Hello everyone! Thinking about renting my place in Downtown SF (Close to Lombard Street) under AirBnB. It’s a 2+1 with in-house washer and dryer. Any thoughts about a good rate (per room or for the entire place)? Much appreciated! xoxo
To answer your questions, there are several aspects that you should look out for:
1. Room size
2. Proximity to other attraction places
3. Time of the year
4. Current rental rates around you
The list above is not exhaustive so I encourage you to do more researching. But from my understanding, you should probably check out how others around you are currently pricing their own places. Also, you may want to look into providing discounts (for longer stays, off-season, initial posting period) so customers are more interested in your properties. On top of that, based on my experience travelling abroad, Airbnb in Downtown SF can range from $70 to an astounding $500 per night! So, definitely check out how your place rank compared to other Airbnb places around you. Hopefully, that helps!
Margaret pointed out several excellent pointers. I believe that during peak-seasons such as Summer and Wintertime, this might not be much of a struggle because there will always be last-minute planners who need a place to stay. You might even be able to make a good profit during these seasons. However, generally, SF is such a heavily-visited place. Depending on what your place can offer and who your target guests, you can really come up with a good range of how the rent would be like. If you’re targeting solo travellers, then most likely, charging them anything more than $90/night is not the wisest decision. But, if you are targeting couples, they may be able to split the cost among them so charging a little higher wouldn’t be too bad. Of course, this all boils down to how you want your space used – can they share rooms, renting entire space or per room, etc.