As a vacation rental host, one of your primary goals is to maximize your rental income. However, determining the optimal price for your property can be a challenging task, especially considering the ever-changing market dynamics. This is where Beyond Pricing comes in. In this blog post, we will explore how Beyond Pricing can help you optimize your rental income and make the most of your vacation rental property.
What is Beyond ?
Beyond (formerly Beyond Pricing) is a revenue management solution for vacation rental managers and owners to get, grow, and keep revenue.
We offer a dynamic, demand-driven pricing tool with extensive market data that pairs with OTA distribution like Airbnb, Vrbo, Booking . com and our best-in-class booking engine. We can also forecast revenue and maximize your earnings with our local market experts.
We help thousands of property managers and property owners get the most out of their listings. To date, we have supported over 340,000 properties in more than 7,500 cities worldwide.
Beyond is a cloud-based dynamic pricing tool for vacation rental owners and property managers. It enables users to define the suitable price for their properties using analytics, user statistics and algorithms. Property managers and owners can manage their accounts and data through a centralized dashboard. Beyond generates reports and helps property owners optimize pricing for a specific property. Other features include comp sets, search data visualization, customizable branding, map search, review tracking, reservations, and more.
How does Beyond Pricing work?
Beyond Pricing uses a combination of historical and real-time data to generate accurate pricing recommendations. It takes into account factors such as location, property size, amenities, and local market trends to determine the best price for your rental. The tool continuously monitors market conditions and automatically adjusts your prices to maximize your rental income.
To determine your daily rates, they analyse over a billion data points a day, looking at factors that influence demand in your market including Seasonality, Day of the Week and Local Events. All rates fluctuate around the Base Price you set for your listing in Beyond Pricing. After their algorithm creates a competitive daily rate for up to 12 months into the future, they then push their price recommendations directly to SuperControl and OTAs.
Who uses Beyond Pricing?
Beyond Pricing started as a property management solution in the San Francisco region, but soon found that a dynamic pricing tool for the holiday rental industry simply didn’t exist. For that reason, they launched the first integration to update rates daily onto Airbnb. Since then, they’ve grown to over 7,000 markets worldwide, pricing over 250,000 listings. Beyond Pricing is used by all types of holiday rental owners, from individuals managing one property through to large letting agencies managing hundreds.
Beyond Pricing can now price every short term rental in the United Kingdom and Ireland! From the lighthouses in Plymouth to the distilleries in Inverness to the hills of Galway, Beyond Pricing’s revenue management solutions stand ready.
UK and Ireland are the first major countries with complete pricing coverage! With Beyond Pricing’s access to a meaningful volume of market data as well as a keen understanding of local events and trends, you can be sure your prices will be the most responsive and optimised.
Benefits of using Beyond Pricing:
1. Optimal Pricing: Beyond Pricing takes the guesswork out of setting rental prices. By analyzing market trends and demand patterns, it ensures that you are charging the right price at all times. This helps you maximize your rental income and stay competitive in the market.
2. Time-saving: Manually adjusting rental prices can be a time-consuming task. Beyond Pricing automates this process, saving you valuable time and effort. You can focus on other aspects of managing your vacation rental property while Beyond Pricing takes care of the pricing optimization.
3. Increased Occupancy: By setting the optimal price for your rental, Beyond Pricing helps attract more guests and increase occupancy rates. This leads to higher rental income and a better return on your investment.
4. Competitive Edge: With Beyond Pricing, you gain a competitive edge in the vacation rental market. By offering competitive prices based on market demand, you are more likely to attract guests and stand out from the competition.
Competitive Edge:
By using Beyond Pricing, you gain a competitive edge in the market. The platform’s sophisticated algorithms ensure that your property’s pricing is always optimized to attract bookings. You can stay ahead of your competitors by adjusting your rates in real-time based on market trends and demand fluctuations. This helps you secure more bookings and increase your revenue compared to hosts who rely on fixed pricing.
Best daily rates for your accommodation, automatically
Beyond analyzes billions of traveler search data points to ensure your rental prices are competitive.
With Beyond, short-term rental managers increase nightly revenue by up to 35%
Continuous improvements to our pricing algorithms ensure that your revenue management process always gives you the most bang for your buck.
Beyond analyzes billions of traveler search data points to ensure your rental prices are competitive.
With Beyond, short-term rental managers increase nightly revenue by up to 35%
Continuous improvements to our pricing algorithms ensure that your revenue management process always gives you the most bang for your buck.
Pros and cons
Pros
Ease of Use: Users found the interface to be simple and user-friendly, with multiple ways to adjust rates. Some users mentioned that they can save time by adjusting rates on multiple properties in a matter of minutes. The ease of use has made pricing hassle-free for many users.
Automation and Accuracy: Many users appreciated Beyond Pricing’s automation and algorithmic accuracy in managing pricing, which helped them understand regional factors and constraints for proper pricing. They also loved the way Beyond Pricing automatically analyzed market trends and continually updated pricing to optimize revenue, allowing them to focus on other aspects of their business.
Customer Support: Several users praised the outstanding customer support provided by Beyond Pricing’s team. They mentioned that the staff was friendly, helpful, making them feel like it was a partnership. Additionally, the support team was quick to fix any issues raised by users.
Cons
Difficulty understanding features: Some users have reported difficulty understanding some of the features of Beyond Pricing. One user found the gap-fill feature overly complicated, and another found it difficult to figure out how to set a base price.
Unhelpful customer support: Some users have reported that customer support can be unhelpful, with one user specifically mentioning that they received only copy-paste FAQs in response to a serious issue.
Pricing can be expensive: Finally, some users have noted that the software can be expensive, especially if they have multiple properties, and that the commission structure can add up quickly.
Integrations and Compatibility:
Beyond Pricing seamlessly integrates with popular vacation rental platforms such as Airbnb, Vrbo, and Booking . com This means that you can easily connect your property listing to Beyond Pricing and start optimizing your rental income right away. The platform also provides detailed analytics and reporting, allowing you to track the performance of your rental property.
Testimonials:
Many vacation rental hosts have experienced significant improvements in their rental income after using Beyond Pricing. Hosts have reported increased occupancy rates, higher average nightly rates, and improved overall profitability. These testimonials highlight the effectiveness and value of Beyond Pricing for vacation rental hosts.
Conclusion:
Beyond Pricing is a powerful tool that can help vacation rental hosts maximize their rental income. By leveraging real-time data and market insights, Beyond Pricing ensures that you are always charging the right price for your property. With its time-saving features, increased occupancy rates, and competitive edge, Beyond Pricing is a must-have tool for any vacation rental host looking to optimize their rental income and achieve long-term success.
So, why wait? Start using Beyond Pricing today and unlock the full potential of your vacation rental property!
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