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Why is PMS Software Different for Hotels, Vacation Rentals and Apartments?

by
Hotel Tech Report
1 week ago

Hotels, apartments, and vacation rentals each have their unique characteristics but what about their software? The property management system is the core of the tech stack at any accommodation business, but, as we’ll discuss in this article, not all property management systems are the same. If you’re considering implementing a PMS or switching from your current vendor, this article will help you understand the intricacies of systems designed for specific types of properties. With the right software partnership, you can run your hospitality business more efficiently and focus on delighting your guests (or tenants).   Very Different Guest Journeys Based on Length of Stay The apartment "guest journey" is relatively straightforward.  Prospective tenants view an apartment they like with a leasing agent, decides to rent and then moves in.  Prior to move in they complete a credit check and setup payment through an online payment portal that gets drawn upon in monthly increments. The next most complex guest journey exists in vacation rentals where prospective guests find a rental unit via an online travel agency like Booking.com or Airbnb.  They'll often communicate with the owner via the platform they booked on and use a mobile check-in method like keyless entry upon arrival.  Rooms aren't cleaned until the guest checks out and there are no on site outlets or amenities. Hotels offer the most complexity in guest journey with ultra high touch amenities delivered by often large teams of hotel staff.  The hotel industry is all about guest service.  Guests usually make direct bookings on a hotel website or via an OTA.  They'll receive email or text message communication prior to arrival.  Upon check-in, guests are greeted by a front desk agent and taken to their room by a bellman.  Their room gets cleaned each night and they enjoy hotel amenities like room service, on-site restaurant and spa outlets and more.   What is PMS Software? Let’s start at the beginning: what is a property management system anyway? A PMS houses all the organizational and administrative tools you need to run a multi-family business, hotel or short-term rental in real-time and automate core functions like booking and reservation management.  Key functionality in hotels and vacation rentals includes a calendar where you can manage reservations, a booking engine for your website, a dashboard for housekeeping to mark clean and dirty rooms, a guest information database, and various financial reporting. Some PMSs have an integrated channel manager which handles connections to third-party booking sites. Many PMSs are cloud-based and offer mobile apps so you can manage your property from anywhere at any time. It's important to understand each of these journeys before diving into the core operating system of each, a cloud PMS, because each PMS is designed for both the complexity and jobs to be done of both staff and guest journeys.  Where hotel property management software requires functionality like connecting to major international payment gateways an apartment reservation system might only require local payment processing since tenants are by definition locals.   Hotels, Apartments and Vacation Rentals Are Converging We're seeing a major convergence in the real estate and hospitality industry where the guest experience in certain segments of the hotel market is looking more like vacation rentals and vice versa.   Adding to that, companies like Sonder and Why Hotels are turning apartments into short term rentals and hotel rooms while Airbnb is now a major distributor of hotel inventory. It's not hard to understand why.  The hotel business is all about delivering high guest satisfaction and incredible guest experiences - it's ultimately doing the same thing as the vacation rental business and even apartments.  Hotel operations tend to be the most complex given the focus on guest experience and presence of front office teams.  Generally speaking, the longer the duration of the rental, the easier the business is to manage meaning that apartments are the least operationally complex to run. The key difference between short term vs. long term accommodation software lies in the fact that apartment management systems generally focus on tenant functionality like community portals and subscription rent payments.  For shorter term accommodations, hotel and vacation rental PMS software focuses on credit card and payment functionality, facilitating online bookings and rate management.   Key differences in PMS software for Hotels vs. Vacation Rentals The daily operations of hotels and short-term rentals can be quite different, so it makes sense that property management systems would have unique functionality for different property types. But what are the biggest differences? Key points of differentiation include the room or unit type setup, the connections available in the channel manager, tools for daily operations, and integrations with third-party software.   Room Types vs. Separate Units When we think about the physical layouts of a hotel, short-term rental apartments, and vacation homes, several differences come to mind. At a hotel, you’ll find a lot of rooms, but those rooms usually fall into a few distinct room types. Short-term rental operators might manage many apartments, but each of those apartments might be unique and located in a few different buildings. Vacation homes can have their own addresses and often have different sizes, amenities, and policies. In order for hoteliers and property managers to get the most utility out of their software, property management systems must account for these differences. Hotel-specific software like Hoteltime will be set up for room types in the same building, while vacation rental-specific software is built for unique individual units often at different addresses. While hoteliers probably don’t add new room types on a regular basis, short-term rental operators expand their portfolios regularly, so it’s important that their software allows for easy addition of new units. Daily Operations The who, what, and where for daily operations is another major point of differentiation between hotels and short-term rental properties - and their software. At a hotel, many employees from various departments will use the PMS on a daily basis. Front desk agents, housekeeping staff, back-office employees, and the leadership team might all use the PMS at the same time. Tasks range from checking in guests, tracking housekeeping status, upselling rooms, entering reservations taken over the phone, and running reports for leadership meetings. It’s important for a hotel PMS like Hoteltime to allow multiple user accounts and levels of access rights. A vacation rental PMS, on the other hand, is used by fewer people and for fewer manual tasks. Vacation rental reservations are rarely taken over the phone, and, usually, a smaller team of staff interacts with the system. Since short-term rentals often don’t have a front desk, it’s crucial that property managers can access the PMS on the go, like via a mobile app. Most short-term rentals do not offer housekeeping mid-stay, so that functionality is less important. However, it’s crucial that a PMS can support automated check-in instructions and other communications that allow the guest to complete a self-service check-in. Smaller hotels (under 20 rooms) generally require all-in-one affordable hotel management software but may be able to use vacation rental software to manage their properties.  Check out our list of best hotel software for smaller properties. Channel Connections Not only do daily operations differ based on property type, but so do distribution strategies. If a PMS offers channel management functionality, you’ll notice that the supported channels vary with property type. Hotel-specific software will focus on connections to the big OTAs, like Expedia, Booking.com, and Agoda, plus to the GDS and travel agents. Most vacation rental-specific software also connects to Booking.com and Expedia, but connections to vacation rental booking sites like Airbnb, Vrbo, and Tripadvisor Rentals are essential. Hotel-specific software likely does not support connections to Airbnb, Vrbo, or Tripadvisor Rentals. Integrations Channel connections aren’t the only links between a PMS and other systems; property management software can connect to third-party apps that bring additional value to your operations. Hotel-specific PMSs will offer integrations with other hotel systems that usually happen via API, such as revenue management systems (IDeaS, for example), work order software (HotSOS), upsell software and point of sale systems (Micros). Vacation rental-specific PMSs integrate with a slew of vacation rental-specific software and apps, including dynamic pricing tools (PriceLabs), property-level security and monitoring systems (NoiseAware), keyless entry solutions (RemoteLock), guest communication tools (Hostfully), and more.   Have we missed any major differences between property management systems? Let us know!  

