Felix Automation Spotlight: Dynamic Rates & Pricing Strategy
One of the most common questions we get from our clients is “how do I set the right pricing strategy for my properties?” The short answer: PriceLabs. Dynamic rates and pricing strategy are essential to any successful short-term rental business.
Static rates and the lack of a robust pricing strategy can price-out your short term rentals and prevent you from maximising revenue. Felix and PriceLabs not only provide you with an automated pricing strategy that efficiently manages your portfolio, we also provide you with the ‘how’ and ‘why’ to arm you with the information you need to show to your owners and get them on your side when it comes to effective rate management. Dynamic rates & pricing strategy wins every time.
PriceLabs – in conjunction with Felix’s experienced insight – will provide your portfolio with:
Dynamic Data Driven Pricing: Automated rate updates based on market data and your listings performance. Taken into consideration are base prices, seasonality, day of week tends, lead time adjustments and holiday/event pricing adjustments.
Custom Rules: If your rentals differ from the market or if you have particular strategies in mind, maintain complete control of your pricing using a comprehensive range of customisations. Customisations can include minimum prices, last minute adjustments, orphan day prices, day or week pricing & occupancy based adjustments.
Dynamic Minimum Stays: Each listing’s availability can be optimised using dynamic min-stays. With considerations including weekend vs weekday restrictions, last minute stays, far out stays and orphan gap fillers.
Real-time Analytics & Market Dashboards: Portfolio Analytics is a real-time reporting system for property managers that provides high-level metrics about their portfolio, such as monthly revenue or length of stay data: an incredibly powerful tool when presenting to owners. Market Dashboards provide succinct information on current trends, and provide full listing data by bedroom count, location and much more. You will have all the data you need to set the perfect pricing strategy for your rental environment.
Most importantly, PriceLabs is seamlessly integrated with Felix short term automation rental software. Once your strategy has been set, rates and rules are pushed through automatically to your content listings across all channels. Goodbye to manual adjustments and worries over pricing. Felix will work with you periodically to review your pricing strategy and adjust where needed. Our dynamic rates and pricing solution is just another way of how Felix short term rental software is empowering short term rental property managers and giving them back their balance.
Contact us to learn more about dynamic pricing and how it can benefit your short-term rental business today.