Dynamic Pricing and Availability
Maximizing Your Profitability
The questions most often asked are, “What nightly rate should I charge for my property and how much can I make?” When most people think of pricing, they typically think of one set price or a high and low season rate. The truth is, setting the right price for your listing is Dynamic! Consumer demand for your property is always changing, and your pricing should adapt accordingly. There are so many factors that can impact pricing for your property that we can’t possibly list them all, but here are some major factors:
Find out how much your property could earn! Speak with our local vacation rental experts and get the insight you need to be successful!
- Seasonal Demand– Seasonal demand is more than a busy or slow season. There are peaks and valleys of demand within each season that always fluctuate. Our market experts paired with dynamic pricing and availability, update your listing rates and booking practices daily to optimize listing performance.
- Day of the week- Yes, even each day of the week has a unique demand! That’s 365 days individual days that receive a unique rate designed to optimize occupancy and revenue.
- Market Demand– The number of travelers to any specific property or region is always changing, and so is the number of available properties. With dynamic pricing, our market experts update your rates daily according to seasonal demand, local demand, day of the week, major events, and more. We’re even able to track the performance and rates of your property, compared to the performance and rates of properties around you! This allows us to keep your rates up to date with what’s happening in the market, maximizing your earning potential.
- Availability– Listing availability can impact your rates! Dynamic availability allows us to adjust your listing availability according to market demand, with consideration to any state and county regulations. So what is Dynamic availability? I’m glad you asked! Dynamic availability means setting minimum nightly stay requirements according to demand and restricting check-in or check-out dates to avoid hard-to-fill, or unfillable gaps. Dynamic availability can optimize revenue and minimize wear and tear on your property.
- Competition– The vacation rental industry is growing! The number of available properties in your area can greatly impact your rates, especially if the number of available properties exceeds the demand by travelers. We keep track of market demand, and your listing competition to ensure your listing is priced appropriately at all times.
- Amenities– Amenities like pools, hot tubs, direct or partial views of beaches, mountains, lakes, and rivers… these are all things that can greatly impact your nightly rate.
- Staging and Design– Staging and design can impact your pricing and user engagement with your listing. An eye-catching, well-designed home, furnished to maximize comfort and function impacts listing performance.
- Listing Photos- Professional photography and videography are a must! Trust us, your cell phone photos aren’t cutting it.
- Listing Exposure- We maximize listing exposure by ensuring your property is listed on multiple booking sites like Airbnb, VRBO, Expedia, Google Vacation Rentals, Booking .com, Marriott Homes & Villas, and our direct booking website. Increased listing exposure boosts occupancy. If your property isn’t listed everywhere, listing performance will be impacted.
- Reviews- Everyone knows reviews are important. What you may not know, is major booking sites are always looking for ways to increase guest satisfaction to travelers on their websites. Properties with great reviews show up higher in traveler search results. The opposite is also true, the lower your rating, the further down in search results your property will appear. You don’t want to end up on page 12 of the search results, so it’s best to maintain positive ratings. Reviews are based on ease of communication, easy check-in process, cleanliness, location, value, and listing accuracy. Our 24-hour live agent guest support and detailed digital property guides increase guest satisfaction and experience by ensuring guests have the information and support needed.
- User Engagement- Another important factor in your listing’s success is traveler engagement. How many people click, book, and save your listing can impact where your property ranks in search results. Ensuring your property is well presented, has positive reviews, and has popular amenities or features that travelers search for impacts your user engagement and listing performance.
- Property Type- Certain properties with popular amenities and features can receive an automatic boost in exposure. Talk with a BnB Pro Host market expert to learn which property types and features perform best in your area.
Find out if your vacation rental is performing at its best, and see if making a switch to BnB Pro Host is right for you. Let our vacation rental experts analyze your listing, and find out what factors are impacting your properties performance, ratings, and total earning potential.