Helping you set the right Base rate with Rategenie

What is the base rate?

Base rate is the average rate you would charge across the year.

We use the base rate as a starting rate and apply all market factors, demand patterns, and customisations on top of this. The base rate includes the quality of your listing. So, a two-bedroom with high-end luxury room will have a higher base rate than a basic two-bedroom.

Base rate Help

Using market data, the Base rate Help tool helps determine a good starting point for your listing's base rate. This tool analyses a few hundred listings nearest to yours, in order to filter the results to match your competition.

To start using the Base rate Help tool, click "market base rate recommendation" icon on your rental settings page.

Set your base rate based on the market data:

Market Level: Select the price level you want your listing to be positioned in, either Average, EconomyMidscale, or Upscale, which correspond to 25th, 50th, 75th and 90th percentile prices, respectively.

The "Midscale level" is often a good starting point, but other factors might justify a higher or lower rate. For example, if your listing is new and has no reviews yet, it might make sense to set your rate below the median to attract more guests. On the other hand, if your listing is very high-end, it could be safely rate above the median. Also, please note that 1 bedroom count listing might have different base rate recommendation value as compared to 2 bedroom count listing.

Market percentile factor

This indicator shows in what percentile of the selected market the newly selected base rate will be. The market is affected by both bedroom category selection and your location selection. For market-based, this will always be 25th, 50th, 75th and 90th percentile.

Market data Graph future prediction

The last step is reviewing your selected base rate before confirming it. To help confirm the impact of the base rate selection, you can review what will be the average monthly rates across the year. Please Note that these averages are there as a reference only - the final recommended rate during high and low seasons might differ substantially from these due to customisations (such as seasonality) and market effects (such as Demand Factor).

Custom base rate:

If you are not comfortable with our recommended market base rates then you can Select the 'Custom' button to input a base rate manually.

Important Note

  • Before confirming the base rate, also consider your listing's occupancy. In general, if your occupancy is low, increasing from the current base rate is not a good idea. Conversely, if your occupancy is already very high, decreasing your base rate is probably unnecessary.
  • When thinking about base rate, do not include taxes. Those are usually charged above your nightly rate.
  • Enter minimum and maximum rates for your listing(s). While all the calculations to determine your daily rates are based on your base rate, the min and max rates act as stopping points. Setting minimum and maximum rates ensure your rates don't drop too low or spike too high.

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