Understand what core price means
You need to decide what daily rate you want to charge for your home, this is the usual price which guests will pay, rather than for peak periods such as New Year.
Do your research
Go online and check out what other homes in your neighbourhood are charging. This will give you an idea of what guests will pay to stay in your area.
Discount what ‘you think’ by 15%
Many Hosts over-price their homes by 15%. Until your home as proven that it can achieve high volumes of guests, keep the costs down, once you know its popular you can increase the nightly rate.
How many bedrooms with ensuite bathrooms do you have?
Out of all the features your home may have, having bedrooms with ensuite bathrooms is the number one thing that guests will pay a premium for.
Put yourself in your guests shoes
Would you pay the price you have arrived at? Really? Ok, great, you’re nearly there then.
Make a decision and stick to it
Stick with your initial rate for the first 3 months; it takes time to see if you have made the right decision or not, and the worst thing you can do is to keep changing the price.