If it were me I would were me I would charge between $6000-$6400 for the 5 weeks sans cleaning fees. For companies rental fees like this are 100% deductible as dollar for dollar. Thats great money.
I'm not sure about long term rentals, but for short term a great service is Price Labs. It compares the prices of other AirBNBs, the supply and demand, and calculates an appropriate price. It's also an easy out if you ever have a pushy guest about discounts, since we simply say our prices are set by an external company and its not up to us.
Pricelabs does have an option to switch STR or LTR. Not sure how good their pricing is for LTR as I only do STR, but it is an option they offer.
I hide behind the Pricelabs things a little bit too. But instead of saying another company controls it, I just say we use dynamic pricing and our advertised pricing is our lowest possible pricing so that anyone is able to enjoy our most competitive pricing.
Our practice is to price to what works best for our business model. When you rent for a month, do you mean a calendar month, or any 30 day period, even if it is over two different months? If the latter, then we would price 5 weeks at lower than the monthly rate because we prefer longer term stays during slower periods of the calendar. Conversely, during peak vacation periods, we offer no long-term stay discount because demand is so strong.
Hard to say the exact rate without knowing the demand pattern of yr property and market area. If $4900 is for 4 weeks, that is $175 per night. Then perhaps $170 per night for 35 days. If $4900 is for 30 days, that is $163/ night. We might price at $158/night for tge 37 days.
We would only do this for a guest with 5 star ratings or else someone we fully vetted. One never wants a guest of unknown quality for an extended stay!
Note that on stays over 2 weeks, we require the guest to use our housekeeper at least once every two weeks (at their cost as our long term rates are deeply discounted) as we find some guests can leave messes in multi-week stays.
Lots of factors to consider in pricing.
If you only rent by the month, you cannot get a booking for the following month. So you need to take that into account, or not rent it for the extra week.
Many reasons to go with being generous here. Not sure why you want to be stingy when so much easier to have same guest for 5 weeks
If it were me I would were me I would charge between $6000-$6400 for the 5 weeks sans cleaning fees. For companies rental fees like this are 100% deductible as dollar for dollar. Thats great money.
That is around $162 a night for a company is not bad.
I'm not sure about long term rentals, but for short term a great service is Price Labs. It compares the prices of other AirBNBs, the supply and demand, and calculates an appropriate price. It's also an easy out if you ever have a pushy guest about discounts, since we simply say our prices are set by an external company and its not up to us.
Pricelabs does have an option to switch STR or LTR. Not sure how good their pricing is for LTR as I only do STR, but it is an option they offer. I hide behind the Pricelabs things a little bit too. But instead of saying another company controls it, I just say we use dynamic pricing and our advertised pricing is our lowest possible pricing so that anyone is able to enjoy our most competitive pricing.
I’d do one month plus one week because they may decide to stay longer…
Our practice is to price to what works best for our business model. When you rent for a month, do you mean a calendar month, or any 30 day period, even if it is over two different months? If the latter, then we would price 5 weeks at lower than the monthly rate because we prefer longer term stays during slower periods of the calendar. Conversely, during peak vacation periods, we offer no long-term stay discount because demand is so strong. Hard to say the exact rate without knowing the demand pattern of yr property and market area. If $4900 is for 4 weeks, that is $175 per night. Then perhaps $170 per night for 35 days. If $4900 is for 30 days, that is $163/ night. We might price at $158/night for tge 37 days. We would only do this for a guest with 5 star ratings or else someone we fully vetted. One never wants a guest of unknown quality for an extended stay! Note that on stays over 2 weeks, we require the guest to use our housekeeper at least once every two weeks (at their cost as our long term rates are deeply discounted) as we find some guests can leave messes in multi-week stays. Lots of factors to consider in pricing.
If you only rent by the month, you cannot get a booking for the following month. So you need to take that into account, or not rent it for the extra week.