PriceLabs Reviews

Worth Every Penny

Pros:

My property management software let me set up basic perimeters, but nothing like the powerful tools PriceLabs provides. Once it's set up it updates my rates daily, something I could not do with multiple properties to manage,

Cons:

Not really a con, but there is so much market data they can provide that I still haven't 100% learned how to utilize it all to its full potential.

The best investment in my Holiday Let by far

Comments: An extremely good service, from the quick responses to my questions and queries via email, to booking 30 minutes teams calls to screen share my PriceLabs and go through all my questions and problems. My bookings have gone up drastically at one of my properties to almost 100% occupancy rate, I won't go without pricelabs on any of my holiday let's now

Pros:

The support is tremendous, I really enjoy how quickly and thoroughly you guys reply. The product itself needs nothing in my opinion.

Cons:

I do find all of the different setting hard to use, but I guess that's just comes with spending more time on it.

Worthless

Comments: Horrible

Pros:

There is no pro for us. It was completely worthless. We gave it over 6 months. When it was costing us money we dropped it.

Cons:

This product did nothing for our rental business. We understood how to use the tool, it was not difficult to use. It just does not work well. Their customer support was non-existent.

Critical automation for vacation rental pricing

Comments: PriceLabs has worked well and is an integral part of our short term rental business.

Pros:

PriceLabs automatically monitors hotel and vacation rental pricing, suggests the best price for my units, and updates them across my vacation rental marketing platforms. It catches changes in market demand before a human can. Having a tool like PriceLabs allows me to maximize my revenue with minimal effort.

Cons:

There are so many options for customization that the user interface felt overwhelming at first. That said, PriceLabs does a good job of explaining each feature and getting you over the learning curve in a self-serve way.

The best dynamic pricing software for your rental property

Pros:

The information it provides me about everything on my market to help me choose my base price maximizing the revenue I earn from my property

Cons:

Sincerely I can’t think of a thing I don’t like about Price Labs,

Great for revenue management of STRs

Pros:

PriceLabs was one of the very first softwares I incorporated into my business. I manage my own STRs and it has been instrumental in helping me automate my pricing. With PriceLabs, I've been able to achieve a high ADR and occupancy. Very organized and user friendly UI that's easy and intuitive. The customer service is also fantastic! I always get a response within 24 hours with a super detailed and helpful answer. An essential tool for all STR self managers!

Cons:

I sometimes find myself having to manually fine tune and update the prices for certain dates because PriceLabs isn't accurate.

Alternatives Considered: Wheelhouse

Amazing tool to maximise your revenue

Comments: Great idea and great service, I can sit back and let the software do the work for me. in the first year I used Price labs, I returned a 20% uplift on my overall nightly price over the 6 month season that I open for business. Think that speaks for itself!!

Pros:

It saves me best guessing the prices for my accommodation and gets me the best returns

Cons:

the complicated looking graphs that are designed to help you understand the markets. Even with the newly added AI options, I still have no idea what it all means

Must have if you in Short Term Rental business

Comments: All I can say is that I wish I knew about price labs when I started in business five years ago it would save me a lot of time and most likely I would make more money

Pros:

Automatic price adjustments and great customer service

Cons:

There is really nothing to not like except when you’re not really web savvy it takes a while to learn the platform

Pricelabs is the best part of my tech stack!

Comments: Pricelabs has the capacity to manage very minute details of pricing strategy, and open up your calendar for multiple years based on market competition. The market dashboards allows me to analyze the market and make educated moves based on those projections, and there is projection sheets now for specific properties.

Pros:

Pricelabs is incredible and it gets better every day!

Cons:

Steep learning curve, but the revenue management industry is.

Beat your AirBnb Competition

Comments: We find PriceLabs a handy tool to have to stay ahead of the competition.

Pros:

The ability to manage the prices of our AirBnb properties across multiple platforms, this keeps us ahead of the competition in a very saturated market.

Cons:

One drawback of PriceLabs is that if you're managing a lot of properties, setting up and managing pricing rules for each one can get complicated and take up a lot of time.

Necessary Tool for Rentals

Pros:

PriceLabs makes it easy to ensure your rentals are priced correctly across the board that balances the best price with the best deal. We've seen an increase in bookings with PriceLabs monitoring rates daily.

Cons:

It can be tricky figuring out how to manage black out dates and forced pricing, but once you get it, it's pretty easy.

Jason's Review

Pros:

It's intuitive to use and provides dynamic pricing comparing to the local market

Cons:

I wish I understood how to use the neighborhood tab so I got useful info from it

Helped Increase Revenue

Comments: Excellent.

