Smart pricing problem

Yellowstone0 · ‎08-01-2019

I have 3 cabins that are virtually the same and located immediately next to each other. One cabin is smart priced at about $80.00 all summer. The other 2 start at $106.00 and go up at times during the summer. The minimums are set at $75 to $80 for all three cabins and the max is set at $250.00. I can't see any setting that causes the one cabin to stay stuck in the low numbers. Any suggestions as to how to fix this problem?

Thanks, Francis

Cathie19 · ‎08-01-2019

Hi @Yellowstone0.

Take them off smart pricing and stay informed of the area? If you know the value of the properties, and have a base line price, you really can watch the pricing yourself.

- Take some time to look at your local events calendars for public holidays, events etc. Add notes on these days of the calendar and set a higher price due to higher demand if that’s what you want. (It suits me to do this for 12 months at a time.) Note low season periods if you have them ( your baseline rental price)

- Keep an eye on the competition: Airbnb,hotels/motels & other cabins in your area. They may offer specials, but will that price suit you, or be too low to maintain?

- Choose your base prices and don’t be tempted to lower it.

Yellowstone0 · ‎08-01-2019

Thanks, Cathie, for your quick response!

I appreciate your practical suggestions, which I will take to heart.

It just strikes me as odd that the same type of property right next door to 2 other identical properties would be priced so differently by the Smart Price system.- a difference of $ 26.00 per night during the off-season, and even more during the peak season.

I wonder:

Is the system comparing this first property against a different set of competition?

How can I find out if that is the case?

How do I fix it so it acts the same as the other 2 properties in the smart pricing software?

I know one thing for sure, I will be taking this property off Smart Pricing ASAP and setting the prices manually to match the other 2 properties. I have been getting some bargain hunter responses to the summer rate as you can well imagine!