Vacation rental software is making it easier to run a vacation rental property. The increasing competition in the vacation rental industry has made software tools become essential for property managers to organise tasks, save time, increase their occupancy and maximise their revenue.
Property Management Software and Channel Management are the two most common software used by vacation rental management. In fact, according toTransparent’s 2018 European Vacation Rental Survey 67% of property managers said they used a Channel Management software and 59% of property managers used a Property Management Software.
A Property Management Software (PMS) is a programme that helps property managers manage their listings. It combines their daily tasks into one programme, saving time and money, and providing clients with better customer service.
Manually managing all the tasks associated with vacation rentals is overwhelming. Although each Property Management Software is different, they allow property managers to organize and automate their daily tasks. In general, they help property managers manage their accounts and streamline bookings, keep financial records balanced and track maintenance progress. Some softwares also include a professional website design.
Common features of Property Management Software
There are a variety of Property Management Software available, however the majority have the following futures:
Why use Property Management Software?
A Channel Manager is a system that puts your listings on multiple channels whilst syncing all the information.
Channel Managers display properties across vacation rental portals and online travel agencies (OTAs), such as Booking.com, TripAdvisor, HomeAway and Airbnb. When a booking is made on one channel, it will be synced across all the channels. This enables property managers to market their listings across all channels, so that it is available to the widest possible audience, whilst also preventing overbookings.
There are a number of online travel agents that tailor for specific types of vacation rental properties so it is important to ensure that your properties target your audience.
There are a vast number of online travel agents and property managers must determine which channels they should post their listings to drive optimal bookings. Property managers must embrace technology tools that automate the distribution of their listing and channel managers are crucial in ensuring a successful distribution strategy.
The constant supply of vacation rental properties available on the market and the demand for vacation rental properties is rising. Channel manager technology enables property managers to increase their bookings, maximize occupancy and optimize revenue, increasing the probability of their property being booked.
Transparent’s Rate & Demand Dashboards use software that helps empower and enhance property managers’ knowledge of the vacation rental industry. Transparent tracks millions of listings worldwide, providing you with all the data in a simple dashboard to ensure that you are optimizing prices and that your rates are aligned with the market.