Dynamic Pricing for Vacation Rental

Perfect Price pioneered dynamic pricing using artificial intelligence (AI), and we’re excited to bring that knowledge and expertise to the Vacation Rental market.

Perfect Price expands on the expertise of a Property Manager to deliver excellence for more properties with less effort. We augment the pricing workflow for property managers, giving them the tools to succeed, and not just a black box. With Perfect Price, we help implement your strategy!

What can Perfect Price do for Vacation Rental?

Perfect Price is a powerful new tool for Vacation Rental property managers to find the right balance of automation and control for pricing short-term rentals. Other software providers have attempted to enforce rules about prices for years, and though these rules provide some control, with increased complexity they often breakdown. This is particularly true with short-term rentals, as critical information is changing every day instead of only once or twice a season. That’s where AI comes in. Artificial Intelligence can juggle that added complexity, incorporating different strategies, and expanding with the ever-changing market property managers are now exposed to.

Additionally, Perfect Price enables property managers to maintain the service and control landlords ask for. Not all properties are the same and Perfect Price is flexible to let the professional property manager manage each scenario differently and efficiently. This means not only with pricing – but also to free up time to address other client’s needs.

Why are we committed to Vacation Rental?

We are a team of growth-mindset people, obsessed with data science and optimizing complex problems. That’s what brought us into tech and specifically into pricing, and the Vacation Rental market really needs a great solution to this problem.

As you well know, Vacation Rental is in a state of rapid change. For one thing, an estimated 50% of property managers use Airbnb as of 2017, up from about 10% in 2012. There are now over 3 million Airbnb properties in the US and 7 million globally – up from zero ten years ago.

The emergence of new channels, growth, and consolidation are creating a volatile mix of risk and opportunity. With the entry of tech-enabled property managers and the beginnings of multifamily owners testing the market, property managers have to contend with more information about market rates, customer demand, and other factors that influence their ability to deliver for their property owners. Checking and knowing the specifics for each property is no longer possible and property managers run the risk of over or under pricing all their properties – costing their owners money, and themselves clients.

But aren’t there are other pricing tools available?

We have a lot of respect for the other pricing tools in the space and know that hundreds of property managers benefit from them. But every property manager’s needs are different, and that’s why we feel the need to provide a solution that helps property managers put their industry knowledge to work (with a little help from AI). Our product’s focus is on professionals, and we have designed our offering to appeal to their needs specifically.

How are we different?

First, we believe in fair pricing. We never take a percentage of revenue — that’s your hard work – we’re just a software company with a great tool. You don’t see Milwaukee or Dewalt tools taking a cut of your home's sales price, no matter how important they were to the success of the build. Neither will we.

Second, our software is designed to enhance – not replace – your decision making. It enables you to execute your strategy, better and faster. Sure, if you don’t have a strategy, it can help you arrive at one – but our best customers are already great at what they do. We help make them even better!

Finally, we bring truly enterprise-level AI capabilities to the problem. Sometimes it's like having a fighter plane in a knife fight – but sometimes it really makes a difference.

Interested in learning more? Connect with one of our expert pricing strategists, and we’ll get you started with a trial, so you can see the difference for yourself!

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