In this article, we’ll guide you through the major types of short term rental software and explain the distinctions between them. Following your reading of this post, you should have a better understanding of which software to use for your short-term rental.
Short Term Rental Software Category #1: Property management systems
One of the most helpful types of short term rental software is a property management system. The goal of this kind of software is to collect all of the data pertinent to the daily operations of your properties. A property management system usually has a calendar for displaying and controlling your rates and bookings, a database of your customers, and generally a booking engine that enables you to take direct reservations on your own website.
A number of property management systems also contain incorporated channel management functions, which we can cover afterwards.
Short Term Rental Category #2: Channel managers
The channel manager’s role is to link your property to a number of online travel platforms, such as Airbnb and Vrbo. It ensures that your listed prices, room availability and, occasionally, details about your property are sent over to the particular travel agencies. The channel manager also retrieves booking information from those sites.
Certain property management platforms include channel control features, so the data on your PMS calendar is directly fed to the associated OTAs. On the other hand, some systems are used in conjunction with an outside channel manager, so the exchange of information goes from your PMS to the channel supervisor and lastly to the booking website; after that, bookings return through the channel administrator to your PMS.
BookingSync and iGMS have channel management tools, while Rentals United is a third-party channel manager.
Short Term Rental Category #3: Dynamic pricing tools
To make sure your rental property is continually being offered at a competitive rate, you could either dedicate hours to seeing what competitor properties are charging and then updating your own charges in response, or you could take advantage of a dynamic pricing software that will do the job for you.
These systems continually check prices, demand, and market styles, and they craft bespoke rate proposals for your accommodations that their algorithms assume will result in more reservations. With details such as location, number of bedrooms, and previous rates taken into consideration, they modify your rates manually in order to maximize occupancy and income.
Short Term Rental Category #4: Guest communication software
Once you have connected to your platforms and established realistic rates, it is essential to interact with your visitors in order to deliver a problem-free experience. Composing emails and personally responding to messages can be laborious, so using guest communication software can help raise productivity and automation of your contact methods.
Communication software for visitors involves the use of programmed message models, electronic manuals, messaging apps, appointment and authentication mechanisms, and alike automated response setups that adopt AI to answer queries from customers on one’s behalf.
Short Term Rental Software Category #5: On-property software
Along with tools that assist with advertising and bookings, property managers can take advantage of software on site that improves the stay for guests. This type of software can also be useful to those in charge of properties at a distance.
Various kinds of internal software can be found: sound trackers that alert you as soon as volume surpasses a predefined boundary, smoke alarms that rapidly notify you, air conditioning systems operated via an application, and contactless check-in enabled by key less entry systems.
What benefits do you think software brings to a short term rental company? Are there any excellent suppliers of this kind of technology that you can suggest? We’d be very interested in hearing your thoughts.
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