What is my Minimum Price and how do I know if it's right?
Your minimum price is the lowest rate you'd be willing to accept for a night. This is completely up to you. Just remember that a high minimum price will limit how much our pricing tool can discount your listing for low demand and last minute bookings.
Our price recommendations will always suggest the highest nightly rate that our algorithm believes you can still get. This means increasing prices above your base rate during periods of high demand and decreasing prices below your base rate during periods of low demand.
Decreasing prices below your base rate during low demand periods maximizes your chances of still getting booked (and making some money) rather than having your listing sit empty and making no money at all. If you’re not comfortable with the lower rates though, you’re always welcome to set a higher minimum price that we will never go below.
Here's an example. With a Base Price of $148 and a Minimum Price of $120 you can see that during period of low demand we are hitting the Minimum Price for this listing. It is likely that this property will go unbooked as it is it is not priced competitively. If we lower the Minimum Price to $50 you can see that there is more variation in price and we are able to price dynamically.