The complete guide to Airbnb pricing tools
In June, Airbnb unveiled the science behind “Aerosolve” – the Price Tips recommendation tool baked into the house-sharing host’s dashboard. The concept is simple — take into account market conditions such as season and availability of other Airbnb rentals in the area along with other factors in order to determine pricing. But if you’re on the lookout for more options, flexibility, and – let’s just get this one out there – more cash, there are an array of automatic pricing tools available with the sole aim of making your rental more profitable. Here’s the lowdown on what’s currently out there:
Everbooked
Everbooked’s Nightly Pricing tool looks at local events, nightly occupancy at hotels and other local Airbnb rentals, as well as seasonal travel patterns and other factors to determine how your listing should be priced. The company’s new Comparable Listings Tool offers a peek into what your home-sharing competitors in your area are making in order to set pricing.
Everbooked CEO David Ordal told Road Warrior Voices:
"We have the only service that helps hosts determine both parts of the pricing equation: how to vary prices each night, as well as what to charge in the first place! Our new comps tool lets you see what your neighbors are making, and so you can figure out how to price your place."
Everbooked currently works with Airbnb only, and there's a free trial for the first month, then a fee of 1% of your gross revenue after that.
Beyond Pricing
Beyond Pricing is one of the few tools to offer coverage outside North America, with markets in Europe, Asia, the Middle East and Australia in addition to the United States and Canada, available with its pricing tool. Each listing is given a “Health Score” – price too low or too high and your score goes down. Users can also turn on automatic pricing and let the tool do the heavy lifting when it comes to the math. There’s a free trial for the first month, then 1% of booking revenue is billed to users at the end of each month.
PriceMethod
PriceMethod claims it can help landlords make up to 40% more with their rental property. Its pricing tool shows big events within the pricing calendar, so hosts can easily see what’s driving demand spikes, and it allows hosts to price a single day, a singe event, or their entire calendar with one easy click. The service works with listings for Airbnb, VRBO, and HomeAway and it's currently live in 60+ markets in the United States. PriceMethod’s service is also free for the time being.
PriceLabs
Although PriceLabs doesn’t appear to take special events into account in its pricing tool (and it doesn't appear to offer what its monthly pricing is either), it’s the only one that works just about anywhere — its website claims “we are available at most places on planet Earth.” The interface also gives users the ability to get a peek at the competition with neighborhood occupancy rates and local demand info.
SmartHost
Instead of having to log into the interface, SmartHost users can opt to receive a weekly email alert with pricing changes in their area up to 365 days in advance. SmartHost is $19 per month per listing, and applications take up to 36 hours for review. The service currently works with Airbnb and HomeAway only.
BriteYield
Brand new on the pricing tool front, BriteYield describes itself as “a cloud-based, big data service providing vacation rental agencies with the ability to automate property pricing and optimize rental revenues.” It’s in full start-up mode, so it’s currently only collecting emails to let users know when it goes live. No pricing info is available yet, but the service will work with Airbnb, VRBO, HomeAway, and FlipKey rentals.