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80 Different Types of Hotels Explained

by
Hotel Tech Report
3 weeks ago

Want to explore a plethora of types of accommodations? You’ve arrived at the right place. We’ve researched over 80 kinds of hotels, resorts, vacation rentals, and more. By the end of this article, you’ll discover which accommodations are right for you.  The classification of hotels is no easy feat so we. decided to make it easy for you. We’ve broken down this article into 7 categories (by type of hotel):  Popular Hotel Types Chain Scales Star Ratings Niche Hotel Types Regional Accommodations Unique Hotel Concepts Hotel Alternatives   The hospitality industry is changing rapidly.  Vacation rental companies like Airbnb are looking more like hotels and hotels are looking more like vacation rentals with the invention of serviced apartments and apartment hotels.  As a guest you want to know what each hotel has to offer.  Does a 3-star hotel offer room service? Does a five-star hotel need a spa?  What kinds of hotel amenities does a resort hotel have?  Are budget hotels dirty?  Ready to dive in? Let’s go!   Popular Hotel Types These hotel types are the most common, and you can find them all over the world. Chain Hotel: Also known as a “branded hotel,” a chain hotel is affiliated with a brand that may have strict guidelines for amenities and design. Some chain hotels are part of a larger ownership group, while other chain hotels have independent owners but follow the same brand standards. Popular hotel chains are Courtyard, Holiday Inn, and Westin. Independent Hotel: A hotel that is independently owned and operated with no brand standards or guidelines.  Boutique Hotel: A hotel that incorporates unique design and personalized service, often with a theme or local influences. Boutique hotels are usually small (under 100 rooms) and independently owned, though some boutique hotels are part of collections like Leading Hotels of the World or chains like the Curio Collection by Hilton.   Pictured: Four Seasons Resort Maui at Wailea   Resort: A resort offers everything necessary for a vacation on-site, such as restaurants, bars, pools, spas, recreational facilities, kids clubs, and entertainment venues. Popular resort brands include Sandals and Four Seasons, though there are many independent resorts too. Airport Hotel: An airport hotel is located near - you guessed it! - an airport. Airport hotels usually provide free airport transportation for a seamless transfer. Conference Hotel: Catering to business travelers and groups, conference hotels have extensive function space, catering services, and event planners to suit trade shows, conventions, or other large events. All-Suite Hotel: A hotel which contains only suite-style guestrooms, which are guestrooms that have separate sleeping and living areas. Embassy Suites is a popular all-suite hotel brand. Extended-Stay Hotel: Designed for people who need a place to stay for several weeks or months, extended-stay hotels provide guestrooms with full kitchens and more spacious layouts than a standard hotel. Some extended-stay hotels also offer laundry events and social events.  Motel: Short for a “motor hotel,” motels are often located next to a highway in rural areas and offer basic amenities at a low price. Pictured: Aparthotel Baden, Switzerland   Apart-Hotel: Also known as a condo hotel, apart-hotels are made up of apartment-style units which can contain full kitchens and several bedrooms. Apart-hotels offer all the services of a hotel, like a front desk and housekeeping. Serviced Apartment: An apartment unit with hotel-style services available for nightly rentals, often catering to business travelers. Serviced apartments can be found in apartment buildings that also house long-term residents. Hostel: Popular among young budget travelers, hostels offer beds (usually bunk beds) in shared dormitories with shared bathroom facilities. Other on-site amenities can include lounge areas, bars, games, restaurants, and self-service laundry.   Chain Scales The hotel industry uses “chain scales” to categorize hotel brands. Smith Travel Research developed the chain scale system and decides which chains fall into each category, usually based on the hotel’s average daily rate. Luxury: These hotels are the cream of the crop. Luxury hotels offer exceptional service, distinctive architecture, award-winning restaurants, and amenities like spas and golf courses. Luxury chains include Aman, Peninsula, and Ritz-Carlton. Upper Upscale: Like luxury hotels, upper upscale hotels deliver unique experiences with stellar service and amenities - but with a less eye-watering price tag. Upper upscale chains include Hyatt Regency and Wyndham Grand. Upscale: Upscale hotels are full-service hotels with solid amenities and classic decor, usually including a restaurant and a fitness center. Upscale chains include Courtyard and Hilton Garden Inn.   Pictured: Holiday Inn Boston Bunker Hill Area   Upper Midscale: Ranging from traditional to modern, upper midscale hotels offer comfortable accommodation and basic amenities, like free breakfast and fitness centers. Upper midscale chains include Holiday Inn and Red Lion. Midscale: This segment includes both modern and legacy brands with basic design, sparse amenities, and, often, free breakfast. Midscale chains include La Quinta and Ramada. Economy: These hotels offer no-frills accommodation at a low price. Economy hotels are often found in rural, suburban, or airport areas and include limited amenities. Economy chains include America’s Best Value Inn and Motel 6.   Star Ratings Star ratings give travelers information about the level of quality at a given hotel. Generally speaking, hotels with higher star ratings can sell higher rates. Star ratings are either assigned by a third-party rating entity, such as Forbes Travel Guide, or by a governmental body in certain countries, like Australia and the United Kingdom.   1-Star Hotel: A hotel with basic amenities, perhaps with shared bathrooms or no dining options.  2-Star Hotel: A hotel with basic amenities and slightly elevated decor, breakfast service, and/or public areas like a lobby or gym. 3-Star Hotel: A full-service hotel with a restaurant, front desk, intentional decor, and housekeeping service. 4-Star Hotel: An upscale hotel with on-site dining, premium amenities, and a signature look and feel. 5-Star Hotel: A luxurious hotel with personalized service, high-end dining venues, wellness facilities, and elegant design. 7-Star Hotel: Though it’s not officially part of the star rating system, a few “7-star hotels” in destinations like Dubai and Fiji have such over-the-top amenities that the 5-star designation just doesn’t cover it. At Dubai’s Burj Al Arab, you can expect Rolls-Royce car service, a suite with a private movie theater, and a private beach.   Pictured: Burj Al Arab, Dubai   In many European countries, you can find the HOTREC Hotelstars Star Rating System. This organization uses a rubric with almost 300 points of comparison to determine which category a hotel falls into. In addition to these categories, a hotel can earn a “Superior” designation if it falls between two categories. Tourist Hotel (*): These hotels include guestrooms with private bathrooms, daily housekeeping, and a front desk with limited hours. Standard Hotel (**): These hotels include toiletries, towels, linens, and a breakfast buffet. Comfort Hotel (***): These hotels include bilingual staff, internet, hair dryers, and laundry and ironing service. First Class Hotel (****): These hotels include minibars, a restaurant, a lobby, and an extensive selection of toiletries and personal items in the bathrooms. Luxury Hotel (*****): These hotels include 24-hour reception, concierge service, in-room safes, and nightly turndown service. Did you know? AAA uses a “diamond” rating system to evaluate the quality of hotels and restaurants.  Check out our guide to hotel star ratings to learn more about these types of hotels.   Niche Hotel Types Looking for something specific? These niche hotels cater to a particular type of traveler or embody a certain theme. All-Inclusive Hotel or Resort: Don’t want to worry about dining out while you travel? All-inclusive hotels or resorts provide all of your meals on-site. Most all-inclusives have several restaurants, cafes, and bars that are included in the room rate. Beach Resort: Set directly on the beach, beach resorts let you go from your room to the sand in just a few footsteps. Beach resorts usually provide beach chairs, towels, umbrellas, and watersports equipment.   Pictured: Union Street Inn, Nantucket   Bed and Breakfast: With an average of only six rooms, these charming properties offer a homey atmosphere, daily breakfast, and social interaction with other guests and the proprietor, who usually lives on-site. Many bed and breakfasts are luxurious or historic. Business Hotel: These properties cater to business travelers and are located near business districts, airports, or convention centers. On-site amenities include meeting rooms, business centers, and restaurants for breakfast on the go. Casino Hotel: Feeling lucky? Casino hotels have on-site casinos, usually in addition to restaurants, bars, spas, and shops. Las Vegas and Atlantic City have high concentrations of casino hotels. Eco Hotel: Staying in a hotel doesn’t need to hurt the environment. Eco hotels range in size and style, but they all have a focus on environmental-friendliness. Eco hotels might come with limited housekeeping service, organic restaurants, LEED-certified architecture, and sustainable decor. Family Hotel: Traveling with the kids is easier when you choose a family hotel, which are found in popular vacation destinations like Orlando. These properties offer family-friendly rooms with bunk beds or separate bedrooms, restaurants with kid-approved menu choices, childcare or day camps, and activities for all ages. Gastro Hotel: A hotel with a culinary focus, sometimes featuring a Michelin-starred hotel or an on-site vegetable garden.   