Vacation Rental Glossary
Minimum price
Min price is the lowest price a property manager sets for their listing. Even if you add multiple customizations, the price will not go below the min price that you have set for your listing. If you add a date specific override, then your minimum price is bound to be the override. For example, you have a minimum price of $70, and you set a date specific override of say $50, then your minimum price will be $50. (You will also be shown a pop-up or warning about the change, once you confirm it the change will happen)
Base price
Base price is the average rate that a property manager charges across the year. All market factors, demand patterns, and customisations are applied to the base price. This rate will fluctuate based on the quality of your listing.
Maximum price
Max price is the maximum price a property manager sets for their listing. Even with multiple customizations on your base price, the pricing will not go above the max price.
Sync prices
Sync prices toggle shows the current status of the property. Prices get updated every night if the switch is ON and green. If the switch is OFF and gray then we will not change prices.
Last synced
Last synced gives an indication of when the listing has been last updated. New listings will show as ‘Not Synced’.
Listing health
Listing health is the indicator of your property’s performance against both your own property and the market in any specified period of time. You can set any period of time that you want to analyze. For example, if your property has been booked for 15 out of 30 days, then your listing occupancy would be 15%. You can compare this with that of the market (average market listing health) and understand how close to or far from the market occupancy your listing is.
Listing name
Your listing name is imported from channels/OTAs, this can not be changed on PriceLabs. However, you can use tags to nickname your listing to easily identify them. With the listing name, the channel/PMS and the account the listing belongs to is mentioned. This hyperlink will take you to the listing page or calendar in your PMS or channel listing page.
