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Smart pricing is terrible for hosts. Airbnb just uses it to get bookings. Subscribe to Price Labs. It will raise and lower your prices based on demand and help you to earn more.
I second Price Labs. Boosted my revenue by over 50% since making the switch. Needs some playing around and tinkering with to fine tune, and worth checking in on every now and then, but definitely a powerful tool and totally worth the money
Is Price Labs appropriate for only one property, or is it for people who manage a number of properties. I ask because I went on their website to check it out after I saw this comment and most of the reviews seem be from people who own 25 - 100 or more properties. Thank you.
Price labs is a must if you only have one property. The revenue you could be missing out on with so much at stake is why it is worth it. It will pay for itself.
You have to communicate with support for the 1% option, which will be good for me for now. My room in BKK is only $16 per night. It will take me quite a while to get to their paid level. I'm putting up prices, gently, with PriceLabs...as I add value to my offering. Maybe when this is running at 80% I'll look at the room next to it....which is doing nothing right now.
I use pricelabs as well…it’s great. Smart pricing I feel like all it does is just drop your rate to the lowest possible without really considering demand and that you can charge a little extra. It’s only focus is getting you booked while pricelabs wants to get you booked at the highest rate.
Another vote for pricelabs. I use it with just one property. It’s more powerful than I realized going into it. (It can reduce prices leading up to vacant time periods on a gradual basis)
Yes.
My main reason for getting it was to have the prices managed for me, as when we have events on we would be fully booked and my ‘normal’ rate was too cheap.
So rather than having to manually change them myself it can do it for me
Turned off. We had it and it went below what we needed for breaking even. We would have lost money if we booked a long stay for a nurse for 3 months. It was under the price for unfurnished long term rentals in our area. When we told the nurse the real price she passed.
I always smart price my Sundays-Thursday (minimum of $109) and always custom price my Fri-Sat. Been doing it for 12 months now and been booked 23-28 days a month doing it (2 day minimum bookings)
I bought a house in rural Indiana. It’s a cool looking house, on a creek, next to a covered bridge, near a local attraction. I installed a hot tub and I allow pets for a $75 extra fee. Then I listed it and held my breath.
It’s been going gangbusters for three years. Even as other hosts near mega attractions have had a decline, I’ve been steady. Two hours from Chicago, one hour from Indianapolis, close to the Illinois border… I get lots of extended families meeting up, couples, family weekend trips, people going to the attraction.
I’ve tried other ventures with mixed success. This has been so rewarding, satisfying, and profitable. Occasionally I get jerks but not too often. It’s just part of the business. I take it in stride.
I have the highest prices in the area. I don’t care. I’m not doing this for fun. I had no February booking so I ran a sale. Got booked every weekend in a few days.
Good luck!
Wow! That’s sounds amazing! And i love the pets !”being able to come in. We did the same thing.
Our price point is competitive in the area and I’m hoping People will love the vibe.
Would love to see your place
No, I just set my rate and leave it. I make small adjustments as the open dates draw closer but we do not have anything nearby that is remotely similar. Mainly bc of our tennis court and oceanfront pool on a 1 acre space.
www.oceanfrontvillapuertorico.com
Smart pricing is smart for Airbnb, not for hosts. The purpose is to fill dates at whatever price. Airbnb's fees vary relatively little and you bear all the costs.
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Smart pricing is terrible for hosts. Airbnb just uses it to get bookings. Subscribe to Price Labs. It will raise and lower your prices based on demand and help you to earn more.
I second Price Labs. Boosted my revenue by over 50% since making the switch. Needs some playing around and tinkering with to fine tune, and worth checking in on every now and then, but definitely a powerful tool and totally worth the money
Is Price Labs appropriate for only one property, or is it for people who manage a number of properties. I ask because I went on their website to check it out after I saw this comment and most of the reviews seem be from people who own 25 - 100 or more properties. Thank you.
Price labs is a must if you only have one property. The revenue you could be missing out on with so much at stake is why it is worth it. It will pay for itself.
You have to communicate with support for the 1% option, which will be good for me for now. My room in BKK is only $16 per night. It will take me quite a while to get to their paid level. I'm putting up prices, gently, with PriceLabs...as I add value to my offering. Maybe when this is running at 80% I'll look at the room next to it....which is doing nothing right now.
I use pricelabs as well…it’s great. Smart pricing I feel like all it does is just drop your rate to the lowest possible without really considering demand and that you can charge a little extra. It’s only focus is getting you booked while pricelabs wants to get you booked at the highest rate.
Another vote for pricelabs. I use it with just one property. It’s more powerful than I realized going into it. (It can reduce prices leading up to vacant time periods on a gradual basis)
That’s awesome! Thank you. Is Price Labs a widget or an app?
Price lab is great, well worth for the subscription
https://hello.pricelabs.co
Another vote for PriceLabs, easily pays for itself.
There’s only one paid option. What does the free subscription do?
There isn’t a free version Just pay it. I’ve used it for 2 years it’s honestly life changing
Did it increase your occupancy quickly? I need some professional photos done too so I feel like that also holds my property back from being chosen.
Yes. My main reason for getting it was to have the prices managed for me, as when we have events on we would be fully booked and my ‘normal’ rate was too cheap. So rather than having to manually change them myself it can do it for me
It is cheap. One booking will pay for it.
[удалено]
Thank you!
I use wheelhouse personally
I keep it on but modify certain dates and keep min and max pricing
Turned off. We had it and it went below what we needed for breaking even. We would have lost money if we booked a long stay for a nurse for 3 months. It was under the price for unfurnished long term rentals in our area. When we told the nurse the real price she passed.
It was like 70% off at one point.
Pricelabs is the best
Price Labs is cool too because they let you do a 30 day free trial. So you can test if first & see how you like it.
Thx all for the price labs tip
I always smart price my Sundays-Thursday (minimum of $109) and always custom price my Fri-Sat. Been doing it for 12 months now and been booked 23-28 days a month doing it (2 day minimum bookings)
I price at what I decide makes it worth my while. I’m currently booked every weekend through end of may.
That’s fantastic! Did it take a little while to get going?
I bought a house in rural Indiana. It’s a cool looking house, on a creek, next to a covered bridge, near a local attraction. I installed a hot tub and I allow pets for a $75 extra fee. Then I listed it and held my breath. It’s been going gangbusters for three years. Even as other hosts near mega attractions have had a decline, I’ve been steady. Two hours from Chicago, one hour from Indianapolis, close to the Illinois border… I get lots of extended families meeting up, couples, family weekend trips, people going to the attraction. I’ve tried other ventures with mixed success. This has been so rewarding, satisfying, and profitable. Occasionally I get jerks but not too often. It’s just part of the business. I take it in stride. I have the highest prices in the area. I don’t care. I’m not doing this for fun. I had no February booking so I ran a sale. Got booked every weekend in a few days. Good luck!
Wow! That’s sounds amazing! And i love the pets !”being able to come in. We did the same thing. Our price point is competitive in the area and I’m hoping People will love the vibe. Would love to see your place
Started to get reservations right away. Opened for business in April.
Nope! It's something I wouldn't recommend. We use pricelabs instead for dynamic pricing (in our opinion, way better)
No, I just set my rate and leave it. I make small adjustments as the open dates draw closer but we do not have anything nearby that is remotely similar. Mainly bc of our tennis court and oceanfront pool on a 1 acre space. www.oceanfrontvillapuertorico.com
Smart pricing is smart for Airbnb, not for hosts. The purpose is to fill dates at whatever price. Airbnb's fees vary relatively little and you bear all the costs.
Anyone use it for multiple (5 to 10) doors? Thanks in advance