How to Set the Perfect Price for Your Airbnb in New Liskeard | Hosting Secrets

How to Set the Perfect Price for Your Airbnb in New Liskeard | Hosting Secrets

New Liskeard

Pricing your Airbnb property right can be the difference between a bustling calendar and empty rooms. Every day, week, and season brings different demand levels, making it tricky to know what rate your property can realistically achieve. In this guide, you'll find essential insights on all the factors that influence Airbnb pricing in New Liskeard—from seasonal demand and local events to occupancy trends.

We’ll begin with some key data on New Liskeard, followed by a breakdown of the three main pricing approaches for Airbnb properties, along with their pros and cons. Follow each section carefully to make the best pricing decisions and maximize your property’s potential.

Average Nightly Rate For Airbnb's in New Liskeard by Season:

Here are the typical nightly rates for Airbnb listings in New Liskeard across different seasons. Obvisouly, the price may vary hugely depending on the amenities offered and the property style as well location plays a key role.


Property Type Room Count Season Nightly Rate (CAD)
Private Room 1 Summer 75-100
Flats 1-2 Winter 100-150
House 3-4 Spring 150-200
Bungalow 2-3 Fall 120-180
Villa 5-6 Summer 250-300
Please note that these rates are approximate and can vary depending on specific property amenities, location, and availability.

Occupancy Rate Trends in New Liskeard:

Understand the occupancy patterns in New Liskeard throughout the year. Recognizing peak and low-demand periods can guide your pricing adjustments.


Month Occupancy Rate Trend/Comments
January 50% Low-demand period due to cold weather and post-holiday season
February 60% Occupancy rate increases slightly but still considered a low-demand period
March 75% Occupancy rate picks up due to spring break and milder weather
April 80% High-demand period with Easter holidays and outdoor activities attracting visitors
May 85% Occupancy rate continues to rise as summer approaches, weekend bookings also increase
June 90% Peak season starts with warmer weather, various events, and weekends being popular
July 95% Peak season continues with summer vacations and festivals driving high occupancy rates
August 90% Occupancy remains high; weekends are especially busy with tourists and travelers
September 80% Occupancy starts to decline post-summer peak, but weekends remain popular
October 75% Occupancy rate decreases as fall sets in, fewer major events impacting demand
November 65% Low-demand period due to colder weather and pre-holiday lull
December 70% Occupancy picks up towards the end of the month with holiday season, especially weekends

Local Events that Impact Airbnb Prices in New Liskeard:

These are the key events in New Liskeard that affect Airbnb pricing and demand. Aligning your rates with these events can maximize occupancy and revenue.


Event Timing Influence on Airbnb Pricing
New Liskeard Farmers' Market Summer months (May-October) The Farmers' Market attracts visitors looking for accommodation close to the event. As demand for Airbnb rentals increases during this time, prices tend to rise.
New Liskeard Bikers Reunion Mid-July During the Bikers Reunion, many motorcycle enthusiasts flock to New Liskeard, driving up demand for accommodation. Airbnb hosts can capitalize on this surge in demand by adjusting their prices accordingly.
New Liskeard Fall Fair Late September The Fall Fair is a popular annual event that attracts both locals and tourists. Visitors attending the fair often seek Airbnb rentals for lodging, leading to an increase in prices during this period.
Timiskaming Art Studio Tour Early August Art enthusiasts from near and far participate in the Art Studio Tour, creating a spike in demand for accommodations. Airbnb hosts can adjust their pricing to take advantage of the increased interest in the area during this event.

So, How to Price it Right?

As an experienced Airbnb host, I’ve learned there are three primary methods for setting prices, each with its own advantages and challenges. Here’s a practical breakdown to help you make an informed decision and maximize your rental income.

1. Manual Pricing

With manual pricing, you select a rate for each day, week, or month on your calendar. Watch this video on how to update prices on your calendar manually.

ProsCons
Full control: Over pricing for specific dates, allowing flexibility for weekends, holidays, or peak season adjustments.Time-consuming: Frequent updates are needed, especially during high-demand periods.
Risk of leaving money on the table: Missing out on peak earnings during busy times or failing to lower prices during slower periods.
Limited market insight: Without real-time data, you risk underpricing for high-demand days or overpricing during slow seasons.

Example: Setting a flat rate of $100 per night may seem easy, but it could lead to missed opportunities. A busy weekend might warrant $150, while a slower weekday could require $90 to attract bookings.

2. Airbnb Smart Pricing

Airbnb’s Smart Pricing feature automatically adjusts rates based on local demand. Learn how to enable Smart Pricing on Airbnb.

ProsCons
Easy setup: No need for third-party tools.Priced too low: Airbnb often favors higher occupancy, leading to lower prices and, consequently, lower revenue.
Automatic adjustments: Adapts to area demand, so you don’t need to constantly update prices.Reduced control: You can set minimum and maximum prices, but the algorithm’s primary focus is occupancy over earnings.

Example: Airbnb might suggest $65 for a property that typically rents for $120. This may fill up your calendar but at the expense of significant income.

3. Dynamic Pricing Tools (Best Option)

Third-party dynamic pricing tools, like Beyond Pricing, use advanced data to set daily rates based on market conditions, similar to hotels and airlines.

ProsCons
Data-driven algorithms: Factors like local events, competitor pricing, and seasonality ensure you’re optimizing rates.Cost: Typically a small commission or monthly fee (e.g., 1% of bookings or $10 monthly).
Revenue maximization: Capture peak rates during busy times while staying competitive in slower periods.Learning curve: Getting comfortable with the tool’s settings and reports takes a little time.
Automated and customizable: Set your base price, minimums, and even specific discounts. Prices update daily.

Beyond Pricing offers features like orphan gap filling and last-minute discounts to avoid leaving money on the table. If you’re earning over $2,500 monthly, their flat $10 monthly fee is generally more cost-effective than a percentage commission.

Special Offer: Beyond Pricing offers a 1-month free trial. Follow this link to sign up and give it a try to see how it can optimize your earnings.

Practical Pricing Tips

Regardless of the method you choose, here are some practical steps for setting an effective baseline:

  1. Check the local market: Look up similar properties to get a sense of the going rate. If similar listings are priced at $100 per night, start slightly higher.

  2. Start high, adjust down: Try setting a rate of $120, then reduce it by $5 every three days until bookings pick up. This strategy helps you find the ideal rate where bookings are consistent.

  3. Focus on the nightly rate: Ignore service fees and commissions when comparing, as Airbnb automatically adds these to the listing price.

Why Pricing it Right Matters

Pricing is not just about covering your costs; it’s a key factor in your property’s visibility and booking rate. Lower prices can lead to more bookings, but balancing occupancy and rate is essential for maximizing revenue.

With a dynamic pricing tool like Beyond Pricing, you get automated, data-backed rate adjustments that help you capture the highest possible earnings while keeping your calendar full. I highly recommend Beyond Pricing as a reliable, market-savvy tool that adjusts rates in real time based on demand.

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