Hey guys! I’ve been hosting for a while now, and I’m getting a better and better idea of what it takes to provide an enjoyable experience. But the one issue I consistently struggle with is pricing. It’s impossible to know whether I’m pricing my property efficiently, or how prices should be increased/ decreased on certain days or around certain events.
And this is something that comes up again and again when I talk with other hosts - there seems to be very little consensus on the best way to manage pricing. Manually pricing is a game of guessing, Airbnb's automated system massively underprices (in my experience), and I know of a few dynamic pricing services but haven't had enough exposure to know whether they're efficient.
What are your experiences with pricing? Have you found anything particularly effective? What things should I be considering when pricing my property, or more importantly what will make the process easier?
I wrote a brief blog post on the topic here, but I'd love to hear your guys thoughts.