Top 5 Short-Term Rental Pricing Tools

Dynamic pricing is an essential system to help you maximize profits and income for your short-term rental business. That’s why short-term rental pricing tools are handy for property owners looking to get ahead in their business. 

In this post, we’re going to take a look at some of the best pricing tools you can use to successfully implement dynamic pricing and set your rates accurately to ensure optimal occupancy and competitiveness.

1. Hospiria and Pricelabs - A Comprehensive, All-Round Solution

For larger property management companies, Pricelabs stands out as an excellent choice. Integrated into the Hospiria system, it offers a comprehensive interface for managing prices across various booking platforms. Beyond just dynamic pricing, Hospiria's integration with Pricelabs extends to invoicing, occupancy tracking, deposit management, and rate monitoring, making it a one-stop shop for property management.

Pricelabs empowers hosts to fully benefit from dynamic pricing while efficiently managing occupancy. With the ability to fine-tune pricing based on demand, local events, and competitor rates, property owners can ensure that their rental units remain competitive in the market. This tool provides the necessary data and insights to make informed decisions, and its seamless integration with Hospiria simplifies property management tasks, enhancing efficiency.

One of the key benefits of using Hospiria as your partner in short-term rental property management is that the platform can harness the insights provided by our Pricelabs integration to help you make informed decisions about your pricing. With the two softwares working seamlessly together, you’re bound to establish a successful business in the short-term rental world. 

2. Transparent by OTA Insight - A Wealth of Data and Insights

Transparent by OTA Insight offers multiple pricing plans, including Smart Rental Free, Smart Rental Pro ($240.25/month), and Transparent BI ($499/month). While its interface may be less intuitive compared to other tools, it compensates with its wealth of data and insights. 

This pricing tool excels in rental forecasting, helping hosts predict demand and set prices accordingly. The detailed booking platform analysis provides a comprehensive view of market dynamics while pricing distribution charts allow for precise rate adjustments. Hosts can gain an edge by analyzing top listings and competitor insights. Transparent is particularly valuable for hosts seeking to integrate dynamic pricing into their short-term rental business and stay ahead of seasonal market changes. 

The tool is ideal for those who are more experienced in the short-term rental business and who want to implement a pricing tool that’s more customized according to their specific market circumstances. 

3. Beyond - The Original Dynamic Pricing Tool

With a straightforward pricing structure of 1% per booking for your vacation rental, Beyond is an attractive option for short-term rental property owners. It integrates seamlessly with major property management software, including Airbnb, Booking.com, and Vrbo. There are also great integrations for other platforms, making this pricing tool a good option for anyone who has listings on various other systems. 

Beyond’s unique feature is the pricing health check, which allows hosts to assess their pricing's competitiveness within the local market. This makes it an excellent choice for hosts looking for a cost-effective and easy-to-use dynamic pricing solution. By constantly monitoring market rates and comparing them to your property's pricing, Beyond ensures that you remain competitive and maximize your revenue even through seasonal changes. In this way, it also helps ensure that your prices remain flexible enough to ensure you get the most out of your occupancy, minimizing vacant periods. 

4. Wheelhouse - Flexibility and Customization

Wheelhouse is favored by experts as the best pricing tool for integration into short-term rental property management systems, especially if your main listing platform is Airbnb. It's known for its high level of flexibility, making it ideal for newcomers to the short-term rental space or those with a small portfolio or single property.

This tool integrates seamlessly with Airbnb and other property booking platforms and offers hosts a multitude of customization options. Hosts can take advantage of pricing adjustments including Wheelhouse’s Base Price, Last-minute discounts, and Minimum Night Stay filters which they have integrated into their software. Advanced settings enable hosts to fine-tune their pricing strategy according to their long-term and short-term business goals. 

With Wheelhouse, property owners can have greater control over their pricing, ensuring that rates are not only competitive but also aligned with their unique business objectives. Pricing is not rigid and hosts can manually adjust their pricing while still using the market insights generated by Wheelhouse. 

In addition to its flexibility, Wheelhouse integrates with various popular property management system (PMS) providers, allowing hosts to streamline their operations and centralize management tasks.

5. Smart Rates by AirDNA - Free and User-Friendly

If you're an Airbnb host, Smart Rates by AirDNA is a top choice. It can also integrate with Vrbo and Booking.com if you use the Futurestay feature. This user-friendly tool leverages data from the Airbnb database to set prices and implement dynamic pricing strategies, offering hosts the flexibility to adjust prices according to their specific needs. Pricing suggestions are based on real-time market insights according to the prices and occupancy rates of other properties in your area. It is also fully flexible for hosts to adjust their rates according to what they believe is best. 

Smart Rates by AirDNA provides valuable insights into the current Airbnb market, enabling hosts to align their pricing with local trends. This free tool is an excellent starting point for those new to dynamic pricing and who want to expedite the process of researching the market and setting prices accordingly. Its simplicity and the fact that it uses data based on Airbnb's extensive database make it an accessible and effective choice for Airbnb hosts looking to optimize their rates and maximize occupancy. 

Which Short-term Rental Pricing Tool is Best For You? 

Dynamic pricing is not just a strategy but a fundamental necessity for short-term rental property management. Selecting the right pricing tool can significantly impact your property's performance, occupancy rates, and competitiveness within the market. 

Each of the tools discussed in this post caters to different host needs and preferences, empowering property owners, whether they are part of a large property management company or individual hosts, with the insights and features needed to excel in the dynamic world of short-term rentals. By choosing the tool that best aligns with your goals and property management style, you can maximize your profits and occupancy and ensure the long-term success of your short-term rental business.

Hospiria is your perfect partner when it comes to running your vacation rental property, as pricing insights are just one of the things we can offer thanks to our integration with Pricelabs. To maximize the success of your rental property, we also have mechanisms in place to ensure that your bookings and invoicing are all synchronized in one place, making us the ideal partner for your short-term rental business.