum returns from your property?
Setting the right price for your property on Airbnb and Booking requires strategy, analysis, and flexibility. Location, amenities, competition, and seasonality play a crucial role in your success. At Rentify.bg, we use professional analysis tools to help you optimize your profits and ensure high occupancy for your property.
Do you want to earn more from your property? Contact us to help you with pricing and comprehensive management of your rental property.
🔗 Check out more useful tips on our blog:
- How to set the right price for your property on Aribnb and Booking (Part 1)
- 87% Occupancy on Airbnb: How a Sofia Apartment Became a Hit in 3 Months
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