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PriceLabs

Revenue management & dynamic pricing for vacation rentals

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PriceLabs Reviews

User ratings

Overall rating

5.0

/5

110
100%
positive reviews
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9.73/10

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Pros and cons

Pros

Cons

Customer support is outstanding, including the ability to connect directly with the founders of the company and some of the key scientists on the team.

RB

Rudy B.

Customer service has been wonderful to work with any time I have a question, they are very quick to help.

GW

Gwynne W.

The ability to customize prices for certain seasons and the amount of flexibility with different pricing and minimum stays is fantastic.

GE

Gregory E.

It helped much last year during the first C-19 crisis.

RR

Renata R.

I was very skeptical paying money for service that I really didn't know much.

AV

Arturas V.

I also don't see much value in the marketplace dashboards. They are lacking more development.

BT

Brian T.

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110 reviews

Recommended

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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An easy way to gain detailed insight and control over your Airbnb pricing strategy

Reviewed a year ago

It's a good product. I wouldn't run my Airbnb listing without having PriceLabs bolted on the side.

Pros

PriceLabs is very comprehensive with regards to the information you can derive from the system and the granularity of control it offers to users. I use it to manage a single Airbnb property - however, it looks very well organised in terms of its capabilities to handle multiple properties and sales channels (other than Airbnb). Very easy integration with Airbnb - seemless, smooth, just works!

Cons

I can't think of anything that's a strong 'not to like'. The point that is interesting is that it draws to your attention just how much you do have to think through your pricing - so there's a chance that all the options could appear overwhelming - but that's not being critical of the software, it's just making it clear how much control you have (and should learn to use).

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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40% Revenue increase

Reviewed a month ago

Great experience overall and as soon as the billing thing is fixed your service will be perfect!

Pros

This software increased my revenue by 40%! I was able to set it up myself from the tutorials. All around great experience!

Cons

The Sync listings button should not be linked to your billing dept. Users need to toggle this button or re-link their listings sometimes when changes are made to our PMS. This should not cause a billing nightmare where we get double charged by the system.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend7/10

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Great in theory, UX can be a little confusing

Reviewed a year ago

Overall I'll continue to use it because I like the pricing algorithms, however I don't know if I see the value long term. Some of the pricing seems overboard (ex: $700 a night seems very high?). I wish it was more affordable or I'd have all 10 of my properties up with Pricelabs, but it adds up and I don't fully see the value quite yet.

Pros

I love the pricing algorithms that it uses comparing vacancies in the area, other pricing in the area, etc. I trust that these prices are on point with what the market is saying, and I'm getting the highest booking amounts vs when I used to price them myself.

Cons

It's confusing and not very user friendly. It's also extremely expensive if you have multiple listings. It doesn't seem very straight forward or easy to understand, so all I use is the basic pricing & synching, but notice all of the other features. They just seem confusing and not very straight forward. I'll continue to use it for a few more months just because the pricing is impressive, but I think it should be able to sync itself every 2 hours, not every 14 hours.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Pricing with Pricelabs

Reviewed 3 months ago

It is a great and useful piece of software. Integrates very well with my PMS and solves once and for all my pricing challenges.

Pros

The fast and easy way I can change my pricing strategy. The evaluation of my competitors performance. The integration with my PMS.

Cons

The fact I have to pay for Market Dashboards.

Overall Rating
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  • Likelihood to recommend10/10

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If you are serious about your short stay accommodation business, you need this software.

Reviewed a month ago

From the first month I used this software, I know it was a winner. It implemented pricing that was higher than I would of gone with but within days I knew I had been underselling our properties. I estimate the improved pricing in the first month of using this software paid for the full years subscription. The next problem I experimented with was "last minute" pricing. I was blown away with the level of control of this aspect and within a few weeks, we stated to get "back to back bookings" - something I could never of done without this software. I now have one property with a 96% occupancy rate. I can't wait to see what it can do with minimum night stays and those funny gaps that pop up now and then.

Pros

This is excellent software for one of the most important aspects of running your short stay business - getting the nightly price right. The software has some very clever "smarts" driving it and you are able to really drill down to get your pricing right. There is no way we could have taken the next step with our business without this software. I now consider this software as an employee of the business - one that works reviews every price for every property every day.