Pictured: Boulders Resort & Spa, Scottsdale   Golf Resort: A resort with a golf course, perfect for golf getaways. Golf resorts are usually found in vacation destinations like Hawaii or Scottsdale. Heritage Hotel: Take a step back in time at a heritage hotel. These iconic properties are known for their classic architecture and rich history. In some countries, they may even receive an official “historic” designation from the government. Microstay Hotel: Need a place to rest your head for a few hours? Microstay hotels can be booked by the hour, which is ideal for travelers with long layovers or quick turnaround times that don’t align with the standard check-in and check-out policies. Patient Hotel: Patients traveling to out-of-town hospitals can benefit from a patient hotel, which is usually located within or near a medical facility and offers services and amenities for pre- and post-treatment stays. Railway Hotel: Located next to railway stations, these hotels offer convenient accommodation for train travelers. The first railway hotel, the Great Western Hotel in England, opened in 1844. Ski Resort: Set in ski destinations like Aspen and Park City, ski resorts are ideal for a vacation on the slopes and offer the convenience of dining, wellness facilities, equipment rental and storage, and lessons on-site.   Pictured: Park Hyatt Tokyo   Skyscraper Hotel: Looking for a hotel with a view? You can find skyscraper hotels in metropolitan areas around the world. The hotels usually occupy several floors within the skyscraper; the other floors might contain offices, residences, shopping, or dining. Spa Hotel: If you’re in the mood for a relaxing getaway, then a spa hotel might fit the bill. Spa hotels have world-class spa facilities and often incorporate wellness into their restaurants, decor, and amenities. Tennis Resort: Channel your inner Serena Williams and head to a tennis resort for an active vacation. These properties offer not only tennis courts, but also lessons run by on-site pros and restaurants where you can fuel up between matches. Wine Hotel: A trip to Napa or Bordeaux isn’t complete without a stay at a wine hotel. Often set directly on vineyards, these hotels incorporate a wine theme in their dining venues, decor, and even spa treatments.   Regional Accomodations Some accommodation types are only found in certain parts of the world. Rather than choosing a chain hotel when you travel, you can get a taste of local culture at a region-specific accommodation. Albergo Diffuso: In an effort to lure tourists to small towns in Italy, the albergo diffuso concept offers accommodations in restored homes scattered throughout the town, giving travelers a unique sense of community. Bunkhouse: Similar to a hostel, a bunkhouse (also known as a camping barn) offers shared dormitory accommodations, shared bathrooms, and either a simple breakfast or a shared kitchen. Bunkhouses can be found in rural areas in the United Kingdom. Casa Particular: A staple of Cuban hospitality, the casa particular is similar to a bed and breakfast in that it offers travelers a room in a home and breakfast (additional meals too), plus basic decor and a low price. Country House Hotel: Popular in the English countryside, these tranquil hotels provide the ideal setting for a weekend away from the hustle and bustle of the big city. Country house hotels offer comfort food, afternoon tea, and activities like hunting and horseback riding. Gasthaus: This classic German accommodation offers guestrooms and a restaurant or tavern. These properties feature traditional architecture and are found in small towns throughout Germany. Hostal: Not to be confused with a hostel, a hostal includes private guestrooms or apartments plus a restaurant or cafe. Hostales are usually family-run and are located in Spain and Central and South America. Pension: Found worldwide, but mostly in Europe, pensions are modest guesthouses which provide guestrooms and meals. When booking your room, you can usually choose between full board (all meals included) or half board (breakfast and dinner included).   Pictured: Riad de Tarabel   Riad: Surrounded by an exterior wall, a riad features a lush courtyard garden and stunning Moroccan design and architecture. While a riad is simply a type of luxurious Moroccan home, many have been converted into hotels in destinations like Marrakech. Ryokan: A traditional Japanese inn which offers minimalist rooms with tatami mats instead of Western-style beds. Other ryokan amenities include communal baths and restaurants, and guests are usually requested to remove their shoes inside.   Unique Hotel Concepts Why stay in a typical hotel when you can have a one-of-a-kind experience? These innovative accommodations prove that there’s more to the hotel industry than the big-box chain hotel. Boatel: Even those prone to seasickness can enjoy a boatel, which is just a fancy name for a boat that doubles as sleeping accommodations while it’s moored in a harbor or marina. Boatels can be small boats perfect for a family or out-of-service cruise ships that offer hundreds of cabins.   Pictured: Capsule Hotel Hakodate   Capsule Hotel: Also known as a pod hotel, a capsule hotel offers micro-rooms with single beds and shared bathrooms. These efficient hotels give budget travelers an affordable place to sleep with more privacy than a hostel, and they’re popular throughout Asia. Castle Hotel: Want to sleep like royalty? A castle hotel is housed in a real castle, often found in rural parts of Europe, that has been converted into a fully functioning hotel complete with running water, electricity, and WiFi (usually!).  Hotelship: During high-demand periods when a city doesn’t have enough hotel rooms, hotelships come to the rescue. Passenger vessels like river cruise boats or ocean liners temporarily dock in a city to provide additional sleeping capacity. Hotel Barge: Set on canals in France, the Netherlands, Germany, and other European countries, hotel barges provide a few luxurious rooms and day excursions to wineries, markets, or castles. Pop-Up Hotel: A temporary hotel which is only open during limited dates or a holiday period. Some pop-up hotels are constructed for festivals or sporting events, while others can be part of elaborate marketing strategies for brands like Jack Daniels.   Pictured: A Rotel in Germany   Rotel: Short for “rolling hotel,” a rotel is what you get when you merge a tour bus and a hotel: bus in the front, hotel in the back. Rotels are popular in tourist destinations in Europe, Asia, and Africa. Underwater Hotel: Forget counting sheep; at an underwater hotel, you can count fish as you fall asleep. Set in resort destinations like the Maldives and Singapore’s Sentosa Island, these luxurious hotels offer underwater rooms with sea views - literally.   Hotel Alternatives Hotels aren’t your only choices when it comes to places to sleep during your travels. A growing segment of “alternative accommodations” puts a twist on the vacation experience with options available for every budget and style. Cabin: A home located in the forest or mountains, usually made from natural materials like wood. Cabins can range from simple accommodations to luxurious retreats in rural destinations. Campsite: Want to get back to nature? A campsite is as close to nature as you can get. Book your campsite, bring your tent, and enjoy a night (or a few) under the stars. Campsites have access to shared bathroom facilities. Farm Stay: For city dwellers, a farm stay can be quite an adventurous vacation. On a farm stay, you might wake up to the sound of roosters crowing and help your hosts harvest vegetables for your dinner, since guestrooms are either attached or adjacent to the host’s home.   Pictured: Istra Premium Camping Resort   Glampsite: If campsites had star ratings, then glampsites would surely earn five! Glamping puts a luxurious spin on camping with posh tents that incorporate high-quality materials, chic decor, modern bathrooms,  Guesthouse: A simple accommodation which offers guestrooms within the host’s own home. Guesthouses can have up to a dozen or more rooms, and most provide free breakfast. Holiday Park: A group of mobile homes or cottages with community amenities like swimming pools and tennis courts.  Homestay: A room for transient guests within the host’s home, which is a popular accomodation type in rural areas. Homestays usually include breakfast, and some invite you to dinner with the host family. Ranch: Ever wanted to be a cowboy or cowgirl? Ranches offer the quintessential Wild West experience, complete with horseback riding and plenty of nature. They vary in quality from luxurious resort ranches to working ranches where guests help with daily operations. Recreational Vehicle: The perfect road trip solution is a recreational vehicle (RV), which looks like a bus or large van on the outside, but features all the comforts of home on the inside, including at least one bed, a kitchen, a bathroom, and living space. Short-Term Rental: This new term refers to vacation homes or apartment rentals that travelers book for a short period of time, from one night to a few weeks. Short-term rentals can be managed by individual hosts or brands like Sonder. Studio: A single-room accommodation that includes a kitchen or kitchenette, a bed, and a bathroom. Studios can be found in guesthouses, apart-hotels, or as short-term rentals. Timeshare: This innovative solution to vacation home ownership lets you purchase a condo or villa for a certain time period (usually one week) each year. Some timeshares include use of just one property, while other timeshare membership programs allow you to redeem your week at your choice of several properties.     Tiny House: A trendy, Instagram-ready, and efficient accommodation that offers a bed, a bathroom, and a kitchen in just a few hundred square feet of space.  Treehouse: Ideal for the young at heart or anyone searching for a truly unique accommodation, treehouses offer a bed in the trees. These eclectic properties can be basic, open-air platforms or magical, luxurious palaces in the sky. Vacation Home: Simply put, a vacation home is a house rented for short-term use. A vacation home is a great solution for families or groups who want their own kitchen and living spaces and prefer not to book multiple guestrooms. Vacation Rental: The broader term for vacation homes, apartments, condos, villas, timeshares, treehouses and more that are booked for the purpose of a short leisure stay. Villa: Usually found in tropical vacation destinations, villas are like small, private resorts with multiple structures (standalone bedrooms, living areas, gazebos) and outdoor pools. Yurt: A halfway point between a hotel room and a tent. Yurts are permanent structures with walls and roofs, unlike tents, but they often lack electricity and climate control and use shared bathroom facilities.   Ready to pack your bags? Let us know if we missed any types of hotels.  

