How to think about setting your nightly rate
Feeling unsure about how to pinpoint the best nightly rate? We’ve got some tips to help you think about how to set the right price.
If you see a suggested nightly rate, it’s based on your listing’s location and amenities, as well as nearby prices and demand. You can write your own number or tap the up and down buttons to adjust your price.
Just remember: You’re in charge of your price, and you can change it at any time.
1. Stand out
Guests can be hesitant to book listings with no reviews. You can help your listing stand out by starting with a price a little lower than your ideal rate to attract your first guests, and you can always increase your nightly price as the bookings and reviews come in.
2. Consider your location and amenities
What your neighborhood has to offer, as well as what you offer in your space, can influence how guests view its value. Just be sure to call out these details in your listing.
3. Think like a guest
Keep in mind that the price you set here isn't the final one guests will pay. Consider taxes in your area, plus any fees you might want to add later for things like cleaning and extra guests.
After you publish your listing, you’ll have the option to refine your pricing even further—including setting different rates for weekends and holidays.
It may take some time and a bit of trial and error to get your pricing just right. Be flexible, and stay focused on guest satisfaction. After all, more positive reviews can help improve your hosting business.
Explore more topics
- Get started hosting
- Your space
- Your listing
- Grow your business
- Explore more
- Professional hosting