Welcome to Perfect Price! Let's get you set up quickly. You may have your own way you get comfortable with new pricing software, but if you don't–here's a path that has worked for many others.
Pick one unit to start
Start with setting up just one unit, so that you can get a feel for things without being overwhelmed. It'll take about 10-15 minutes to set up your first unit, after that you can probably set up 20 (or more!) units in that much time (depending a bit on how your business is organized). Choose any unit from the Units page and that will take you to the Unit Detail page.
Look at the prices first
Take a look at that unit's calendar:
The calendar will show you the current recommended prices (white dates), any bookings and what was paid (green dates) . Are the prices high? Low? Look four in general areas before you make changes!
- The next 60 days
- Key holidays that you expect bookings for now
- Representative Peak times (Christmas, Spring Break, etc.)
- Representative Off-Peak times
View the Price Breakdown
Click on a day to see a breakdown of the price. For booked days, you will see information about the booking. Note that the price depends on how your PMS represents it; much of the time you will see a premium for an Airbnb or VRBO booking which will appear higher than AI recommended prices, which will be "grossed up" before being pushed to channels.
For an unbooked night, you can see the Price Breakdown showing how the AI calculated the price. This will include seasonality, day of week effects, occupancy, and any rules you may have created that apply to this night.
If the prices are great–move on to the next unit! If you feel the need to adjust them, read on for how to do this efficiently.
Set a minimum price
Set a minimum price under "Minimum Price" next to Base Price. This is your "global minimum price". The unit will never go below this price, ever.
Pro tip: In order to toggle units "on" to automate deployment of prices, you must set a minimum price.
If the unit's prices are all too high or low
Update the Base Price, on the Units page, raising it if prices are too low, lowering it if too high. Think of the Base Price as the off-season, weeknight average price of the unit.
If you want to adjust prices, say, per season, you can do this using Rules, we'll get to that in a bit!
Regenerate prices, by clicking "Generate Prices" to see if they more closely reflect your expectations.
Fine tuning with rules
You may want to make specific adjustments at certain times–a minimum weekend price, a minimum price during Christmas, etc. Or, you may have strategies that have always worked and you want to automate them. Don't feel like you're not getting value out of the AI if you choose to set up strategies like these–the point is to have control and automatically generate the prices that you know work for you! Here is how to do that for a few common strategies:
You can do this in Rules, with a very easy to use interface. Please message us in the chat if you have any questions or want to walk through a particular strategy and make sure you set it up right!
Setting up dynamic minimum stay policies
Head over to the Minimum Stays tab to set your minimum stay policies. This tab is meant to be a simple way of managing your minimum stays dynamically, getting the maximum occupancy out of your units. Learn more about setting up dynamic minimum stays in its own article here.
Pro Tip: MyVR customers must set up minimum stays in order to deploy prices.
Turn it on!
Once you've dialed in prices, turn on automatic updates by toggling the "Deploy Prices" button. Note: If you don't toggle this button, prices won't be pushed to your PMS or Airbnb.
Price and stays will automatically update to your PMS the following morning, or you can click the "Deploy & Update Now" button to update it immediately.
Once your first unit is all set, do lots at once!
Now that you've done it once, it'll be much faster to set up the rest of your units. Most people find that Rules and Policies can apply to lots of properties at once, reducing the work that needs to be done a tremendous amount. Remember that by setting all this up, you then save a ton of work every week in the future!