Pricing Tips For EzyStayz Property Hosts
Deciding on how to price your property can be one of the most difficult parts of listing on a holiday rental platform. On the one hand, you want to make a good profit, but on the other, you don’t want to price your property so high that travellers don’t book.
So in this guide, we’ll share with you some of the things you should take into account when pricing your EzyStayz listing.
1. Evaluate Your Local Market
First and foremost, it’s important to determine the market value of your property by doing a bit of research to see what other hosts in your area are charging. Use the EzyStayz search tool to look for similar properties in your city or destination by limiting the search to the number of bedrooms and maximum number of guests that your property can accommodate.
It’s a good idea to search for a few months in advance and make the length of your stay between three days and a week to ensure you get the most property results.
Once you have a number of similar properties listed, select around five that have plenty of reviews and check the base rate for each. Properties with more reviews are probably more established and charging their full market price. Then browse the calendar of each property to see what they’re charging on weekends or if they’re offering any discounts for long-term stays.
A property with limited short-term availability is probably a good sign that they’ve got a high occupancy rate and their pricing is in-line with what travellers are willing to pay.
2. Pricing Tips
If you’re just starting out on EzyStayz, it’s a good idea to offer a discounted price compared to your competition, then slowly increase the rate to its estimated market value as you start to receive property reviews.
Keep an eye out for any festivals or special events that might be happening in your area or grab a calendar of what’s on from your local tourism bureau. People start looking for properties early during peak periods and you can expect to earn more than double your average nightly rate.
Check what other properties in your market are charging during big weekends and set your prices accordingly – there are usually last-minute bookers who are willing to pay top dollar to secure accommodation.
Remember that your advertised rate on EzyStayz search results is always your base rate, which helps to attract prospective guests. The actual rate will only be displayed once they enter their dates and most people are willing to increase their budget for a property they’ve already fallen in love with!