What is Dynamic Pricing?
Knowing what to charge for your rental property on Airbnb or any other platform can be a complex challenge for many hosts.
It's a time-consuming process and will depend upon your end-goal of maximising revenue or bookings
It's important to remember that pricing tools are not necessarily designed to make you more money. Put simply, they are used to optimise your competitive pricing levels to, in turn, maximise booking potential and occupancy levels.
Smart Pricing on Airbnb
What is Airbnb Smart Pricing?
Why many property managers don't like it
Opposition mainly focuses on how low suggested rates are.
How to activate Smart Pricing on Airbnb
- Login into your Airbnb Hosting dashboard
- Select your Listing
- Select Manage listing for your listing
- Click Pricing at the top of the page
- Next to Nightly price, click Edit
- Next to Smart pricing, click the circle to turn on smart pricing
- Enter a minimum and maximum price
- Click Save
Other Airbnb Pricing Tools
There are several free and paid pricing tools for Airbnb vacation rental properties and other on the market including Beyond Pricing, Eliot, Outswitch, PriceLabs, Super Host Tools, Vayoo and Wheelhouse.
Here we will focus on one, Vayoo.
Other OTAs / Listing Site Pricing Tools
Aside from Airbnb, other major OTAs have also developed and integrated their own pricing tools.
