Use this article about Flatio's advanced pricing options to understand how they all work in practice. Examples provided!
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Use this article about Flatio's advanced pricing options to understand how they all work in practice. Examples provided!
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Of course you can! On Flatio, you can set different prices for different periods, whether it’s for specific months or even some special short-time events.
In the default prices settings, you need to set a basic monthly price. It’s completely up to you whether you decide to use any of the advanced settings, although we highly recommend it. From the advanced options, you can choose to:
If you allow short-term stays (up to 29 days) and prefer using different pricing than for longer stays, you can also activate short-term prices which will replace the default ones for short-term reservations. Activation can be done by setting up the prices under this section. The basic nightly price is mandatory and any advanced settings (seasonal rates, custom rates, or length-based discounts) are optional.
Note: If you activate your short-term prices by only setting the basic nightly price and leaving the advanced settings empty, no advanced pricing will be applied to your short-term reservations, even if you have some set up in the default pricing. The default prices would be applicable to short-term reservations only if you had the short-term prices deactivated. |
To calculate rental payments for a reservation, we’ve settled the priorities of each price type. The one with a higher priority always beats the one with a lower priority.
Their order, from the highest priority to the lowest one, is the following:
To settle the price for the reservation, first we’ll check if there are advanced prices set - custom prices (i.e., specific prices set only for a given period) have the highest priority and seasonal prices (i.e., prices for specific months) follow.
If the prices for all days of the reservation are not fully covered, for those we’ll use the mandatory basic price set by you. Please note that even though this base price is set for a whole month, we’ll divide it appropriately by the number of nights within the given month - in case of e.g. July it would be 30 - and operate with nightly prices for the missing dates.
Let’s say you get a reservation request for a stay from June 1 to August 15. We consider it a mid-term reservation, meaning we’ll use the default rent settings operating with monthly prices.
Imagine that you have a basic monthly rental set at 1000 €. You only raise the rent via seasonal settings to 1200 € for the months of July (i.e. July 1 to July 31) and August (i.e. August 1 to August 31). On top of this, there is a special event in the city on July 14-17, which is specified by a specially higher nightly rate of 45 €.
Here’s how the payments will be calculated:
Month | Tenant stays for | Price type applied | Calculation | Price to be paid |
June |
29 nights |
basic (1000 €) | 1000 € / 29 nights * 29 nights |
1000 € |
July |
30 nights |
seasonal for July (1200 €), custom for 14.-17.7. (45 €) |
(1200 € / 30 nights * 27 nights) + (45 € * 3 nights) | 1215 € |
August | 14 nights | seasonal for August (1200 €) | 1200 € / 30 nights * 14 nights |
560 € |
IMPORTANT NOTE: If you received a reservation shorter than 30 days and you had the short-term prices activated, we would calculate the rent based on the short-term price settings, operating directly with nightly prices instead of the monthly ones.
To set up prices for your listing, you need to go to the My Rentals web app and:
To learn more about the price settings and how it all works, please visit this article.