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Comparison of MyNPlace (MNP) with Competition A and B
MyNPlace (MNP) not only enhances the accommodation booking experience but also provides substantial savings for both owners and guests through a total fee reduction. This commitment to lower costs ensures that hosts can maximize their rental income while travelers enjoy more affordable lodging options, making MNP a smart choice for everyone involved.
Sample Savings Scenario
Scenario: A house shared room with a monthly rent of USD 2,000 in California.
1. Competition A platform
- Owner Fees: Competition A charges hosts a fee of 3% of the booking subtotal.
- Owner Fee: $2,000 * 3% = $60
- Guest Fees: Competition A charges guests a service fee ranging from 5% to 15%.
- Guest Fee (Average of 10%): $2,000 * 10% = $200
- Total Fees: $60 (owner) + $200 (guest)= $260
2. Competition B platform
- Owner Fees: Competition B charges a 5% commission on the booking total + a 3% payment processing fee, totaling 8% in fees.
- Owner Fee: $2,000 * 8% = $160
- Guest Fees: Competition B typically charges a service fee between 6% to 15%.
- Guest Fee (Average of 10%): $2,000 * 10% = $200
- Total Fees: $160 (owner) + $200 (guest)= $360
3. MyNPlace (MNP) platform
- Owner Fees: MyNPlace charges a 7% fee on the booking total.
- Owner Fee: $2,000 * 7% = $140
- Stripe Fees: For domestic cards, Stripe charges 2.9% + $0.30 per successful charge.
- Stripe Fee: $2,000 * 2.9% + $0.30 = $58 + $0.30 = $58.30
- Total Owner Cost: $140 (MNP fee) + $58.30 (Stripe fee) = $198.30
- Guest Fees: MyNPlace charges no guest fees.
- Guest Fee: $0
- Total Fees: $198.30 (owner) + $0 (guest)= $198.30
Comparing Total Fees
- Competition A: $260
- Competition B: $360
- MyNPlace (MNP): $198.30
Savings with MyNPlace (MNP)
Owner Savings:
- Compared to Competition A: $260 – $198.30 = $61.70 savings
- Compared to Competition B: $360 – $198.30 = $161.70 savings
Guest Savings:
- Compared to Competition A: $200 – $0 = $200 savings
- Compared to Competition B: $200 – $0 = $200 savings
Total Combined Savings (Owner + Guest):
- Compared to Competition A: $261.70
- Compared to Competition B: $361.70
Conclusion
MyNPlace (MNP) provides substantial savings for both owners and guests, with a total fee reduction of up to $361.70 per month compared to other platforms like Competition B. With a transparent pricing structure and no guest fees, MNP stands out as a highly cost-effective choice for property rentals.
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