If you’re a property manager or owner using Host Tools to help manage your rental properties, you’ll be excited to hear about our recent update! We’ve now added an additional integration with PriceLabs data into our system, which means you can set dynamic minimum night requirements for each listing.
That’s right – no more worrying about whether you’re setting the proper minimum nights on each listing! This blog post breaks down everything you need to know about this exciting new update.
Host Tools provides an automated, unified calendar for short-term rental hosts, allowing you to seamlessly list on all major channels. Start your free trial today!
What is PriceLabs?
As a reminder, PriceLabs is a sophisticated web-based dynamic pricing tool that uses artificial intelligence to automatically price your vacation rental, and set minimum night requirements rental based on the rental’s history, day of the week, local trends, seasonality, and more. This software is much more effective than Airbnb’s Smart Pricing tool and can help you optimize your rental income.
What is a Minimum Night Requirement?
A minimum night requirement means that a guest must book a rental for a certain number of nights in order to complete the reservation. This is standard practice for vacation rentals, as it helps owners efficiently manage their properties, as they can plan for a certain number of guests to stay during specific dates without turnover.
Minimum night requirements vary depending on the property and owner but are typically 2-3 nights. Some rentals may have a more extended minimum stay requirement during busy seasons or holidays.
What Does this PriceLabs and Host Tools Update Mean for You?
Previously, the Host Tools software only pulled daily prices from PriceLabs. With the latest update, Host Tools will automatically pull PriceLabs’ recommended minimum night requirement for your short-term rental.
This update will make it easier for hosts to manage their listings, as they will no longer need to manually choose and input the minimum night requirement data. Additionally, this change will allow hosts to more accurately reflect their prices on their listings, as the minimum night requirement will be updated in real time.
How do I Integrate my Host Tools Account with PriceLabs?
If you aren’t yet using your PriceLabs account with Host Tools, it only takes a few minutes to get up and running. Follow this step-by-step guide (with screenshots!) to quickly set up your integration. Of course, if you have any trouble, feel free to email Tom at [email protected].
How to Set Up a Minimum Night Requirement in Host Tools
The first thing to note is that Host Tools rules will always override any rules it pulls in. This means if you want PriceLabs minimum night requirements to push out to your channels, you should delete any minimum night pricing rules you already have on Host Tools.
To set up a new minimum night requirement, follow these steps:
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Create a new pricing rule (Don’t remember how to do that? Learn how here.)
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Specify which date you want the pricing rule to apply to (i.e., floating window, specific dates, orphan periods, etc.)
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Open the drop-down menu under “Options,” scroll to the bottom, and select the “Set Minimum Nights” option.
Final Thoughts
This update streamlines vacation rental listing management, and we’re excited to offer it to our users. If you have questions about setting up your PriceLabs account with Host Tools, feel free to reach out to us here. We’re always happy to help!
Host Tools provides an automated, unified calendar for short-term rental hosts, allowing you to seamlessly list on all major channels. Start your free trial today!