Cons

The software is being developed and improved all the time. It is a lot more sophisticated that I could be with pricing decisions so its really about my knowledge getting better rather than the software improving.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Makes us more money and automates a painful daily process

Reviewed a month ago

Working with Pricelabs for 2 years with 25+ properties. It has made us more money and automated a painful process. Couldn't be happier.

Pros

- Makes you more money from suggested prices is set right - Automates dynamic night stays - Adjust prices for you - Great value for the work done - Once it is set correctly, tweaking takes minutes weekly - Mobile works well

Cons

I am really happy with this service so it is hard to see a cons. I guess the only one would be for someone that is hoping for this software to set itself up, they would have trouble because it does require a bit of set up at first but you do have to go through in order to get the most out of it.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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PriceLabs is a no-brainer

Reviewed 17 days ago

It's great not to have to worry if I'm setting a good price or if I'm leaving money on the table. I don't have to predict which weekends might be super popular and which ones not, I just set up PriceLab, pay a very reasonable monthly fee and forget about it. Too easy.

Pros

Setup is very easy. At the beginning I went with recommended price levels based on other listings in my area and after a few months I adjusted to (only slightly higher) recommended settings based also upon the prices and occupancy I'd achieved over that period. There's a hell of a lot of detail there if you want to get into it, but just going with the defaults has given me a great result.

Cons

So far I've not seen a downside with this software. NB: I use only AirBnB. Integration is great, but I can't comment on other platforms platforms. Caveat emptor!

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Great product

Reviewed 17 days ago

Great overall for the past three years. I am growing my Buisness this year and hope pricelabs continues to better there product and reach in the industry.

Pros

Pricelabs keeps me competitive without a lot of effort on my part. I also really like when I get a high nightly rate because pricelabs adjusted due to high demands or events that I was unaware of.

Cons

I would like to push this pricing to a direct booking site but priclabs does not work with the app I would like to use.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Brand new AirBnB

Reviewed a month ago

I love it and tell all my Airbnb friends about it!

Pros

Pricelabs was easy to set up and link to my Airbnb account. It has a lot of features that I'm not totally sure about yet but the items I use are fabulous. I was unsure about the higher price per night but, I got booked at the higher rate! I am using the Market Dashboard to compare other Airbnb's in my neighborhood.

Cons

There are a lot of options to customize prices and I haven't learned them all yet.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Couldn't Run My Business Without It

Reviewed 6 days ago
Pros

The insights are incredible, and I have increased my gross revenue by 30%

Cons

Still cannot figure out how to set up comp sets. Wish I had a direct rep to ask questions to

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Skye Luxury Rentals Review of PriceLabs

Reviewed 4 months ago

Overall my experience with PriceLabs is a good one. As I grow and am onboarding new properties, it is allowing me to scale with ease and a bit of setup, but I am getting it down and in the future, I can see myself delegating this task to someone else on my team.

Pros

I use PriceLabs for years and I use it every day. It helps me tailor pricing for the many properties in my portfolio. I especially like the seasonal pricing feature where I can fine tune pricing per month for each of my properties.

Cons

Software is only as good as the user who sets it up. PriceLabs is very customizable, but it isn't perfect and doesn't know the markets as well as I do, so I find that I need to further tailor pricing for certain days more than it does as it can be off, but it helps to have a great baseline. The other biggest drawback with it, is it is complex the way I am using it, so took me over a year to learn it. I am grateful over for having the opportunity to use it.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Best Vacation Rental Pricing System Available

Reviewed a year ago

I am very pleased with PL overall. No complaints.

Pros

I have used competing systems and am very satisfied with PriceLabs. The level of customization is incredibly rich to the point that I can have a pricing strategy that leaves very little, if any money on the table. I am also very pleased with their pricing structure. They don't milk us on a percentage, but on a per unit rate, which comes out to a bit cheaper than the competing systems I have used in the past. The don't have phone support on demand, but are quick to respond to emails and can set up support calls with appointments. Very satisfied overall.

Cons

Due to the richness of the customization, there is a bit of a learning curve to figuring out how to best set everything up. As they have added features, the interface has gotten a bit cluttered. That said, once you understand how it all works, you have a very powerful tool in your hands. I also don't see much value in the marketplace dashboards. They are lacking more development. But the dashboards are not essential to the usefulness of the system as a whole.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Maximising Income Easily

Reviewed 2 years ago

Pricelabs have grown from being a good basic software package 5 years ago to a critical core of the way in which we price and operate our business.

