Today on Blue Gems we’re welcoming Becca Madigan from PriceLabs. She started out as a front desk pricing at her local vacation rental company in Charleston, SC and now has been with PriceLabs for two years. Becca is walking us through what services PriceLabs offers and how STR investors can utilize the analytics from design to amenities to specific markets. She sees lots of data and is talking about what the patterns in data are showing and things investors may need to watch out for when looking for new investments.

PriceLabs has lots of opportunity for customizations and also a great support team that is there to help you if something looks off. Use a dynamic pricing tool to save yourself time and make yourself more money, and if you don’t have one yet check out PriceLab’s website linked below and see how they can help you make a difference in your STR game. 

Pricelabs Website- https://hello.pricelabs.co/

Blue Gems Management- https://bluegemsmgmt.co/

STR Meet Up- https://www.eventbrite.com/e/blue-gems-strairbnb-meet-up-tickets-576481239907

[00:00] Episode teaser

[00:24] Show intro 

[00:56] Becca Madigan: her journey into PriceLabs

[02:23] What is PriceLabs?

[03:50] How the market dashboard works and the data behind it

[06:11] Filtering by amenities

[07:15] Seasonality 

[08:51] How do you begin to choose a base rate?

[10:25] Advanced factors for more experienced investors

[13:28] If you have one property, is it worth getting PriceLabs?

[14:28] Pricing

[15:35] New features coming out in PriceLabs

[16:46] What is the data telling about saturation? 

[18:05] Blue Gems Management

[18:33] Markets Becca is excited about

[20:52] Saturated markets

[21:47] Things people miss with PriceLabs

[23:47] Why do people hold back on investing?

[24:32] Where is the STR market going in 2024?

[25:29] One last blue gem

[26:09] Where to find PriceLabs webinars

[26:39] Wrapping it up