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Get It NowDetermining the perfect price to list your property on Vrbo involves considering various factors like Vrbo fees, occupancy rates, demand trends, and cleaning fees. But digging for and analyzing this data can be time-consuming. Luckily, there have been significant advancements to help vacation rental property owners with pricing decisions.
Instead of taking on the daunting task to track down and analyze all of this information to set your vacation rental pricing, utilize a pricing tool made specifically for Vrbo hosts: dynamic pricing from Beyond. It’s the best way to not only determine the right price for your property, but to also maximize revenue, increase occupancy levels, and put time back in your day. Let’s take a look at how dynamic pricing works.
Dynamic pricing takes all of the guesswork out of pricing and helps you get booked at the best price, at the best time. Beyond uses a dynamic pricing algorithm that automatically prices your properties to maximize daily rates and keeps your occupancy at ideal levels. There are thousands of factors that can be used to determine demand on any given day, but Beyond and our team of expert revenue managers have identified the top factors that consistently prove to make you the most money and match demand.
Dynamic pricing uses an algorithm that takes away the tedious guesswork, uncertainty, and stress caused by static pricing. The algorithm has the ability to meet demand where it’s at - automatically increasing or decreasing the price of your Vrbo listing based on historical and real-time data, all done on a daily basis. Plus, Beyond’s dynamic pricing platform includes free access to comprehensive data about your local markets & competitors so that you can expertly understand your market and outshine your competition.
It all starts with the Base Price. The Base Price is the starting point for price fluctuations – think of it as the average price for your Vrbo listing for the year. When new Beyond users set up their accounts and connect their Vrbo listings, an initial Base Price will be set automatically. This is just a reference point to get Vrbo hosts started, and they can adjust their Base Price at any time.
1. Your market's seasonality trends
To get the correct seasonality pricing, Beyond looks at seasonal trends and fluctuations going back 6+ years. We factor in this seasonal trend for every hyper-local area, which determines when and to what extent we increase prices for high, shoulder, and low seasons.
2. Demand trends for day of the week
Understanding the difference in demand for mid-week versus a weekend day is also crucial to correctly setting prices for your Vrbo listing. In a city, for example:
All of these factors need to be taken into consideration to get the right daily price. And because days of the week are not a constant indicator of demand, and depend on the time of year, Beyond also analyzes on a seasonal basis, not a static one.
3. Events and holidays that spike demand for vacation rentals
Events tend to be the hardest to price correctly and therefore deserve the most attention. On the one hand, events can create peak demand in many markets and are the best times to maximize earnings. On the other hand, big events in your market might lead to increase in supply and therefore increased competition in your market. Because of the ever-changing demand and supply for events, we recommend using Beyond so you can ensure that you are always the most competitively priced host or property manager in your neighborhood.
Vrbo hosts should also take into consider these tips when it comes to pricing their listings:
Ready to get started using dynamic pricing for your Vrbo listings? Get started with Beyond today and claim your free credit!
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