Pros

I love the flexibility and feedback on how best to optimise our pricing, maximising our income. The visual red/orange/green indicators at a glance enable us to adjust our base price in line with market trends. Additionally I can tailor our pricing for local spikes in demand. Using the software now for 5 years nearly, I love the way new features are being developed and implemented.

Cons

PriceLabs is not the least expensive on the market although its functionality justifies the price.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Awesome tool

Reviewed 2 years ago

After you understand the software it is a great tool to use. Cuts back on hours and hours of manually comparing prices and making sure we are positioned adoringly regarding the competitors. However to start using the SW it would be great to have a PriceLabs person hear you and help you set your initial stagy and explain the how the SW "reads" your inputs to generate it's outputs. Highly recommend it

Pros

Rely rely helpful, to make sure yield the maximum revenue for each property. It is very flexible to customize to our harts content / location specifics. Information about expected occupancy in the town and "real" information about already booked occupation for each day forward. Rely easy to visually see in % how well we are doing in the future. This time frame is also customizable, so we chose, 7 day, 30 days and 90 day, to easily see if we are OVER selling (too cheap) our UNDER selling (to expensive). Integration with our PMS was very simple also.

Cons

- Sold night, do not display the "correct" value that the unit was sold at. - Color scheme of information displayed (bule "cold" used for higher occupancy) - Base percentage history are not real values, of our apartment this year versus last nor versus the town. It's an estimate of what we have versus the changes we make. But none of this portrays reality.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Best software for pricing vacation rentals!

Reviewed 2 years ago

Saves me a ton of time over manually adjusting pricing and availability. This is one of my favorite softwares for managing my vacation rentals.

Pros

• Pricing adjusts very well based on demand and it is obvious that prices for festival weekends, etc should be higher and the software does adjust for these events - some of which I don't even know are going on • Allows min and max prices and has a lot of customization of pricing possible • One of the best features is the ability to set customized availability as well as pricing. I can set a 2 night...

Cons

• Pricing is a bit higher than what I would pay on a different system I tried out but the features made it worthwhile.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Love this Dynamic Pricing Tool

Reviewed 6 months ago

I recommend PriceLabs hands down. I've used other tools and this is the one I like the most by far.

Pros

It is very easy to use and connect to their support PMS or even airbnb accounts. I love their multi calendar feature and that they support multi unit setup. The other dynamic pricing tools out there, do not support this. Also, their support is TOP NOTCH, can't say enough good things about them. They are super responsive, attentive, helpful, insightful, etc etc

Cons

Maybe the UI, even though it was improved recently, I think it lacks behind other players. It's not bad though

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Great software for STR occupancy pricing. Prices competitively

Reviewed 2 years ago

Overall software is great but their customer service is exceptional. They understand what str companies are going through with covid and are supporting us all the way. Thanks guys! You are awesome.

Pros

Easy to use and understand. Always improving and adding helpful elements

Cons

Wouldn't mind a few more specifc features.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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The best pricing software around!

Reviewed 2 years ago

PriceLabs is far better at setting prices for my vacation rental than the listing software's price tips, which are consistently low. While it took some time and study to learn how to set up my listing, once it was set up, it didn't need much watching. My income increased and my workload decreased. Customer service is very prompt and clear. It is definitely worth the price.

Pros

Using PriceLabs significantly increased my income from my vacation rental property. Also, while it is complex, once you understand all the options and get it set up, it pretty much runs itself and you only need to keep an eye on it, not do the heavy lifting.

Cons

While my income increased significantly, my prices kept going up (I was heavily booked) and eventually got to the point that my guests started giving me 4s on value. I had not set a maximum allowed price because I didn't think about that happening. Once I set a maximum price, I stopped getting dinged on value.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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All short term rental operators need dynamic pricing

Reviewed 2 years ago

Does its job well. It prices dynamically based on your custom rule set and historical data. It is not perfect and can be frustratingly slow when trying to make manual adjustments.

Pros

Uses historical data to set pricing for short term rental properties. During normal times this service saves a lot of time and maximizes profits. It has many rules allowing you to heavily customize pricing based on day of week, days in the future, and seasonality.

Cons

It doesn't sync pricing directly with VRBO which is one the top rental portals. The interface is slow when manually adjusting pricing. Syncing is limited to once every 5 minutes.

Overall Rating
  • Value for money
  • Ease of use
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  • Customer support
  • Likelihood to recommend10/10

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Great value and customer support

Reviewed 4 months ago
Pros

Have been using the service for about 2 years and find it instrumental in raising our rental revenue. Feature are complete and for the most part work really well. Customer support is outstanding, including the ability to connect directly with the founders of the company and some of the key scientists on the team.

