PriceLabs Dynamic Pricing vs. Airbnb Cleaning Fees (Episode 321)

2024 Dynamic Pricing Update: PriceLabs vs. Airbnb

Today’s expert guest is Monique DeLorenzo, a host who was eager to dive deeper into the financials of our great industry. In addition to hosting her cute Vermont a-frame property, she’s also a solutions consultant with PriceLabs, a revenue management tool for hosts and property managers that provides users with dynamic pricing and market insights.

We use PriceLabs and were inspired to email Monique as soon as the Airbnb winter release became public, to see if she had any insight on the cleaning fee changes and how one might best leverage our new parameters in that area to maintain, or even boost, revenue.

She covers that and so much more in this super deep dive on dynamic pricing. You don’t want to miss this one as you set your goals and expectations for the new year and beyond. 

(00:01:22) #STRShareSunday: @littlecoveaframe

  • A creative alternative to bunk beds
  • Tasteful example of design and photography

(00:03:37) (Re)Introducing Monique DeLorenzo 

(00:16:34) Singing the Praises of Dynamic Pricing

  • Reap benefits without needing to be an expert 
  • ROI on a $20 monthly digital service 

(00:19:55) Update on Airbnb Platform Changes

  • Monique’s POV on cleaning fees 
  • Difference in cleaning STRs vs. hotels
  • New PriceLabs tool: Market Dashboards
  • Other important data points to track 
  • PriceLabs vs. Airbnb’s new neighbor pricing tool

(00:27:29) Common Pricing Mistakes that Hosts Make

  • Overcharging or undercharging
  • Not being aware of neighborhood data 
  • Understanding   high and low seasons
  • Dynamic minimum night stays 
  • Annette and Sarah share early pricing mistakes 
  • Applying old school economics 

(00:34:14) PriceLabs vs. Airbnb Smart Pricing

  • Airbnb is looking out for themselves
  • Time investment needed to set up dynamic pricing 
  • Day-to-day dynamic pricing management 
  • Catch Monique on a PriceLabs webinar 

(00:40:50) Final Word on Airbnb Cleaning Fees

  • How to offset cleaning fees with dynamic pricing software
  • Monique shares a math trick to remember

Download a transcript of this episode.

Resources:

#STRShareSunday

@littlecoveaframe

Check out what the hosts of this incredible a-frame did with their loft area; it is just genius. We love the built-in sleeping nooks (and bet their cleaning team does, too!). The space also has a projector screen for cozy movie nights, a fun and creative quirk that’s sure to delight families and kids. Overall, these new hosts get top marks for aesthetics, design, and photography – keep killing it on the visuals, Mary-Kevin, Patrick, and Avery!

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!

Together, Annette & Sarah are the dynamic duo behind the wildly popular podcast Thanks For Visiting, co-creators of the Hosting Business Mastery Method, & seasoned short-term-rental hosts.

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