Vacation rentals are becoming increasingly popular as they offer travelers a more authentic experience than traditional hotels. In fact, vacation rentals have proved to be such a draw that Netflix has launched a series devoted to exploring some of the best ones worldwide.
From a Tuscan-style California vineyard to a modern mansion in the Rockies, "The World's Most Amazing Vacation Rentals" spotlight some of the most unique vacation rentals, all bookable on sites like Airbnb and Vrbo.
If you manage vacation rentals, you know how important it is to have good vacation rental management software to save you time and help keep your calendar full. This blog post will look at the top five benefits of using management technology for your vacation rental business.
What is Vacation Rental Management Software?
Vacation rental management software operates different aspects of a rental business. For instance, one program tracks guest reservations and stays, and another distributes your vacation rental listings across major booking sites.
To avoid complicated tech stacks, look for an all-in-one vacation rental management system that does all of the above and much more.
Essential vacation rental management software for your business
In the crowded world of property management solutions, tools, apps, and software, you really only need three essential programs that can manage A-Z of your property operations, including
- Reservations or property management system (PMS)
- Channel management software
- Booking engine with an integrated payment gateway
RoomRaccoon is an all-in-one property management system with multiple modules and core systems such as an integrated booking engine, channel manager, and payment gateway.
Top 5 Benefits of Using a Property Management System (PMS) for Vacation Rentals
1. Increased efficiency and productivity
Time is money. That’s why this is perhaps one of the most important benefits that you can get from using a property management system (PMS). A PMS helps to consolidate and automate many of the administrative tasks that come with being a property owner or manager, including
- Tracking reservations and stays
- Producing folios
- Communicating with guests
- Processing payments
- Reporting and insights
A property management system is a calendar view dashboard that shows you an instant snapshot of your bookings. The RoomRaccoon PMS is colour-coded according to the reservation status: confirmed booking, checked-in, checked-in online, checked-out, and blocked.
By blocking rooms, you can also decide when to accept guests and for how long they can stay, which means you can easily accommodate last-minute bookings or longer stays.
Click a reservation for quick access to guest registration and booking details. From here, you can generate folios, register guests, send emails, payment requests, and much more.
2. Generate more revenue with upsells and dynamic pricing
It's essential to invest in vacation rental management software that helps your business grow. As a seasonal business, you want to maximize the amount of revenue your rentals generate year-round.
This means adopting a dynamic pricing strategy that focuses on your occupancy levels and current demand. While it may sound like a lot of work, you can easily manage your rates with a yield manager that automates this process.
To top it off, you can enjoy a higher average daily rate (ADR) by offering guests relevant add-ons to enhance their stay. For instance, if you manage rustic cabins in the mountains, you could automatically upsell a firewood and smores kit during online check-in.
Think about what your guests would like. Package it, advertise it, and watch your revenue increase!
“Hotels are designed for tourists, but vacation rentals are designed for travelers.”
- Travel vlogger, Jo Franco
3. Keep your rentals in pristine condition
A vacation rental that is kept clean and pristine will help you earn more positive reviews. But keeping your property in tip-top shape can be a challenge. That's where a PMS with an integrated housekeeping module comes in.
This kind of software makes it easy to manage your housekeeping and maintenance team with mobile room allocation and real-time room status updates.
4. Sell your vacation rentals on major sales channels
A surefire way to ensure a constant flow of bookings is to list your rentals on influential sales channels like Booking.com, Expedia, and Airbnb.
However, managing several extranets is tricky and time-consuming. It also means limiting the number of rentals each channel can sell.
The solution? You can easily manage your distribution from a single platform with powerful vacation rental software like a channel manager that keeps your calendar synched to avoid overbookings. Channel management software uses pooled inventory to evenly distribute your rentals across multiple channels and make real-time updates when you receive a booking.
“Travel doesn't need to be this thing that's just for vacation; it can be a way of life.”
Travel vlogger, Jo Franco
5. Enjoy more control over the guest experience
An essential benefit of using property management software to manage your vacation rental is that you can control the quality of the guest experience and build relationships with guests.
Booking engines have become a mandatory part of any vacation rental website — as more than 40% of all bookings are made online these days.
Integrating a booking engine into your vacation rental website means that you’ll enjoy commission-free direct bookings and be able to offer more personalization. You’ll be able to send out branded booking confirmation emails and upsell more add-ons directly through the booking engine. A booking engine also stores guest details in the PMS for post-departure marketing.
Renting out vacation rentals can be a great way to earn extra income, but it can also be a lot of work. Vacation rental management software can help take some of the stress out of managing your rentals by automating tasks and providing tools to help you keep track of everything. Here's a quick recap of the benefits of using property management software:
• Automating tasks such as listing your rental, taking payments, and sending confirmations to guests
• Having all of your rental information in one place, making it easy to track and manage folios and payments
• Access to powerful tools for marketing your rental, upselling extras to guests, and communicating with guests
• The peace of mind that comes with knowing your rentals are being managed effectively and efficiently