What Is PriceLabs and How Is It Designed for Rentals? 

Dynamic Pricing tools

All short-term rental owners know they should be changing their prices based on demand. From holidays to festivals, the value of a place will rise and fall depending on the season. Yet the formula to use when setting the prices every day isn’t always clear.

Yes, you can charge more, but just how much more? Are you leaving money on the table by pricing too low, or is it better to have an underpriced property that was booked rather than an overpriced one that sat empty? These are not straightforward questions, no matter how much people wish they were. It’s why many owners rely on PriceLabs, a technology that cuts through the much to a clear-cut solutions.

What Is PriceLabs?

Rental management in Scottsdale, AZ starts with putting a heavy emphasis on fiscal information. PriceLabs is a platform that uses algorithms to set prices for short-term rentals. By crunching the data, they recommend prices based on supply and demand of the market — regardless of what’s happening in your area.

So whether it’s a boring Monday during off-season in a ski town or a multi-day concert event with hundreds of thousands of attendees, PriceLabs helps rental owners control their pricing strategy. It gives people total peace of mind that they’re not missing out on additional revenue.

Why Use It?

This isn’t the only site out there that offers these services, but it is one of the most versatile. PriceLabs works with major booking sites like Airbnb and VRBO. It’s updated automatically, so property owners can optimize their rates. The dashboards are easy to manage and there are a variety of helpful options to customize your experience. It’s also excellent for telling you more about the trends dominating your area. Many users of PriceLabs found this exceptionally helpful after the volatility of the pandemic.

Property Management in Scottsdale, AZ

Sojourn Property LLC uses PriceLabs because we’ve found that it maximizes our client’s profit margins. We are Airbnb management experts in Scottsdale, AZ who can take the pressure off so you can focus on the benefits of your investment and not the hassles. To learn more about what else we can do to protect what you’ve worked so hard for, contact us today.