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How do you decide how to price your Airbnb? Do you use the famed “set it and forget it” strategy? Do you spend hours agonizing over an increase or decrease of just a few dollars? What if I told you that you could take all the guesswork out of the equation and start pricing the smart way?
The battle of the pricing tools is here! Both Wheelhouse and Beyond Pricing use smart technology to tell you how, when, and why you should price your rental a certain way. They both offer dynamic automated pricing so you can sit back, relax, and watch your increased profits roll in. But is one better than the other? Let’s find out!
Is Beyond Pricing Worth It? Or is Wheelhouse Better…
At the end of the day, both Wheelhouse and Beyond Pricing offer fairly comparable services that would be greatly helpful to both new and experienced Airbnb hosts. Whichever you choose is up to you, but Wheelhouse did slightly outperform Beyond Pricing in our ratings. If you want to see if Wheelhouse is the right fit, you can get started HERE today!
How Does Wheelhouse Stack Up Against Beyond Pricing….
- Many pricing modes and options to choose from
- Email plus chat support offered
- Great user interface
- Historical data plus future event predictions
- Works with some other rental platforms
- Free revenue management courses
- Monthly or percentage-based costs
- No VRBO or HomeAway integration
- Automated pricing sometimes inaccurate
Does Beyond Pricing Compete with Wheelhouse?
- Automated pricing allows direct booking through custom website
- Rental manager integration
- Airbnb, VRBO, and Booking.com integration and syncing
- Some extra fees (vary by plan and number of rental channels)
- Few bundled service options, mostly à la carte
What is Wheelhouse?
Wheelhouse is a smart pricing tool that aims to help Airbnb hosts outcompete other rentals in the area. In fact, they claim you can even increase your revenue by up to 40%, which is pretty significant!
The way it works is that you create an account and plug in your Airbnb information. It then uses its algorithm to predict how you should set your prices and how they should change over time. It can break things down to a day-by-day level and includes options for historical analysis and future events that are likely to bring in more guests (and hence more money).
If this all seems a bit complex, that’s because it sort of is. But don’t worry, you don’t have to sit around all day refreshing the page for up to date pricing information and scramble to change your rates constantly. Wheelhouse’s strength is their automated smart pricing strategies which allow you to let Wheelhouse, well, take the wheel!
Want to find out more? Click HERE for my detailed Wheelhouse review!
I really like that Wheelhouse offers two pricing structures. You can either pay a small percentage fee of all your revenue monthly or pay a flat fee (which varies based on the number of listings you have). This allows you to choose which makes more sense financially and keeps you from overpaying for something you’re not using as much. It gets a 9.5 out of 10 for price.
As far as value, I give Wheelhouse a 9 out of 10. I like their no-nonsense pricing scheme and feel that they offer quite the value for the very nominal price you pay. They’ve edged out Beyond Pricing a little bit in this category because they only offer one plan that covers all their services versus several smaller plans that you would need to add together.
Wheelhouse’s features earn them a 9 out of 10. They do what they do, and they do it well! While dynamic pricing predictors are becoming more and more common as people seek to beat out the Airbnb competition, Wheelhouse still offers a nice interface and intuitive program that gives you just what you need.
Customer impressions of Wheelhouse are a bit variable, but a lot of this comes down to personal preference and product know-how. Some felt that the automated prices were a bit off for what their market typically handles, but that could be easily solved with a little user oversight. I give them an 8.5 out of 10 for customer impressions, giving them an overall score of 9 out of 10.
Wheelhouse Pros and Cons
Wheelhouse offers several pricing models to choose from, ranging from the more aggressive (and risky) levels to the safer and more conservative ones. It’s up to you to choose your strategy, and I like how they break it into three simple levels that anyone can understand. I also like that they offer email and chat support but would love to see phone support added.
Their UI is great, as many customer reviews rave, and it’s nice to see that they allow you to view historical trends and future predictions so you can know where your data and pricing advice is coming from. They do work with a few other rental platforms, mainly much smaller ones, and unfortunately don’t offer HomeAway or VRBO integration, which is a bummer.
Something I was surprised to see was that they have free revenue management courses on their website so you can start pricing and managing like a pro! This is a cool feature that I have yet to see anywhere else. Finally, I like how they let you choose from a flat fee or a percentage of revenue for your monthly payment. It’s all very customizable, right down to the (sometimes inaccurate) automated pricing options.
What is Beyond Pricing?
Somewhat similar to Wheelhouse, Beyond Pricing is a smart pricing tool that also offers several neat features for the discerning Airbnb host. Most of these features come in their own separate plans, so you can pick and choose which are right for you and keep costs as low (or high) as you’d like.
These features come under different names on their website such as Dynamic Pricing, Signal, Relay, Insights, Projections, and Guidance. Each of these performs a slightly different function hinted at by its name, and each comes at its own cost.
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Beyond Pricing Ratings
Beyond Pricing gets an 8 out of 10 for price because while their individual plans are affordable, you would need to stack several of them in order to meet the functionality of Wheelhouse. This is also why I gave them an 8.5 out of 10 for value. Each service by itself is a great value and a powerful tool, but it would seem more intuitive to bundle all (or at least several) of them together for an all-in-one solution.
For features I give them a 9 out of 10. They really do offer a lot, including your own website with direct booking functionality. A lot of customers love this feature, and it allows you to own your own revenue stream without having to rely on a third party company. As we’ve gone over, a lot of customers wish that more of Beyond’s services were offered in a package, earning them an 8 out of 10 in customer impressions and an overall score of 8.4 out of 10.
Want to know more about how Beyond Pricing compares to another smart pricing tool, AirDNA? Head over to THIS article!
Beyond Pricing Pros and Cons
Beyond Pricing is one of the best smart pricing tools out there as it offers so much functionality and so many different services. Their automated pricing is becoming industry standard nowadays, but it really does make your life easier as a host. One of their most unique draws is that they’ll help you create and host your own direct booking website so that you don’t have to let Airbnb or VRBO take a cut of your listings! This is great for diversifying your online presence and can help hosts stay more independent of these ever-growing enterprises.
I also like that they can integrate with most of the major rental management platforms out there as well as HomeAway and VRBO, something that Wheelhouse is sadly lacking. This will help you prevent double booking or having asynchronous pricing across all your different platforms.
The biggest drawback for me about Beyond Pricing is how they price their own services, unfortunately. I really don’t enjoy the separate plans for each feature and feel it would make much more sense to at least offer some sort of all-in-one bundle. Until then, hosts are free to pick and choose which services they want or need, which could be seen as a plus for some.