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How to Use the Homeaway Revenue Tool (MarketMaker)

by
Adrienne Fors
1 month ago

Looking for opportunities to boost your vacation rental’s revenue? Your daily rates might be a good place to start.  A great way to maximize your opportunity for revenue and bookings is to implement a dynamic pricing strategy, which means setting unique rates for each individual day - based on market demand, competitor supply, and your own historical data. If your prices don’t adapt to changing market conditions, you could be leaving money on the table. For property owners and managers who use Vrbo, the MarketMaker tool can be a solid addition to your pricing strategy and vacation rental marketing toolbox. In this article, we’ll explain exactly what MarketMaker does and how you can use it to optimize your Vrbo listings.   What is MarketMaker? Homeaway's Revenue Tool Explained (now Vrbo) MarketMaker is Vrbo’s revenue management and competitor research tool. It’s available to all Vrbo hosts in the Owner Dashboard. MarketMaker is free of charge. To access MarketMaker, simply log into your property dashboard and select “MarketMaker” from the menu on the left side of the page. The tool itself compares your property’s current rates and occupancy with the average rates and occupancy in your market or competitive set. A competitive set is simply a group of similar properties that Vrbo’s algorithm has chosen. This comparison helps you determine whether your rates are too high or too low and if you are capturing your fair share of bookings. If your property has lower occupancy than the market average, for example, that could be a signal that you have an opportunity to increase bookings.   What information does MarketMaker show? When you first open MarketMaker, you’ll see your properties at a glance. You can quickly notice each property’s average daily rate compared to the competitive set or market as well as occupancy percentage compared to the same competitive set or market. The data is from a time range selected on the top of the page: 30, 60, 90, or 180 days, or a custom range.     By default, all of the properties in your account will show, but you can also search for a specific property or apply filters, like number of bedrooms or location, to show a subset of your listings. Next, we can drill down on one property in particular. By clicking the number of “opportunities” or the arrow on the far right of a given property’s row, we can see rates for that property on specific dates. These dates show rate recommendations that Vrbo suggests based on competitive set data. Vrbo can recommend higher or lower rates, whatever the algorithm determines your property needs to maximize the opportunity for bookings.     When you click on the property’s name in the “Property” column, you can explore MarketMaker’s graph view. The graph looks overwhelming at first, so let’s explain exactly what you’re seeing.     The graph contains data for one of your properties and that property’s market or competitive set. On the top, you can see the calendar, your current rates, and whether your property is available (white), booked on Vrbo (green), or unavailable for another reason (gray). In the graph, you’ll see a few lines, which you can toggle to show or hide: Blue line: Your current rate Green rate: Average rate of properties in your market/competitive set which have been booked on Vrbo Gray line: Average rate of properties which remain available on Vrbo Yellow line: Number of searches for your market on Vrbo The graph also contains two stacked bars: Light gray bar: Current occupancy of properties in your market, based on Vrbo data Turquoise bar (above the gray bar): Forecasted occupancy of properties in your market, based on Vrbo’s historical data, seasonality, and trends When you hover over one date on the graph, you’ll see the actual data points that correspond to each line and bar.   How do you use MarketMaker? You can use MarketMaker in two ways: to make targeted rate adjustments and to gain a better understanding of market trends. MarketMaker offers rate recommendations when its algorithm detects a gap between your current rates and the market’s occupancy or rate trends. These rate recommendations can be found in the “opportunities” section. While looking at either the portfolio (list) or graph view, you may notice properties with “opportunities.” On the graph, the “opportunities” will be shown in blue just above the calendar row.      Using MarketMaker’s recommendations, you can adjust your rates up or down - in line with market demand and trends - without needing to do all the research to come up with those recommendations on your own. The other way to use MarketMaker is to study market behavior. The graph view displays some great data about market demand in terms of search volume, and you can also get a sense of your competitive set or market’s occupancy trends. These findings can help you determine high and low demand dates so you can adapt your own strategies - both on Vrbo and on other channels - to capture as much demand as possible. Knowing which dates are in high demand can lead you to change not only your prices, but also your minimum stay requirements, fees, and content to be most competitive.   What are MarketMaker’s limitations? While MarketMaker certainly presents some compelling information, it has one major limitation: the data is pulled only from Vrbo, and the changes you make to your rates will apply only to your Vrbo listing. For hosts who list properties on Vrbo only, that’s totally fine, but many hosts use additional booking channels besides Vrbo. In some markets, Vrbo represents just a small slice of all searches and bookings, so we recommend that you take the data with a grain of salt.  Another limitation of MarketMaker is that it requires manual input. You can only make use of MarketMaker’s rate recommendations by acknowledging each recommendation manually, and if you have several properties, the time needed to click through these recommendations and stay up-to-date can add up quickly. Airbnb’s Smart Pricing tool offers similar rate intelligence functionality, but it’s fully automated. Property owners and managers who use third-party dynamic pricing tools, such as PriceLabs or Wheelhouse, spend much less time adjusting rates, since these tools also adjust rates automatically. However, some hosts may prefer to stay in full control of rate adjustments, so the manual nature of MarketMaker could be a benefit. Overall, MarketMaker is a nice addition to the Vrbo host dashboard, but it’s important to remember its limitations. MarketMaker can provide several benefits to property owners or managers who use Vrbo exclusively, but for hosts with larger portfolios or listings on multiple sites, the manual work needed to apply its recommendations is simply too big of an undertaking. The market data, however, can be beneficial for any host, especially to show search volume on high and low demand dates. Have you used Vrbo’s MarketMaker? We’d love to hear about your experience with this tool!  