Pros:

The amount of data given and ease of use is incredible with PriceLabs. I can stay on top of what everyone else in my market is doing. I am able to set a plan for dynamic pricing that changes day to day depending on when people book and what the market is doing. I can capture more revenue from people booking far out as well as grab last minute bookings because I have set it up to drop my prices the closer the booking date is to the arrival date.

Cons:

It can be a little time consuming when you first start. There is a lot to learn, but there are many helpful tutorials.

Great Product

Comments: great

Pros:

Easy to use, not expensive, clear layout

Cons:

some functionality is not intuitive, overlapping discounts

Make more money than you thought!

Comments: I was surprised at how much they priced some of our nights for and they actually rented for that, which was almost double what we were getting on some nights!

Pros:

I was very surprised how manny criteria they used to determine our prices.

Cons:

I wish it was a little more affordable.

complex, but technical

Comments: good,

Pros:

granular pricing ability - able to adjust tiny factors and add in orphan days

Cons:

selection of compared property types - hotels and self catering are different beasts

Essential for your short term rental business.

Comments: Excellent. Highly recommended. It’s complex but support are on hand to assist you.

Pros:

Allowing you to compete with the big hotels at an affordable price.

Cons:

The data is using airbnb and VRBO which doesn’t offer as much fidelity if a lot of your bookings come via Booking .com. However, I think this is being addressed in the near future.

Alternatives Considered: Wheelhouse

Reasons for Choosing PriceLabs: Switched Channel Managers

Reasons for Switching to PriceLabs: User experience

How to bring in more $ then your competitors

Comments: We know where we need to be to pick up rentals when the occupancy level is really low. We can maximize our revenue to make sure we are staying above the rest.

Pros:

There is more data than you know what to do with but you can hone in what matters most to you and your market and stay one step ahead by pricing yourself where you need to be to get the days that would go vacant otherwise.Being able to see the other rentals in our area and there revenues and mirroring their pricing to maximize our profits has been a game changer.

Cons:

There are times when you can get to a point of analysis paralysis with all the different options but if you stay practical and don't try to overthink it you can get what you really need to make a difference in your revenue.

Key to scaling revenue

Comments: Increased revenue

Pros:

Market Analytics and geographic reports that download into reports with listing links.

Cons:

Sometimes the formulas can get complicated and difficult to interpret the final price

Wonderful tool

Pros:

The fact that optimizes my rental property to the maximum in terms of occupancy and pricing.

Cons:

Nothing to point out at the moment. It's great!

Only for Price changes

Comments: As I used Pricelabs to manage more than 1000 apartments at the same time, it was very good with the possibility of grouping room types in the same price category, but the lack of other tools is very noticeable and hindered the analyzes and controls, which needed other complementary systems.

Pros:

The possibility of creating different levels of increase or decrease in price, based on the user's free decision, is very interesting when you want to price differently for each occupancy level. Also it's nice to have possibility of grouping room types in the same price category.

Cons:

I think the system is very simple, with no possibility of applying strategies such as minimum nights, entry and exit restrictions, discounts according to the number of guests, etc. This makes Revenue management very difficult, which needs to be complemented by other tools. Also, there are no suggestions or market research within the platform. All price optimization is based on the user's own management and choice, and we don't have historical reports or price changes, which makes it difficult to control.

very good value for money

Pros:

It has risen my revenue by 30% at least.

Cons:

loading time is sometimes long and I have to reload site

All good so far

Pros:

Ease of use and understanding. I love it

Cons:

Performance analysis seems not track bookings from other platforms and so skews the true picture

Into the future of Vacation Rentals with Price Labs

Comments: Great. In my role in getting new properties in to our portfolio it allows me to present unbias and market related data over just our internal data. It also helps me show what the market place is like to owners, enabling them to make the best decision for themselves. It has been a game changer and I look forward to the product being improved and adding features in the near future.

Pros:

It has changed the way we price, project and even view our properties' performance.

Cons:

I know it is hard, but th revenue figures can be way out at times. I have looked at our own properties on the system and the variance can be quite big. However, that is generally down to dates being blocked or high owner use.

Good service great report

Comments: - price fixing according to demand- revenue increase- strategies correction according to market

Pros:

Pricelabs is easy to implement the baiscs and the results appear very quickly.The support is of high quality and fairness!The constant webinars to explain in detail the features.I highly recommend pricelabs to increase the revenue results.30 days trial

Cons:

The high complexity of some features. In my opinion, it's hard to use pricelabs 100%...