I currently manage more than 300 Short Term Rentals through Pricelabs RMS. I've learned a lot with the daily cases.
I will be sharing my learnings and tips for STR owners, stay tuned.
Don鈥檛 be this person
Take action and put a plan in motion. Don鈥檛 be the one who just complains and does nothing about their circumstances
If you had 100x the agency, what would you be doing right now?
Today a client asked something else was happening to his listing other than pricing.
We checked many parts: Listing quality, content, first 5 photos, reviews. All ok
After checking the compset we confirmed: we had to update the pricing.
Stop doing this for 30 days:
Discounting because a night looks empty
Copying last year's price
Ignoring your comp set
Treating every guest inquiry as urgent
Setting minimums once and forgetting them
Your ADR will thank you.
For the next 90 days, run your pricing like a revenue manager:
No panic discounts
No static minimums
Adjust LOS by season, not habit
Check pacing weekly
Let empty nights sit if the price is right