Getting to know how much your place is worth in the Airbnb marketplace in London may be a hard task for anyone. Even Airbnb thinks so, as this has been one of the most popular questions from potential hosts.
So, how to evaluate your Airbnb listing in London and pick the best price per night?
We are sharing some of the best tips on pricing your Airbnb listing below.
Finding Similar Properties On Airbnb – What To Look For When Comparing Your Space
The thing that every host should do when valuing an Airbnb listing to the marketplace is to log in and find some similar properties. The things you should be looking in the ones you would be benchmarking from are:
- Step 1 : Identical number of beds as in your apartment/room – Prices on Airbnb are based on beds and room space, which is a fact to consider when looking for a similar property.
- Step 2 : interior design – You cannot compare your listing with one that has a modern and new interior design. From tables and chairs to walls and TV units, finding the price your listing belongs in is definitely dependent on this factor.
- Step 3: Bathrooms and terraces – Make sure your apartment on Airbnb matches the number of terraces and size of bathroom(s) to the one you are comparing it with. Bathrooms definitely play a vital role to every traveler’s needs and you should take them into account as well.
- Step 4 : Location, location, location – If you are listing an apartment on Airbnb in London, make sure you see the average prices per night in your local area as a factor to have in mind.
- Step 5: Similar accessibility – What accessibility means here is both the location of your apartment from the city center and whether the listing has an elevator or stairs plus on what floor it is. This is of extreme importance to many travelers.
A Final Thought
In the end, the best piece of advice we can give on pricing your Airbnb London apartment is to make your nightly rate extremely low at start and once you get several great reviews – price your listings up. However, you should never forget to run promotions for the empty nights in your calendar and entice people to simply want to visit your space.