How do I set the rental amount?
It’s well-known that choosing the right rental price is crucial in attracting potential tenants to your property. The amounts you set are completely up to your decision. In case you are ever looking to increase the number of received bookings, we recommend that you experiment with the rates in the My Rentals web app to see which price range gives you the best response rate.
Please keep in mind that the rental rates you share on Flatio must always cover all charges for utilities (water, electricity, etc.), as well as the commission fee for Flatio.
How to set the prices?
To set up prices for your listing, you need to go to the My Rentals web app and:
- In the Properties section, click on the specific listing’s detail;
- On the newly shown menu on the left, select the Rental prices and duration section;
- In the Price settings subsection, click on the "Short-term rentals" or "Mid-term rentals" button to set up the prices for the desired rental type.
If you prefer to import prices from a channel manager (e.g., BookingSync, ICNEA, or Better Hotel) instead, you can handle the synchronization via the Integration section of your profile, where it's possible to import short-term prices and/or mid-term prices to Flatio.
Basic rent
For long- and mid-term rentals (i.e. stays from 30 days/29 nights onwards) you need to set a basic monthly price, whereas for short-term rentals (i.e. stays up to 29 days/28 nights) you have to set a basic nightly price. These fields are mandatory. We then use these price bases to calculate the rent for reservations outside the dates/months when advanced price settings should be used according to your settings.
Seasonal pricing
You also have the option to set up different prices for specific months. If this setting is used, it will be charged instead of the basic price when applicable. In case you decide to not set it for certain months, the basic price will be applied during those periods.
Example for mid-term rentals settings:
In the mid-term settings, you have a monthly base price set to 1000€. Only for the months of July and August, you change the rate, increasing it to 1200€.
Then you receive a booking for the whole year. From January to June (included), the tenant will pay 1000€, for July and August he will pay 1200€, and from September we will charge him 1000€ again.
Custom prices for specific dates
Finally, you can even choose to charge special prices for specific dates.
This setting is mostly used to either increase the rate during holidays or local festivals, or on the other hand, decrease the price to fill in a gap between bookings.
Click “+ Add new rental price” to access a form where you can fill in the relevant dates and the desired rental amount per night (for both mid- and short-term settings).
Example for mid-term rentals settings:
In the mid-term settings, you have a monthly base price set to 1000€. There is a local festival from 1.-5.7., during which you would like to increase the price even for tenants who stay 30+ days in the property.
Since July has 30 nights, the standard nightly price is 33€ (1000€ / 30 nights). If you wish to increase the rate for the period of the festival, you need to go to the custom prices settings and set up the dates and new nightly rate. If you set that from 1. to 5.7., the new nightly rate will be 45€, it will be charged for the nights within the given period, i.e. 4 nights (1.-2., 2.-3., 3.-4., 4.-5.).
If the tenant then stays between 1.-31.7., he will pay 1047€ for the whole month ((1000 € / 30 nights * 26 nights) + (45 € * 4 nights)) instead of only 1000€.
Length discounts
On top of all this, you can even choose to set up percentage discounts for longer reservations. We strongly recommend offering these discounts, as tenants often favor listings with such options.
- In the short-term prices settings, you can apply discounts for stays of 7-13 days and 14-29 days.
- In the mid- and long-term prices settings, it’s possible to set up discounts for durations of 30–89 days, 90–179 days, and for stays exceeding 180 days.
And the cherry on top is that you don’t need to worry about setting prices incorrectly! We've developed a detailed calculator in the price settings section to precisely show you how the rent is calculated. This tool allows you to ensure that everything is set up correctly before you share your listing on Flatio.