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Top 30 Vacation Rental Software to Manage Properties in 2020

by
Adrienne Fors
3 weeks ago

Are you wondering how you can streamline and simplify your vacation rental management operations? You don’t necessarily need to hire a third-party management company or a big reservations team to drive online bookings; property management software can do the heavy lifting and make your vacation rental business much smoother. But what exactly can these systems offer you? And which vacation rental property management systems are the best? In this article, we’ll explain exactly what you can expect from a short-term rental property management system and help you pick a system that works well for your business. With a system in place, you can not only run a more efficient business, but also take advantage of marketing opportunities, new listing channels, and exciting integrations with ancillary services.  Before you know it your property won't just be live on major hotel booking sites or vacation rental websites but you'll even have your own website and operations system!   What is Vacation Rental Management Software? In short, a property management system centralizes the reservations and operational tasks for your vacation rentals. Rather than logging into Airbnb, Vrbo, and Booking.com separately to manage reservations and communicate with guests, a property management system lets you do it all in one place. Most vacation rental property management systems offer these basic features: Multi-calendar: One calendar where you can see all reservations from all channels for all of your listings. Reservation management: The reservation system module or CRS as it's called in more sophisticated hotel software gives the ability to change dates, prices, and other details for existing reservations. Channel management: Synchronizing rates, availability, and sometimes content across all listing sites such as AirBnB, VrBO, Homeaway and Flipkey. With a channel manager, you can change your availability in your property management system and let the change be sent across all of your listing channels. Booking engine: Booking software provides the ability to enter direct reservations booked offline (over the phone or in person) or online (via your own website or booking widget) and increase revenue coming from direct channels. Integrations: Most property management systems offer a library of integrations that range from payment processors to dynamic pricing systems to keyless entry solutions. Mobile app: Many vacation rental owners run their properties remotely so if you fit into that category you'll want a dedicated mobile app to run your business on the go wherever and whenever.   What are the Benefits of Vacation Rental Software? Although property management systems do come with a subscription fee or commission, that fee is far less than what it costs vacation rental managers in time and lost bookings when trying to complete those same tasks without them. From the moment you set up your system and sync all of your channels, you can rest assured that you won’t receive a double booking or lose a reservation in the shuffle. These systems also allow vacation rental owners to automate many operational tasks from bookings to guest experience. For example, you can configure check-in templates to be sent automatically before arrival. You could also set up automated text messages for your cleaning staff to alert them when you need a new cleaning. Many property management systems also offer a booking engine, which lets you easily accept direct bookings with major credit cards and other mainstream payment methods to rely less on the online travel agencies.   Vacation Rental Software Basics: Property Management Systems Let’s dive right into some vacation rental property management systems. Note that these are just a few of the many systems available, but they all offer a good combination of features and value.  Each system has its own unique user experience and design to facilitate vacation rental owners in customer acquisition, guest management and general business operations.  Many of these software solutions are also used by small b&bs who need real-time business management capabilities.  These smaller properties are often staffed and run similar to vacation properties of a similar size.   Guesty As one of the most well-known companies in the vacation rental technology space, Guesty offers a lot of value to short-term rental owners and managers who are looking to take their businesses to the next level. The company has generated a lot of buzz, having graduated from the Y Combinator startup incubator and raising nearly $60M in funding (including a $35M series C investment in 2019). Guesty offers all of the standard property management system functionality: a multi-calendar, a messaging tool, and reporting and analysis tools. The system also allows you to set up multiple user accounts with different access levels, create automated message templates and tasks (charging the balance of a reservation on the day of arrival, for example), and manage your listings’ content and photos from one central place. Guesty pushes rates, availability, content, photos, fees, and policies to its direct integration channels, so you don’t need to update this information on each channel individually.      Unique features: The owner view allows you to configure special accounts for property owners to view only their specific properties - a major plus for property managers who manage listings on behalf of several owners. With certain subscription plans, you may also receive access to a dedicated account representative or a 24/7 support line. Integrations: Guesty offers full, direct integrations with Agoda, Airbnb, Booking.com, HomeAway/Vrbo, Misterb&b, and TripAdvisor. Guesty also connects to Rentals United, a channel manager, which provides connections to more than 60 additional channels like Expedia, Housestay, Trip.com, and Google. Guesty’s extensive Marketplace offers integrations with dynamic pricing software (Wheelhouse, PriceLabs), payment processors (Stripe), home automation and monitoring systems (Noiseaware, Minut), luggage storage solutions (LuggageHero), and keyless entry solutions (RemoteLock) - just to name a few. Pricing: Guesty charges a commission between 2% and 5% per booking (including cancelled bookings), depending on how many listings you have. Accounts with more listings receive a lower commission rate. Guesty may also charge a setup fee (sometimes over $1000) depending on the plan you choose. Disadvantages: While Guesty’s direct integrations with the most popular channels are handy, the system does not offer iCal integration. If you use smaller, regional channels (or use an iCal feed for some other purpose), then Guesty may not be the best solution for your business. Bottom Line: Guesty is one of the best short-term rental property management systems available, due to its impressive set of features and integrations. However, the system is also one of the most expensive (especially for high-end properties due to the commission structure), so you will need to decide for yourself whether Guesty’s features justify the cost.   Lodgify Based in Barcelona, Spain, Lodgify offers a beautiful property management system that’s user-friendly and functional. The multi-calendar works well for multiple units, and it’s easy to input reservations manually. The customer service team is always friendly and quick to respond (you can even take advantage of personalized onboarding support), and the company maintains a robust library of resources and blog articles. Unique features: Lodgify’s website builder is one of the best in the market. The tool includes several templates so you can quickly drag and drop widgets and add your own custom text. You can even add videos, maps, and custom code.     Integrations: Lodgify connects directly to Airbnb, Booking.com, and Expedia for rate and availability synchronization. A direct Vrbo is also available if you manage at least 5 properties. For all other channels, Lodgify uses an iCal connection that syncs availability and reservations, but not rates. The system also has free integrations with Mailchimp, Google Analytics, Zapier, and PriceLabs. Some integrations, like Stripe, come with an additional monthly fee. Pricing: After a 7-day free trial, Lodgify’s annual subscriptions for one property start at $12 per month with a 1.9% booking fee, or you can opt for the Professional version ($32 per month) which has no booking fee. For 25 properties, the Professional version costs $220 per month. Monthly subscriptions without an annual commitment cost slightly more. Disadvantages: Lodgify’s automated messaging tool falls short; it does not allow for much customization, especially with trigger timing and contact assignments. Bottom Line: Lodgify is an excellent choice for property managers who want a solid property management system and an eye-catching website without needing to hire a website designer. However, Lodgify doesn’t offer many integrations with third-party services, like keyless locks and dynamic pricing software (only with PriceLabs), so if you use many of these ancillary services, you may want to opt for a different system.   FantasticStay FantasticStay recently acquired Vreasy, a popular short-term rental property management system, but luckily FantasticStay is retaining much of Vreasy’s functionality. The system offers the standard package of calendar management, booking management, and a channel manager, plus a website builder and automated messaging. The user experience is smooth, and the system has a clean, modern look. Unique features: One of FantasticStay’s add-ons is a 24/7 guest response service, so your guests can receive quick responses to inquiries and messages even during the middle of the night or when you’re busy with other things. You can also purchase a revenue management add-on that provides pricing guidance and a customer support add-on that gives you phone support around the clock. Integrations: Direct connections to Airbnb, Vrbo, and Booking.com allow you to update rates and availability from FantasticStay rather than on each site individually. For all other sites, you can sync reservations and availability with an iCal connection. Through Vreasy, integrations to PriceLabs and Quickbooks are available. Pricing: FantasticStay’s basic plan has no monthly subscription fee, just an 0.8% booking fee, for an unlimited number of listings. This plan does not include integrations or any add-ons, like customer support. Higher-tier plans include all integrations, no payment processing fees, and personalized support. The annual Pro plan costs $214 per year for 20-29 listings. Disadvantages: FantasticStay does not offer a direct connection to Expedia (yet), and since the software was originally built for the European market, some tax settings may not work properly for other markets. Bottom Line: FantasticStay is a fantastic choice for Europe-based property managers. It’s also great for property managers who want a low-cost, basic software to manage listings on Airbnb, Vrbo, and Booking.com with no additional integrations via the free plan.   