Data file: Airbnb Seattle Listings
Team name: 418 I'a a teapot
Team Members: Xinyue Zeng, Qian Wu, Yaxin Liao, Xiaoyu Zhang
Its the million dollar question… How much money is your place worth as a short-term rental on Airbnb?
How to settle the price for the house is a unavoid question to the host in Airbnb. Airbnb is also trying to design a more reasonablepricing strategy for its host as well as considering the guest side.
When pricing a house, there are many aspects needs to take into consideration. And what's more, as revealed in our report, no single factor has a determinant power in the pricing. Different aspects work together. The place where it locates, the condition and infrastucture of the house, and the descrition of the house given by host can also have an impact on the pricing. A more positive host can leave a better impression on the guest, image management is also a deal the host should take into account if he or she want to rent the house at a satisfying price.
In a word, it's never an easy thing to pricing your house in Airbnb, but there indeed exists something you can do to make your house worth more.