How to price your vacation rental? Online tools that have the answer

We love it when clever softwares enter the vacation rental market. In this new niche start-ups promise to improve your holiday rental rates… the automatic way! Some base it on the time of the year or on the rates of your competition, and some even say they manage to give you the best rates for your vacation rentals based on their big data analysis. Wow! So we let you be the judge if Mike’s holiday rental pricing advice and Vanessa’s tips on lowering the price to get reviews are a bit “passé”… and welcome you to the future of how to price your vacation rental with these 4 mind-blowing pricing engines!

pricing-engine

Everbooked.com

Everbooked.com is an automated pricing engine for your Airbnb rental properties. Only available in the US at the moment (**sigh**), it uses the power of big data and predictive analytics to price your vacation rental the optimal way. The data is made of listing analytics, local events and the seasons travellers actually…travel! But hang on, the beauty of it all is that they change the price for you! Try 1 month free and after that 1%. JA! some of the best companies out there charge only 1%! 🙂

SmartHost

SmartHost, provides pricing advice specifically for Airbnb and HomeAway advertisers. Their algorithm is based on the market price: they build a set of similar properties in your area and they show how you can be competitive each week night and during all your local events. Early access is available now and we reckon: well-worth giving it a try!

Pricelabs.co

It’s all about revenue management and Pricelabs.co understands this very well. They seem to be still in beta but we think these guys are serious about disrupting the niche. Only for AirBnB at the moment, the software updates your pricing and makes your money. Or at least promises too. We’d love to hear more from them – what will the pricing? what do they base the analysis on? Maybe they’ll be so kind to comment below?!

vacation-rental-pricing

RentingYourPlace.com

Funky product branding with their “AirDnA”, RentingYourPlace.com sells vacation rental intelligence reports in your area. Download the Honolulu market report based on 1058 properties for $29,99 and you’ll find out about pricing, number enquiries, amenities and revenue for each property type in your Honolulu neighbourhood. This seems to be an invaluable source of info for those looking to purchase a property and rent it out. But sadly , only in the States for the moment.

Sometimes we wonder… why do our fellow local entrepreneurs not copy such great ideas for the European market? hint hint 🙂

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  • Hey guys! No love for Beyond Pricing (www.beyondpricing.com)? We were the first to launch, are available in 26 global cities, have just raised $1.5M from top VCs, and price over $1M in bookings per week. We work with the top property managers around the world, too: http://www.beyondpricing.com/about/partners . Check us out!

  • pricelabs

    Hey guys, thanks for the mention! We are available in all major cities as you already know. We are recently out of Beta, thanks to a good mix of hosts and property managers using our service and giving us much needed feedback.

    Our analysis is based on some very typical factors listings characteristics, understanding of the local neighborhood, overall accommodation index of the neighborhood, and various such factors, and on top of that we layer the magic of predictive analytics – which is the real sauce.

    On pricing, you’ll hear soon from us. Just wrapping up a few things before we get there. 🙂

    In the meanwhile, have an Airbnb property, check your pricing at http://www.pricelabs.co

  • PriceLabs

    Hey guys, thanks for the mention! We are available in all major cities as you already know and we are recently out of Beta, thanks to a good mix of hosts and property managers using our service and giving us much needed feedback.

    Our analysis is based on some very typical factors listings characteristics, understanding of the local neighborhood, overall accommodation index of the neighborhood, and various such factors, and on top of that we layer the magic of predictive analytics – which is the real sauce.

    On pricing, you’ll hear soon from us. Just wrapping up a few things before we get there. 🙂

    In the meanwhile, have an Airbnb property, check your pricing at http://www.pricelabs.co

  • Thanks so much for this! We’re fans!

  • Nice one Ian!! I guess we’ll have to have a “How to price your vacation rental part 2”!

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