Can you charge $1000 a night for your property? Maybe you can.
The most common mistake most of the hosts make is not charging enough for the property.
In the year 2000, I started working as a financial analyst/trader at a Wall Street company. Market fluctuations, supply, demand are in my blood. After many years of speculative games, I look at everything through the prism of numbers. Let me share my 5 years of observation of short-term rental market price movements and host behavior.
The main theory of the game is "the higher demand and less of supply, the higher prices" but it does not always work like that in STR (short-term rent) market. In STR market there is time factor and hosts' emotions (fear and greed).
is what supply looks like:
In the year 2000, I started working as a financial analyst/trader at a Wall Street company. Market fluctuations, supply, demand are in my blood. After many years of speculative games, I look at everything through the prism of numbers. Let me share my 5 years of observation of short-term rental market price movements and host behavior.
The main theory of the game is "the higher demand and less of supply, the higher prices" but it does not always work like that in STR (short-term rent) market. In STR market there is time factor and hosts' emotions (fear and greed).
is what supply looks like:
