How to Optimize Your Property Listings with PriceLabs

One of the main questions we get asked by customers is how often should I log in, how much should I be looking at the tool, and where should I be looking. Here's a step-by-step guide to help you optimize your property listings using PriceLabs.

Step 1: Check Your Pricing Dashboard

• Log in to PriceLabs and navigate to your pricing dashboard.

• Identify the property that needs the most attention. For example, properties with no occupancy.

Step 2: Review Prices

• Click on "Review Prices" to load your current pricing data.

• Ensure you click "Save and Refresh" to update your data with the latest reservations from your property management system or Airbnb.

Step 3: Analyze Your Calendar

• Look at your calendar to identify any periods with no bookings.

• Consider what changes you could make to stand out from the competition.

Step 4: Check Your Base Price

• Use the "Help Me Choose My Base Price" feature in PriceLabs.

• Review the recommended base price and adjust if necessary.

Step 5: Analyze Neighborhood Data

• Navigate to the "Neighborhood Data" tab to compare your future prices and occupancy with the market.

• Identify any discrepancies in pricing or occupancy compared to the market.

Step 6: Adjust Pricing and Minimum Stay

• If your pricing is low but bookings are not coming in, consider adjusting your base price or minimum stay requirements.

• For example, reduce your minimum stay from four nights to three nights to increase booking chances.

Step 7: Monitor Changes

• After making adjustments, monitor the changes over the weekend or a set period.

• Check if the adjustments triggered any bookings.

Step 8: Address Distribution Issues

• If bookings do not improve, consider potential distribution issues with OTAs like Airbnb, Vrbo, or Booking.com.

• Make necessary adjustments to trigger bookings on these platforms.

By following these steps, you can effectively manage and optimize your property listings using PriceLabs, ensuring better occupancy and revenue.