# What is my Minimum Price, and how do I know if it's correct?

> Your Minimum Price is the lowest rate you'd be willing to accept for a night. Beyond recommends setting it as low as you feel comfortable.

Source: https://support.beyondpricing.com/en_us/what-is-my-minimum-price-and-how-do-i-know-if-it's-correct-rkhN8roSu

Last updated: 2024-10-07T15:35:29.173Z

Your Minimum Price is the lowest rate you'd be willing to accept for a night. This is completely up to you. We recommend setting it as low as you feel comfortable.

This doesn’t mean our suggested pricing will ever reach that point -- Beyond will always suggest prices that fluctuate around your Base Price given the demand in your market.

## **Minimum Price Helper**

Setting the perfect Minimum Price can be tough! This is why we created the Minimum Price Helper — To help you kickstart your pricing strategy on the right foot. The Minimum Price Helper is available for all new listings where pricing is not enabled.   
  
The Minimum Price Helper can be accessed: 

1.  By clicking "Review Pricing" on a new listing with price posting off, then you will see the tooltip for the recommended Minimum Price:  
      
    

![](https://cdn.kustomerhostedcontent.com/media/603e4c1ab69d9cd3c0b6f415/e406de2ec76749b3028c9b17b941add3.png)

  
This recommended Minimum Price is based on current market conditions along with historical and future scraped prices for the top performing 10% of listings in your market to determine the best minimum price point for your specific listing type and size. 

If you have any questions about the Minimum Price Helper or how to get started feel free to reach out to us at [**support@beyondpricing.com**](mailto:support@beyondpricing.com) and we would be happy to help!

  

## **Why is my Minimum Price important?**

  
Setting a lower Minimum Price allows for appropriate fluctuation in the daily rate when demand is low, optimizing for more bookings. This feeds into the [**larger Beyond strategy**](https://support.beyondpricing.com/how-does-beyond-pricing-work-(video)-HkF4UBiSd) of getting you booked at the best price at the best time to optimize both Occupancy and Average Daily Rate (ADR), increasing your revenue.  
  

## **How do I set my Minimum Price?**

  
We recommend setting your Minimum Price in your Chart Tab. That way, you can see how different Minimum Prices will affect your nightly rate fluctuation over the next year given your Base Price.

  _Let's take a look at an example listing in San Francisco, a typical urban market with swings between the weekend and weekdays. When we increase the Minimum Price too much, our rates flatline through most of low season._

_![](https://cdn.kustomerhostedcontent.com/media/603e4c1ab69d9cd3c0b6f415/67b3123ae98c3865ee05f3a4b59769f9.gif)_  
  

  
Need help setting your Base Price? [**Click here**](https://support.beyondpricing.com/en_us/what-is-my-base-price-and-when-should-i-change-it-(video)-Hy9E8HorO) to learn more.  
  

## **What if I want to set a high Minimum Price?**

  
Some hosts operating within special circumstances set a high Minimum Price.

However, we always recommend setting your Minimum Price to allow for full-rate fluctuation in periods of low demand if you feel comfortable doing so. This will help keep your listing competitive to maximize your revenue.

We understand this might be different from previous pricing strategies. [**Click here**](https://support.beyondpricing.com/en_us/tips-for-owner-conversations-ry91uHoHO) for more resources on how to communicate the Beyond philosophy with partners and owners.

Note that a high Minimum Price will likely result in fewer bookings in periods of low demand and limit last-minute bookings.  
  

## **Should I ever change my Minimum Price?**

  
If you set your Minimum Price to the lowest rate you would feel comfortable accepting for one night, you shouldn't worry about changing your Minimum Price.

If your Minimum Price is set to a higher rate and you lower your Base Price, you might want to reassess your Minimum Price.

Remember, the goal is to make sure your rates can fluctuate as necessary given demand.

**Related****:** [**What is my Base Price and when should I change it?**](https://support.beyondpricing.com/en_us/what-is-my-base-price-and-when-should-i-change-it-(video)-Hy9E8HorO)

  

## **Can I set different Minimum Prices for different dates?**

  
Yes -- you can set different Minimum Prices for different dates in the Customize Tab. [**Click here**](https://support.beyondpricing.com/can-i-set-annual-and-seasonal-minimum-and-maximum-prices-BJ20LroS_) to learn more.

  

Want to watch a video to understand the process better? Look no further! Check the video below on how to set your Minimum Price.