Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

38
Posts
9
Votes
Jeremiah Dye
  • Colorado Springs, CO
9
Votes |
38
Posts

Short term rental Base Pricing

Jeremiah Dye
  • Colorado Springs, CO
Posted

Hello all!

My wife and I purchased a small studio on the beach in Panama City Beach, Fl. We’ve owned it since spring of ‘22. After purchasing there has been a few special assessments and they are killing us and there are more to come. If it wasn’t for them we would be making some profit, like we estimated.

We came up with a base price by adding up yearly expenses and then divided them into the days between March and October and then utilizing dynamic pricing. This strategy puts us higher than everyone else. Are we doing this right? It’s available 365 days, but during winter demand is low to none. That’s why we chose 200 days as available.

The studio is nothing fancy, budget friendly for a couple with 2 small kids. Is our pricing strategy sound? Is this just growing pangs for new STR owners? We're using AirDNA and Airbnb smart pricing to help with the dynamic pricing and to see what other hosts are charging.

Most Popular Reply

User Stats

12,327
Posts
14,934
Votes
John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
14,934
Votes |
12,327
Posts
John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied

Its all supply and demand, not what pays the bills or makes loads of money.

Once your established with good reviews and a great product,  I would set your nightly price a little higher than everyone else during the peak season.

I'd go a little below everyone else during the slow season. 

  • John Underwood
  • Loading replies...