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Updated 10 months ago,
Pricing in Diverse Market
Hi there so I am having a hard time with pricing in my current market and was wondering if someone could give me some pointers / connect.
So I have a home on one of the finger lakes that I just fully renovated. I have a hard time pricing even with airdna because a 1 bedroom on the lake goes for obvisouly a lot more than mine. Mine does have lake access but it is a bit of a walk and shared with my HOA.
Now my house has many comparable comps in the area but they dont know what there doing (bad pictures, low occupancy) I undercut all of them in the slow season and was 88% booked when the average in my small area was 14% i was charging $100 a night while my comp was charging $140 a night but not getting booked.
Im struggling because I do have one of the nicer looking homes in the area and a-lot more amenities but in my position I dont really want to take some major risk going into high season and missing occupancy. I use pricelabs so if anyone could share some tips setting wise that would be amazing! I also raised my prices to a base of 150 from a 120 and my minimum is now 120 a night.
I cash flow a great amount but should I try and get more?