Hostfully In 2018 Hostfully acquired Orbirental, and today Hostfully’s property management system still looks and feels a lot like Orbirental. The system offers a multi-calendar, automated messaging, a booking engine, and channel management for Airbnb, Booking.com, Vrbo, and Tripadvisor. Hostfully also connects to a couple other channel managers, like Rentals United and myBookingPal, which allows you to distribute rates and availability to additional sites.   Unique features: When many property management systems are shifting toward self-service customer support, Hostfully offers plenty of phone support. Even the most basic plan includes two setup calls with a support rep. Hostfully also offers its Digital Guidebooks feature, which is actually separate from the property management system. Even if you don’t use the property management system, you can still purchase a guidebook-only subscription. Integrations: Hostfully has a huge “Integration Zone” which includes integrations with dozens of complementary systems. You can connect to dynamic pricing tools, home automation solutions, cleaning management systems, and even HelloSign for digital signatures. Pricing: Hostfully offers three plans: 1-4 properties pay $79 per month, 5-19 properties pay $189 per month, and 20+ properties pay on a sliding scale depending on the number of listings. 50 listings cost $375 per month. Monthly subscriptions come with a $400 setup fee, but the fee is waived (and you get a small discount!) if you sign an annual contract.  Disadvantages: Some features, like automated text messaging and multiple user access, are not available for accounts with fewer than 5 properties. Hostfully itself doesn’t offer an Expedia connection, but you can connect to Expedia via an integrated channel manager like Rentals United. Bottom Line: Hostfully is perfect for property owners or managers who want a little extra support in the setup process and on an ongoing basis. Though it’s slightly more expensive than other systems, there are no hidden fees or add-ons.   Beds24 Beds24 offers all of the standard property management functionality (multi-calendar, channel manager), plus a booking engine and integrations with several ancillary services. It’s best for property managers who want to take full control of their operations and don’t need much guidance from support representatives, since Beds24 does not offer phone support. Unique features: Beds24 allows for a lot of customization - you can add essentially any restriction, pricing rule, fee, and policy you want, and the system makes it easy for you to set up channel connections on your own without the assistance of a support representative. Integrations: Beds24 offers direct connections to Airbnb, Agoda, Booking.com, Expedia, Vrbo, and Tripadvisor. Several other regional channels are also available, as is iCal import and export functionality. Beds24 also integrates with PriceLabs, Wishbox, Mailchimp, several keyless entry solutions (igloohome, RemoteLock), and several payment processors (PayPal, Stripe).   Pricing: After a 14-day free trial, a Beds24 subscription starts at about $10 per month for one property. Additional properties/units and links to channels cost about $1 each. If you have 5 properties listed on 3 channels each, your monthly fee will be about $20. If you have 50 properties on 3 channels each, the monthly fee is about $70. Disadvantages: Unlike some other systems on this list that have invested heavily in user experience and building a sleek, beautiful interface, Beds24 is a bit clunky. But while it’s not the most fashionable system, it’s certainly functional. Bottom Line: Beds24 packs a lot of features into a very small price. If you’re comfortable with a less user-friendly experience, this system is an excellent value.   iGMS Since its launch in 2015, iGMS has grown to support over 100,000 listings with its property management system. You may know the company by its old name, AirGMS. In addition to a multi-calendar, automated messaging, and booking management, the system offers special functionality for automating cleaning team operations and notifications. Unique features: Some systems only let you set up a direct Airbnb or Vrbo connection to one Airbnb or Vrbo account, but iGMS allows you to configure direct connections with multiple Airbnb accounts, which is a nice option for property managers who list different properties under different profiles. The cleaning management features also help to streamline cleaning operations at scale. Integrations: Direct integrations are available with Airbnb and Vrbo (for rates, availability, and reservation); all other sites use a simple iCal connection. iGMS doesn’t offer much in terms of third-party software integration. Pricing: After a 14-day free trial, iGMS offers two plans: a pay-per-booking plan with a fixed cost (around $1) per booking, or a monthly or yearly subscription with no fees per booking. The “Pro” plan costs $100 per month for 5 properties and includes 24/7 email and phone support. Under the same plan, 20 listings cost $360 per month with an annual subscription. Disadvantages: iGMS does not offer a direct connection with Booking.com or Expedia, making it a less strategic system for property managers or hosts who want to distribute listings on sites beyond Airbnb and Vrbo. As of today, iGMS also does not offer a website builder. Bottom Line: Professional property managers, rather than individual owners or part-time hosts, may get the most benefit from iGMS, especially if your business is focused on Airbnb and Vrbo and not Expedia, Booking.com, or direct bookings.   OwnerRez Catering to the traditional vacation home market, OwnerRez brands itself as “built by owners, for owners.” The company believes in simplicity and transparency, but that doesn’t mean the system lacks functionality. In fact, OwnerRez offers a vast array of features, from a multi-calendar to a guest database to automated message templates and responders. OwnerRez is known for its clean, user-friendly interface and hands-on customer service. The company is open to suggestions and encourages users to let them know about any features they’re missing.   Unique features: OwnerRez offers their own damage protection and travel insurance products. The system also allows you to collect and analyze your guest reviews from a variety of different sites. Integrations: OwnerRez offers integrations with dynamic pricing software (PriceLabs, Beyond Pricing, Perfect Price), several keyless entry systems (RemoteLock, among others), guest communication tools (Wishbox), and QuickBooks (extra fee applies). You can also add an OwnerRez widget to your website via Wordpress, Weebly, SquareSpace, and WIX. Pricing: After a 14-day free trial, OwnerRez charges a monthly fee dependent on the number of listings and a choice of add-on features. With no add-ons, the monthly fee for 5 listings is $28.99 (as of June 2020) and $131.99 for 50 listings. The plans include unlimited bookings. Add-ons include website hosting, channel management, and QuickBooks integration for a few more dollars per month. Disadvantages: iCal imports and exports are included in the monthly fee, but for property managers who want to use the channel management functionality to sync rates, availability, restrictions, content, and policies to sites like Airbnb, Booking.com, Vrbo, and Tripadvisor, you’ll need to pay extra. OwnerRez does not have an integration with Expedia (yet). Bottom Line: OwnerRez is a great choice for cost-conscious property managers who want a lot of features, integrations, and input into the company’s development pipeline.   How to choose the best property management system for your short-term rental business With so many systems to choose from, it’s easy to feel overwhelmed. Take a minute to think about the functionality that matters most to your business. Do you want a great website builder, or do you want to focus on listing your properties on as many channels as possible? Do you want a dedicated support representative or are you comfortable with email support through a queue? And how much are you willing to spend? Once you’ve determined which features are the most important to you - and what your budget looks like - then you can make an educated decision about which property management system works best for your business. If you’re not sure which features you want, then you can sign up for a few free trials and explore several systems. It’s worth investing some time in choosing the right system because your business will become much more efficient in the long term when you’ve partners with a strategic short-term rental property management system.   Complete Your Vacation Rental Software Tech Stack Wondering what should be in your short-term rental tech stack? A property management system is just the tip of the iceberg when it comes to technology that can add value to your vacation rental business. If you’ve ever wanted to automate tasks, run a more efficient operation, offer contactless check-in, or build stronger relationships with your guests, then software can be your secret weapon. This rest of this article will cover software that helps you in four aspects of your business: communication, pricing, operations, and home automation. These cutting-edge companies provide technology that can lead to better guest reviews and an enhanced stay experience - maybe even in ways you didn’t know were possible.   Communication Software Property managers spend a lot of time communicating with guests - and for good reason, since communication can make or break the guest experience. But what if you could automate your messages and give guests the resources they need to answer their own questions? These systems will help you spend less time answering messages like “what’s the WiFi password?” and more time focusing on driving your business forward. Smartbnb: Possibly the best third-party system for automated messaging. Not only can you configure templates, like check-in instructions or notifications for your cleaning team, you can also create responses to frequently asked questions. Smartbnb will automatically send your late check-out policy, for example, whenever a guest messages you about the possibility of a late check-out. Smartbnb has integrations with Airbnb and Vrbo, with a Booking.com integration in the works. Oh, and the interface is super user-friendly.   