As a software company that is one of the leading providers of vacation rental software, we provide you with an innovative technology to deliver essential tools and solutions to the vacation rental industry. Rates being one of those features offered in the system assists you with operating your properties and plays an important role to increase your business’s profits. The CiiRUS software provides you with the ability to offer different rates to your customers.
For our websites, rates are offered in three different ways such as Combined Monthly rates, Combined Weekly Rates, and Daily Rates. By utilizing either Combined Monthly or Weekly rates you are equipped to give the travelers a discount on just the typical Daily rates and an incentive to book a longer stay with you.
Channels currently only go by Daily Rates, but some offer excellent tools like Length of stay discount tools such as HomeAway, Last Minute offers like Airbnb that will be soon implemented in the CiiRUS platform. We also utilize dynamic pricing for rates such as Beyond Pricing, and Price Labs to offer the tools so that the user is able to dynamically control their prices. As a rule of thumb, you want to have 2 years’ worth of rates input into the system.
We also utilize tools like Market Maker that HomeAway offers property managers to offer rate suggestions based on similar housing, close events, high traffic in sites as well as other specialized data HomeAway has acquired.
When adding rates based on where your properties are located you want to make sure that the rates you are setting are in line with what the current market average is with that said you don’t want the rates to be set too low or too high. To achieve a greater number of reservations coming in on a daily basis whether if it’s low or high season you want to be sure that you’re ahead of the curve. If the rates are up-to-date and consistency is in place you as a property manager or booking agent will produce a significantly greater ROI.