The Two Pricing Strategies You Need to Know for Your Airbnb

If you're going to be an Airbnb host, you need to understand the basics of pricing. It's important to get the price right on your listing so that you can make money off of this sharing economy. Be careful when setting your price, and take the time to understand the market and what guests are willing to pay.

There are two main ways to set prices for your Airbnb listing–cost and profit and comparables. Cost is how much it costs you to provide the listing, including things like rent, utilities, and cleaning fees. Profit is how much money you want to make from the listing.

Comparables are other listings in your area that are similar to yours in terms of size, amenities, and location. You can use comparables to see what prices are being charged for similar listings and use that information to set your own prices.