Wishbox: Wishbox is a one-stop-shop for everything guests need to know about your property between booking and check-out. You can load upsell offers, send automated messages, create a digital guidebook, and monetize early check-ins and late check-outs. Wishbox integrates with many property management systems, like Guesty and Beds24, for a seamless operation. YourPorter: This system started as a simple messaging tool, but it now offers channel management capabilities too. YourPorter allows you to automate every step of the messaging process, from the initial inquiry to a post-stay review. YourPorter works directly with Airbnb, Booking.com, and Vrbo. Hostfully: In addition to its property management system, Hostfully offers a great digital guidebook system, in which you can organize a plethora of information about your property into a nicely formatted guidebook with its own URL. Hostfully’s guidebooks are totally customizable and include space for you to add house manual items, check-in/out info, house rules, area recommendations, and more on “cards” that you can organize however you like. Include your guidebook’s URL in your booking confirmations and check-in instructions for easy access.   Pricing and Market Intelligence Tools You can use all the communication software in the world, but if your vacation rental isn’t priced competitively, your business will suffer. Dynamic pricing tools and sources of market data and trends are two essential types of software to add to your short-term rental tech stack. Dynamic Pricing Do you set your property’s prices manually? If you do, it’s time to start using a dynamic pricing tool that does the heavy lifting for you. These pricing tools analyze tons of market data to come up with pricing recommendations that will increase the likelihood that your place gets bookings - and profitably. You can also add restrictions, blackout dates, and minimum rate thresholds so you don’t need to worry about eroding your value. PriceLabs: Based on minimum, base, and maximum prices that you enter yourself, PriceLabs will set dynamic rates for you and push those rates to Airbnb or your property management system. PriceLabs integrates with several property management systems, who can then push rates to Vrbo, Booking.com, and others. In addition to pricing, you can set restrictions like minimum lengths of stay, and you can use the Market Dashboards feature to get a sense of booking trends in your market. PriceLabs charges a monthly fee per property.     Wheelhouse: Wheelhouse offers tailored, automated dynamic pricing based on your property’s goals and market performance. You can decide if you want the system to focus on more occupancy (and lower rates, likely) or higher rates (and lower occupancy, likely). Wheelhouse can push rates directly to Airbnb and Tripadvisor, and it offers integrations with several property management systems. Wheelhouse charges between 0.75% and 1% per booking.   Beyond Pricing: Like PriceLabs and Wheelhouse, Beyond Pricing also sets dynamic prices based on market data. You can add seasonal minimum rates, restrictions, and additional discounts or price increases based on how far away or close the arrival date is. Beyond Pricing can push rates directly to Airbnb and Vrbo, or it can integrate with several property management systems. Fees range between 1% and 1.25% per booking, plus an implementation fee on some plans.   Market Intelligence & Data Analytics If you’re new to the short-term rental game or considering investing in a new property, it’s a good idea to do some research on average rates, occupancy percentages, and property types in your area. AirDNA and Transparent are two of the industry’s best sources of market data. AirDNA: AirDNA pulls data from Airbnb and Vrbo into its detailed MarketMinder dashboards. These dashboards are available for over 80,000 cities and neighborhoods around the world. Basic data, like the number of rental properties, average rates and revenues, and amenity trends are available for free, and to access more detailed data, you can activate a paid subscription.     Transparent: Using data from Airbnb, Vrbo, Tripadvisor, and Booking.com, Transparent offers extremely detailed insights into market trends. You can track your competitors, watch booking patterns around high-demand dates, and dive into pricing trends. Transparent’s data is only available with a paid subscription.   Operational Solutions Searching for software that will help you make your daily operations more efficient? These companies offer services that any host can benefit from, especially as your short-term rental business grows to include more properties.  Payment Processors Payment processors help you with one of the most important aspects of your business: getting paid! Payment processors allow you to charge credit cards and transfer the funds into your bank account. Some property management systems include a built-in payment processor, but for property owners and managers who need a third-party system, two of the best and most popular are Stripe and PayPal. The two systems are very similar (they even charge the same transaction fees - 2.9% plus $0.30 per transaction), so your decision will come down to simple personal preference or which or the two integrates with your property management system.   Cleaning Management Just as important as getting paid is making sure your vacation rentals are squeaky clean for every guest’s arrival. TurnoverBnB: This system will manage all of your cleaning operations for you, from scheduling to payouts. After you add your cleaning staff’s contact info and set up the connection between TurnoverBnB and your property’s calendar, the system will automatically notify the cleaning team when cleanings are needed. It has a handy mobile app too!   Properly: Properly’s cleaning checklists mean you will never let a guest check in to a property that’s not totally clean again. The system, which offers a sleek mobile app, offers checklists that your cleaning staff can complete as they clean each unit. Cleaners will receive notifications about new cleanings, and you can even set up automatic payments for completed cleanings.   Luggage Storage How many times has a guest asked you if they can drop off their bags before your check-in time? Unless you have a building with a front desk or some other storage facility, you probably can’t offer much in the way of luggage storage - unless you partner with one of these baggage storage solutions! LuggageHero: LuggageHero doesn’t just offer a solution for baggage storage, but property managers can also earn some incremental revenue with their referral program. LuggageHero partners with local businesses to provide secure places to store suitcases. If your property has extra space, you can even become a LuggageHero yourself. Stasher: Like LuggageHero, Stasher partners with local businesses to offer places for your guests to store luggage. You can earn affiliate income when your guests use the service, and you can automate the entire process by including your Stasher link in your booking confirmations or check-in instructions.   On-Property Systems If you manage multiple properties - especially if your properties are scattered across the country or the world - you might want to have insight into (or control over) what’s happening at the property level. On-property devices and software can help you monitor noise, allow self-service check-in, adjust the temperature, and even turn lights on and off. Noise Monitoring and Automation It happens to every host: your neighbors complain about a lot of noise, your guests say they didn’t throw a party, and you’re stuck in the middle. These monitoring and automation systems help you keep a pulse on what’s happening on property even if you’re far away. NoiseAware: NoiseAware offers indoor and outdoor noise sensors that alert you whenever loud, sustained noise happens on property. The system doesn’t record the actual noise, so your guests’ privacy is protected. Roomonitor: Roomonitor monitors noise and sends alerts to you, your guests, or both when the noise level reaches above a certain threshold. Minut: Minut monitors noise, temperature, humidity, and motion. With this information, you know if guests have checked out, if the heat or A/C is still on, or if windows are open. Minut also has a home alarm function for extra security.     Operto: If you use a variety of smart devices in your properties, Operto organizes all of them in one single dashboard. You adjust the temperature via your smart thermostat, check noise levels via your noise monitoring system, manage keyless entry, and even send automated messages to your guests without logging in and out of multiple apps. Brivo: This system enables you to control all of your properties’ smart devices from one place, including smart locks, garage door openers, climate control systems, and noise monitors. The system integrates with several channel managers for even smoother operations. Lynx: Like Operto and Brivo, Lynx offers integrations with many home automation devices - from intercom systems and smart locks to speakers and window coverings.   Lock and Entry Solutions More and more hosts are shifting to tech-powered check-in processes, especially as social distancing guidelines require property managers to adopt contactless check-in procedures. You can find many check-in options that are fully self-service for the guest and don’t require much time investment for the host, like smart keyboxes and keypads. igloohome: igloohome offers stylish entry solutions that work for pretty much every property type and budget. You can choose between keypad locks that you install on your doors, or if you don’t want to do away with keys entirely, igloohome also offers a keybox with a smart keypad. You can reset codes remotely, and the locks do not require WiFi, which greatly extends their battery life. igloohome integrates directly with Airbnb and Booking.com.   RemoteLock: RemoteLock provides software that works with many different smart lock brands, like Kwikset and Schlage. The locks use either WiFi or Bluetooth to allow secure entry with either a passcode or a smartphone confirmation, which you can manage and track from the system’s dashboard. RemoteLock integrates with Airbnb, Vrbo, and many property management systems. -- Ready to run a more efficient, effective, and profitable short-term rental business? These smart software solutions can help you reach your business goals while delighting guests and keeping your neighbors happy.

