Trying to figure out the price of your listing? We've got you covered! In this guide, we'll break down everything you need to know about how Native Spaces’ rental pricing works, making it easy for you to understand so you can easily complete your venue pricing.
1. Choose the pricing model
You will firstly have to decide how are you basing your price. With Native Spaces you can choose between 3 options:
1 Renting the venue for a fee
I charge an hourly or daily rental fee to privatise my space. I do not require minimum spend on catering or other services.
2 Renting with a minimum spend
I do not charge a fee to rent the space, but I require a minimum spend on our services (such as catering) in order to privatise the space.
3 Renting with a fee + minimum spend
To privatise the space I require both a rental fee and a minimum spend on my services (such as catering).
Usually places such as restaurants or bars choose the “Renting with a minimum spend” option since they can provide the food and beverages and this enables them to make a profit higher than the price of privatisation. While private properties (villas, flats, etc.), normally choose the option “Renting the venue for a fee” with a price per hour or per day.
2. Additional Pricing details
You have an open description available to provide more details on:
- Starting prices for different event types (film/photo shoot, private event, retreat/stay)
- Pricing variations based on the number of guests
- Pricing with and without accommodation
- Additional services you offer: cleaning fees, catering etc.
3. Is the pricing seasonal?
Some properties have different values depending on the season. So, you can define high-season or low-season prices. You will also have define your periods for high and low season.
For example, high season for private beaches is during warmer periods (May to October) whereas for chalets in the mountains is during ski season (November to March) and they usually put higher prices during these periods due to higher demand.
4. Check similar spaces in the catalog
You can check what other spaces similar to yours have put as pricing on their properties.
5. Define your event space pricing
Giving a price for an event is a complicated task since you have a lot of different factors that can have a great impact on the final quote (time of the day, number of hours, number of guests, etc.). In order to have a much more detailed and accurate pricing for your rental we have created a system that will allow you to better define your rental fees.
This new system uses a specific number of guests for an event and builds the pricing around this quantity. You can activate different ranges of time and define a staring price for each:
- Per hour: Define a starting price per hour and the minimum hours you will rent it for.
- For half a day: Define a starting price for a 4h rental.
- For an evening event: Define a starting price for an evening event counting between 6pm and midnight
- For an day event: Define a starting price for a day event, counting between 9am and 6pm
- For day & evening event: Define a starting price for an event, counting between 9am and midnight.
These starting prices will be based on a certain number of guests for an event. So, if we look at the example above, the host has set his starting prices for 20 people. Therefore, half a day would cost €100 for 20 people. If we want to know the price for an event for 25 people, we will have to use the initial price for half a day and then add €10 per additional person (over 20 people), i.e. €100 + 5x€10 = €150.
If you previously defined your pricing as seasonal you will have extra fields to differentiate the starting price for an event (of the number of guests that you have defined) depending on the season.
6. Define your accommodation pricing
Here you can add the average price per room or the price per night for a full privatisation of all the bedrooms.
With this new detailed pricing we can even calculate the price for a weekend (Saturday morning to Sunday Evening) since we could sum up : “Price for a Day” + “Price for an Evening” + “Full price of the accommodation” + “Price for a Day”.
With this new breakdown we expect to make the pricing of your venue a lot more clear and pertinent, so we can help you receive demands that are a better fit for you.