Guidelines for setting the Rate for your Asset/home
The whole idea of reciplocation.com is that people can utilise in each others idle assets.
It is important you set a rate for your asset/home that is correct. 1 point = $1USD, so you may need to do a conversion (see currency calculator tab) from your local currency.
Homes We have three rates: 1. Daily; 2. Weekly; and 3. Monthly. To give you an approximate guide, most homes listed are in the $(USD)60-$150 points/night range. The daily rate reduces as the length of stay increases, so the weekly and monthly rates are less when calculated on a daily rate basis.
The weekly rate normally equates to 5-6 days at the daily rate, and for a monthly rate it equates to about 20 days at the daily rate. So if your daily rate is $60 points, your weekly rate would be $300-360 points, and the rate for a month would be about $1200 points.
If you set your price too high – thinking you will build you account balance up more quickly – you may find the feedback comments left by other members who stay in your home indicate that your rate is too high. This in turn may lead to less people staying in your home in future.
In contrast, if you set your rate too low, you may find your home is very popular amongst members, but your account balance will not build as quickly as you would like.
So how do you know the price to set for your home?
Reciplocation rate calculator
Method one: Check rates for business hotels in your area such as Holiday Inn, Marriot, Hilton, Conrad or Hyatt, for the best rate economy, for a month in advance. As a rough guide for a daily rate, set your rate at about a half of the Holiday Inn price, a third of Marriott price and a quarter of the Hilton or Hyatt price. Reduce this daily rate for longer periods.
Method two: Take 1/20th (multiply by 0.05) of the rate your home would rent for a month for the daily rate. For the weekly rate divide by a third. For a monthly rate keep the figure the same.
Method three: Set a rate that you would be happy to pay to stay in your home for the respective period of time.
Method four: Compare your listing with other listings in your area.
Assets vary, and it is sometimes difficult to set an accurate rate for your asset. For tourist operators, we ask that you charge your normal rate, but deduct the commission normally paid to travel/booking agents. You will still end up with the same net income, but by cutting out the middleman, tours become cheaper for reciplocation.com members.
For cars/ motorbikes/ yachts/ boats RV's etc we suggest you look on the internet to guage what similar assets are renting for, and charge about 90% of this rate. If you have any doubts, just email us, and we will be glad to help.
