Customer type: Property Manager
Products: Dynamic Pricing
Number of listings: 150+
Ivan Rodriguez has been involved with vacation rentals in Spain for about 18 years on a personal level, and in 2019, he started doing it professionally through his company, R2R Consulting.
PriceLabs has helped him
- Save time allowing him to focus on business growth
- Optimize processes allowing him to scale faster
- Transition seamlessly from one PMS to another
About R2R Consulting – Vacation Rentals in Spain
R2R offers real estate and vacation rental consulting services in Spain, that includes property buying and selling. One of their main areas of focus is the management of tourist accommodations in the communities of Asturias and Cantabria. They currently manage villas, apartments, palaces, and even camper vans. With a total of 160 properties under their management, they expect this number to rise to 200 after the summer.
Challenge: Endless Excel files and excessive workload
Before using PriceLabs Dynamic Pricing, Ivan calculated prices manually in Excel, spending hours working on endless files. Additionally, to compare with competitors, he had to manually research the market by analyzing each property individually. When his portfolio reached around 20-25 properties, the workload became impossible to handle, and they started looking for solutions.
Time savings by optimizing processes that allowed them to focus on scaling their business
After starting to use PriceLabs and configuring their account with the appropriate parameters according to their strategy, Ivan noticed a significant reduction in workload, allowing him to focus on scaling his business.
The features he uses the most are the multi-calendar to review prices for each property and price adjustments at the group level.
He also greatly appreciates the listing health indicators and is thrilled with one of the new features: base price alerts – nudges that helps him stay ahead of the game with and realign with the market. The base price alerts are displayed on the main dashboard when PriceLabs’ suggestion is higher or lower than 5% of the listing’s base price.
The listing health indicators compare property occupancy with the average market occupancy over various periods, showcasing performance with color codes, making it easy to know which listings need attention and adjustments.
Transition from one PMS to another
Ivan mentioned that he transitioned from using a PMS dedicated to small companies and hosts to using Avantio. With PriceLabs ability to connect with over 90+ PMSs, he found the transition from disconnecting the old PMS and connecting the new PMS with PriceLabs to be extremely fast and seamless.
When property management stops being a hobby, using a dynamic pricing solution is a natural step
Ivan commented that when you reach a certain number of properties under management, it becomes a natural step to have a pricing solution like PriceLabs in addition to a channel manager or PMS.
“PriceLabs does its job well, but it’s important for property managers to periodically review their strategy and sales performance. In a dynamic market context, it’s necessary to reevaluate the strategy periodically and make necessary adjustments.”– Ivan Rodriguez, Founder, R2R Real Estate & Property Management Consulting , Spain