Cons

I imagine the algorithm works really well in densely populated areas, but requires extra manual work to be effective in vacation destinations that don't have the concept of a neighborhood. Currently the automated process for establishing a comp set is a bit flawed; I would like to be able to define my own comp set to track market occupancy and drive rate calculations.

Overall Rating
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  • Ease of use
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  • Customer support
  • Likelihood to recommend10/10

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PriceLabs has increased our revenue by 200%.

Reviewed a year ago

The integration of dynamic pricing with PriceLabs has been a fantastic addition to our business, and resulted in a 200% increase in booking revenue this year. It's so darn easy, too, and integrated seamlessly with our vacation rental property management software (OwnerRez). Not only do we have such revenue increases to delight in, but PriceLabs also gave us the confidence in knowing we were pricing our own properties correctly, and the ability and confidence to price for others as a property manager. I highly recommend PriceLabs.

Pros

We integrated PriceLabs with our vacation rental listings during booking season for 2021, and were delighted with the ease of use and deployment, and of course the pricing approach and dramatic increase in revenue we've received as a result. We're not just comparing this year's revenue to 2020, which was an unusual year, but to previous years and to our future projections as an experienced vacation rental provider. With PriceLabs, we've seen our revenue increase by almost 200%, with pricing implemented at far higher rates than we would have expected (or dared) offer without the knowledge base behind PriceLabs, and the factual reality of reservation after reservation coming in at those market rates. I highly recommend the product and wish we would have implemented dynamic pricing years ago.

Cons

Honestly, I have very little to say that is a con for PriceLabs. Implementation was smooth, and adding new properties has been smooth. Whenever I've had a question or concern about new property suggested rates, the help documentation has answered my question on the first search. I don't even begrudge the price at all (I did before using the product; questioning if it was worth it, but the sheer reality of a 200% increase in revenue quickly put that concern to rest).

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Thank You PriceLabs

Reviewed 2 years ago

Really enjoy ease of use, great analytics and subscription price.

Pros

I am a very busy individual and am tasked with running four different businesses. The great tools from Analytics to Market Dashboards where I can compare Future Looking , LOS and Lead Time, Amenities and Policy and Fees of my competition at a glance is key to running a successful vacation rental business and PriceLabs has it all, plus.

Cons

The three different Menu listings at top of Software. Dynamic Pricing, Market Dashboards and Account. Seems clunky to me. Why not put them all in one menu option.

Overall Rating
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  • Ease of use
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  • Customer support
  • Likelihood to recommend10/10

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Customize pricing to automate daily management

Reviewed 6 months ago

Customer service has been wonderful to work with any time I have a question, they are very quick to help.

Pros

I have tried many dynamic pricing softwares and this one is the best for me. We have very different markets - some seasonal, some more weekend or weekday demand. This lets me customize in a way no other program has so that what is in my head knowing our markets, I can automate. It allows me to customize length of time to what I know is best, not a standard window of time length. By setting and forgetting I can check in if I want to but otherwise I know once it is inputted, I am covered. Automation is key and this one is the best. Also it syncs seamlessly with my channel manager so that pricing is updated on all my platforms.

Cons

I would love a mobile friendly app of price labs to check in if needed while on the go. The desktop version has become more user friendly.

Overall Rating
  • Value for money
  • Ease of use
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  • Customer support
  • Likelihood to recommend10/10

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Awesome Product & Great Service

Reviewed 3 years ago
Pros

Pricelabs increased my overall annual revenue!

Cons

It can be a bit pricey, still, feel its worth every penny!

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Best Pricing tool for your money

Reviewed 6 months ago

PriceLabs gives me complete peace of mind when it comes to maximizing revenue. I'm confident we are priced appropriately and not drifting too high or low with the help of the Market Occupancy comparison view on the first page. Couldn't be happier with the product.

Pros

With their latest release and UI improvements, PriceLabs is far and above the best pricing tool. Flat monthly rates and tons of customizations make this the tool of choice for any co-host manager.

Cons

I think there's a fairly steep learning curve when it comes to figuring out how to use Portfolio Analytics and Market Dashboards in a way that drives real decision making. The information is super interesting but I'm struggling to bake it into my weekly/monthly/quarterly pricing review process.