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A Complete Guide to the Biggest Vacation Rental Websites

by
Adrienne Fors
1 month ago

Deciding to start a vacation rental business - or grow your existing one - is a big decision (especially in the wake of covid-19). But that’s just one of many decisions necessary to turn your goals into reality.  Many of the major hotel booking sites have been expanding into vacation rentals and vice versa as the lines blur between these categories of lodging. The vacation rental world is only getting bigger and more complex with new vacation rental websites popping up every day, and many property owners and managers feel overwhelmed at first. We wanted to eliminate the confusion and put property managers on the path to earning 5-star reviews with as few headaches as possible. That’s why we created our comprehensive guides to the most popular vacation rental websites: Airbnb, Vrbo, Tripadvisor, and Booking.com.  This can also be your guide if you're trying to understand which listing website can help you book the best vacation or getaway. Within these guides, you’ll learn about the basics, like logging in, setting up your property listings and getting support, as well as more complex topics, such as pricing models, service fees and promotional strategies. After reading about each site, you can make informed decisions about what’s best for your business. Do you list on all sites or just one? What can some sites offer you that others can’t? Which sites get the most traffic? Keep reading to learn everything you need to know about selling your property on the top four short-term rental sites.   Airbnb: Your Guide to Getting Started The first step in the Airbnb listing process is to create an account for your vacation rental property. If you’ve booked vacation rentals or Experiences on Airbnb in the past, then you don’t need to create a new account. Unless, of course, you want to keep your business separate from your personal account. If you’re wondering how to set up a new account or check if you already have one, then you’ll want to read our guide to how to log into Airbnb. Once you’ve logged in, then you can start building your listing. You’ll upload your photos, write compelling descriptions, set your rates, outline your house rules, and, when you’re ready, push the listing live. But all of those little steps can make a big impact on your listing’s attractiveness and your business’s bottom line. Our detailed guide to Airbnb FAQs covers all the specifics from refund policies to taxes. If you have any questions along the way, you can always browse Airbnb’s Community Center forum or contact Airbnb’s support team. They’re available via phone or online chat 24/7 and while they charge a hefty booking fee it's actually much better than what is charged by firms like Expedia and Booking to hospitality businesses for selling hotel rooms. Airbnb is one of the most popular travel sites in the world, but that doesn’t necessarily mean it’s the best choice for your business. Airbnb’s competitors can offer different features and commission rates, and some sites even target different types of guests.    Vrbo: Your Guide to Getting Started Like on Airbnb, the first step to listing your property on Vrbo is to create an account and log in. Need help with this step? Check out our guide on how to log into Vrbo. By the way, Vrbo and HomeAway are the same company now and both are owned by Expedia Group. There’s no need to create two separate accounts or two separate listings; your listing will show on both Vrbo and HomeAway automatically. After logging in, you can begin to build your listing. The listing process is similar to Airbnb’s; you’ll write your descriptions, upload photos, check off all those little amenity checkboxes, and choose your subscription plan. Wait, what? You need a subscription plan for Vrbo? This must be one of the most frequently asked questions about Vrbo and HomeAway. Like other vacation rental sites, Vrbo charges a small commission on every reservation if you do not go for the subscription model. The subscription model costs $499 per year, so for hosts and owners who plan to rent full-time, the subscription can make good financial sense. If you have any questions along the way, you can always contact Vrbo support for assistance. When we look at user reviews for Vrbo and Vrbo’s competitors, Vrbo’s support team actually gets great ratings! That’s just one difference between Vrbo and other sites, though. If you’re planning to list a shared space, like a private room in a house, then a site like Airbnb or Booking.com would be a better option. The bread and butter of Vrbo’s business is traditional vacation homes and condos.   Tripadvisor: Your Guide to Getting Started Few travelers book hotels without checking the Tripadvisor reviews first, but Tripadvisor now lets travelers book directly on their site. And we’re not just talking about hotels, but vacation rentals too. Through the Tripadvisor Rentals program, which includes sites like FlipKey and Holiday Lettings, you can make your property available to book on this popular channel. After you’ve set up a Tripadvisor Rentals account, the listing process is quite simple. In fact, it might be the fastest onboarding process out of this group. Compared to Tripadvisor’s competitors, though, the site gets the least amount of monthly visitors, but it can still be a good addition to your vacation rental business strategy.  Like other sites, Tripadvisor operates on a commission model, so there’s no risk in setting up your listing. You’ll only pay the commission on money you earn from reservations. In our guide to listing on Tripadvisor, you can learn more about Tripadvisor’s policies, features, and best practices. Throughout the listing process (and when you’re managing listings that are live), Tripadvisor offers plenty of support options in case you need assistance. The site contains helpful how-to guides, a database of support articles, and a team that you can contact by phone.   Booking.com: Your Guide to Getting Started It’s impossible to write a guide to vacation rental listing sites without including the biggest of them all: Booking.com. This site attracts the most visitors of any travel site in the world, so it seems like an obvious partner for your vacation rental business. Well, not so fast! As you’ll learn in our Booking.com listing guide and our study of Booking.com’s competitors, there are a few reasons why the site might not be the best choice for your business. For one, Booking.com charges a 15% commission - that’s a lot higher than Airbnb’s 3% commission! Despite the cost, Booking.com can bring a lot of value to savvy vacation rental owners. Once you’ve logged into Booking.com and gotten acquainted with their host portal, called the Extranet, you’ll find a slew of market research tools, promotional options, and resources for running a successful hospitality business. Being a massive, global company, Booking.com also offers some of the best customer support out of the vacation rental listing sites. The company has offices in dozens of countries, so no matter what language you speak or what time zone you’re in, you can get great support at any time of day. The Booking.com support team can also communicate with you through the Extranet Inbox, which is conveniently available on desktop and in their Pulse mobile app. Ready to set your vacation rental business up for success? One of the most important steps is choosing which vacation rental listing sites to use. After all, these sites are responsible for bringing potential guests to your property - so it’s a good idea to choose wisely. You’ll also want to consider the time commitment necessary to manage multiple sites. But, after you’ve read our guides to each listing channel, perhaps you want to dive right in and partner with all of them. Whatever you choose, we wish you nothing but happy guests and 5-star reviews!  

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