Hey there, hosts! We manage 65+ properties nationwide, and we’ve refined a data‑driven pricing system that thrives from sleepy off‑season nights to blockbuster weekends. Prefer to watch? Hit play on the video below—or read on for the full step‑by‑step guide (screenshots included) to see exactly how we configure PriceLabs and our pricing strategies!
Replace guesswork with data
• PriceLabs → Revenue Estimator Pro: Enter beds, location, currency → export the 12‑month demand curve.
• Highlight mid‑term‑rental opportunities; compare Furnished Finder monthly rents to PriceLabs monthly projection.
• If MTR beats STR, add Monthly Discount, market the unit 60 days prior, and screen guests.
• If you stay STR, price 15–20 % below comps in dead zones so your listing books first.
Premium Pricing for Peak Season & Event Overrides
Capture high‑demand dollars
• Automated Peak Strategy: In PriceLabs > All Customisations set Occupancy‑Based, Demand‑Factor, and Seasonality Sensitivity to Aggressive.
• Rates climb 30–60 % above Base Price when demand spikes.
• Manual Event Overrides: Identify high‑impact events quarterly; set nightly rate to 3‑5 × your average. Example: Milwaukee RNC booked at $1,800/night (vs $600–700 comps).
• Checkpoint: If unbooked 15–30 days out, reduce price daily (30–45 days for large homes).
Adjust Minimum‑Night Stays & Orphan‑Day Premiums
Balance turnover cost & booking visibility
• Sliding Window Rules:
– 0–30 days: 2‑night min (weekdays & weekends)
– 30–60 days: 2‑night weekdays, 3‑night weekends
– 60–120 days: 3‑night min
– 120 + days: 3‑night weekdays, 4‑night weekends
• Orphan‑Day Premiums: In PriceLabs > Orphan Day Prices set Gap Length 1–3 nights; Markup +10 % weekdays, +25 % weekends.
• Revisit at 7 days out—see Step 4 if still vacant.
Manual Price Drops at 15 & 7 Days
Capture last‑minute bookings
• 15 days before check‑in: reduce rate 8–30 % to stay ahead of comps.
• 7 days before check‑in: drop up to 50 % (never below Minimum Price).
• These tactical cuts add 15–30 % extra monthly revenue vs hosts who stay rigid.
Far‑Out Premium Strategy
Charge planners for certainty
• Guests booking 60 + days out will pay more.
• In PriceLabs > Far‑Future Premium: start +20 % at Day 60, ramp to +40 % by Day 139.
• Review quarterly; adjust to market shifts.
Weekly Market Monitoring
Keep your rates in sync with reality
• Every Monday (15 min) pull 5–7 comps and ask:
– Are they booking faster?
– Are their rates trending?
– Have they changed minimum stays?
• Peak Season: hold firm or raise if comps fill far out.
• Slow Season: match or beat market if comps stagnate.
Dial‑In Your Minimum & Base Price
Set smart floors & anchors
• Minimum Price: Must cover cleaning, fees, supplies, profit; deters risky guests.
• Base Price: Average your 5–7 core comps (weekday & weekend). InPriceLabs > “Help Me Choose a Base Price” select category & bedrooms, then tweak.
• Re‑evaluate monthly; markets always move.
Key Metrics We Track
Measure what matters
| Metric | Target | Reason |
|---|---|---|
| Occupancy | 65–75% annually | Balances revenue & turnover cost |
| ADR | ≥ +10% vs market mean | Shows pricing power |
| RevPAR | Up YoY | Combines rate & occupancy |
| Booking Window | 10-25 days | Indicates demand-forecast accuracy |
Want insider pricing strategies, mid-term rental hacks, and property management tips that actually work? Our blog is packed with practical advice we’ve tested across 65+ properties nationwide—and we’re just getting started.
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