Pillow offers automated pricing where, once a day, Pillow recalculates nightly prices for each property taking into account property attributes, seasonal demand and local competition.
Days of higher demand (e.g. Dreamforce or weekends) will be priced higher than other days. Pricing will update and sync to all of your listings daily.
Custom Base Pricing
Setting a custom base price will calculate dynamic pricing around the value you set. For example, if you set a base price of $100, Pillow will automatically adjust your reservation pricing based on that amount.
If no base price is set, Pillow will optimize pricing for you.
Other Custom Pricing Options
If you set a minimum price, reservation pricing will never be set below that number. For example, if the minimum price is set to $150 but dynamic pricing suggests the reservation price should be $125 for that day pricing will remain at $150 because that is the minimum price.
If you set a weekday price we will set any weekday at that price. This price will override a minimum price. Weekdays are Sunday, Monday, Tuesday, Wednesday, and Thursday.
If you set a weekend price we will set any weekend day at that price.This price will override a minimum price. Weekend days are Friday and Saturday.
You have the ability to set specific prices for specific days from the calendar. If a nightly rate is set from the calendar the nightly price for that day will be exactly that price and the other pricing described in this article will not apply.
Security Deposits are processed dependent on the booking platform that your guest uses to reserve your property - some charge a pending fee up front while others do not. In the event that a guest causes damage to your property, you can request up to the amount of the security deposit to cover the cost of repair or replacement.
Additional Guest Fee
You have the option to charge an additional fee per guest per night. If a additional guest fee is set, a fee is charged for each additional guest above the selected number of guests preferenced. This does not impact the maximum amount of guests allowed at reserve the property.
Long Term Discounts
You can optionally set a discount percentage for guests that book entire weeks or months (only available on Airbnb). This setting will ignore minimum pricing and any custom pricing settings.
Weekly Discount Percentage - Discount provided to the guest if they stay for at least a week.
Monthly Discount Percentage - Discount provided to the guest if they stay for at least a month.
Additional Pricing Features
HomeAway Transient Occupancy Tax
As a short-term rental property owner, you may be responsible for remitting to your local government what is known as TOT. This tax is a percentage (determined by your municipality) of the amount a guest pays for each reservation. This amount includes any service fees associated with the reservation such as cleanings.
HomeAway Price Increase
HomeAway and VRBO has a higher service fee associated with every booking. To ensure your income is not impacted by this difference, Pillow automatically increases your booking rate on this platform to be consistent with this fee. However, you have the opportunity to choose the percentage accommodation fees are increased. This percentage increase can be anything from 0%-99%.