As of December 7, 2020, Airbnb hosts who use third-party property management software are required to use Simplified Pricing (unless your listings are in the US, Canada, Mexico, Argentina, Taiwan, Uruguay or the Bahamas). This means there will be no service fee visible to the guest, and the host will pay 15%. So, how can you adjust your pricing to accommodate this new policy?
Anurag Verma is the Cofounder at PriceLabs, a dynamic pricing tool and market data resource for short-term rental hosts. PriceLabs uses a data-driven approach to help STR operators manage pricing and stay restrictions, growing their revenue in the process. Anurag has eight years of experience in the travel industry, and he is an expert in the field of in revenue management.
On this episode of Get Paid for Your Pad, Anurag joins me to discuss how to adjust your rates to accommodate the new 15% Airbnb host fee. He explains how the length of stay and lead times have shifted in the COVID era, offering advice for STR hosts around how to optimize revenue in an uncertain time. Listen in for Anurag’s insight on leveraging market data to make pricing decisions and learn how YOU can benefit from using the PriceLabs revenue management platform!
How to adjust your rates to accommodate the 15% host fee
The two STR variables that have changed in the COVID era
Anurag’s advice on planning if you’re in a summer market
What STR hosts are doing to generate more bookings
Why STR guests have more flexibility right now
Anurag’s tips for optimizing your revenue in 2021
How PriceLabs’ Market Dashboard feature works
How to use market data for strategic pricing decisions
The benefits of leveraging the PriceLabs platform
PriceLabs [Code GPFYP]
Jasper’s Price Adjustment Calculator