The vacation rental sector is flourishing with each passing year. Gone are the days when hotels were the only go-to destinations for travelers. There are more accessible and alternative options available today.
To our surprise, by 2023, the vacation rental industry’s revenue is estimated to increase to US$96.85bn.
On top of that, by 2027, the total revenue generated in the vacation rental sector will solely come from online sales.
From the above stats, it can be anticipated that vacation rental software will continue to play a major role in the growth of this sector.
You’ve come to the right place if you’re unaware of vacation rental software. In this article, we’ll learn everything you need to know about vacation rental software!
What is a Vacation Rental Software?
Vacation rental software automates all processes involved in vacation rental facilities. This comprehensive software lets property owners and managers streamline the entire management of vacation rental properties.
Whether it’s property listings, reservations, communication, or financial transactions, vacation rental software helps you do it all with a few clicks.
This centralized system incorporates a variety of great features and tools. These tools facilitate the streamlined and optimized operation of vacation rental properties.
Some non-negotiable features of vacation rental software are:
- Create and manage property listings across multiple online platforms and booking channels
- Integrated online booking capabilities for a streamlined experience
- Convenience in carrying out communication with guests
- Robust feedback systems, including reviews and ratings
With the help of feature-rich vacation rental software, property owners and managers can ultimately increase the efficiency of their business while boosting revenue.
Benefits of Vacation Rental Software
Time-saving
One of the most significant benefits of implementing vacation rental software is that you can automate time-consuming and monotonous chores. There’s no need to waste your time on mundane tasks that need back-and-forth communication or hassle.
It handles several day-to-day chores, such as handling reservations, streamlining check-ins and checkouts, and overlooking property availability. It reduces time and the headache of overlooking everything on your own.
Another major benefit of vacation rental software is calendar synchronization across various channels. This feature manually updates the availability, reservation, etc., without manual work.
Manage your rental properties from one central login
Property owners having multiple rental properties can optimize overlooking all the properties.
To handle multiple rental properties, vacation rental software comes to the rescue! A vacation rental platform comes with the convenience of one central login, allowing property owners to monitor and control everything under one roof.
It eliminates the hassle of keeping up with different logins for every property. Thus, lets you get more done in less time without any complications.
Ease of managing multiple rental channels
A good vacation rental software lets property owners integrate all rental channels in one place. Centralizing all rental operations streamlines the process of listing, booking, and managing properties across various channels such as Airbnb, Vrbo, Booking.com, and more.
With vacation rental software, property owners and managers can easily synchronize their listings, ensuring accurate availability and pricing information across all platforms.
More control with your vacation rental website
Thanks to vacation rental software, property owners and managers get increased control over their vacation rental websites. It happens in several different ways.
Vacation rental software offers a centralized platform with a high degree of control. It allows you to seamlessly update and market your properties while automatically updating availability information and alluring descriptions.
Additionally, the software frequently includes integrated booking calendars alongside automated reservation management systems.
Convenience of payment
Vacation rental software can be of great help when it comes to payment processing and increasing revenue.
An exceptional vacation rental platform integrates various secured payment methods with SSL encryption. It includes credit cards, online banking transfers, and even digital wallets. It allows visitors to select the most practical and preferred way of payment. As a result, customer satisfaction increases.
On top of that, for enhanced exposure, you can even expand your business to foreign markets. It can be achieved by allowing different currencies through a secured payment gateway.
Increased revenue
Vacation rental software provides valuable tools and services that contribute to driving more revenue. This software unlocks optimal bookings and earnings by reaching a wider audience and boosting awareness.
It enables effective and unified management of bookings, prices, and availability across several web platforms. It ensures maximum occupancy and minimizes double bookings.
Additionally, vacation rental software typically has dynamic pricing options. As a result, property managers can modify rates in response to demand, seasonal trends, and competitor analysis, thereby optimizing rental income.
Types of Vacation Rental Software
#1. Property Management Systems (PMS)
Property Management Systems (PMS) are a kind of software with complete vacation rental solutions. They extend many services, such as booking administration, reservation calendars, invoicing, maintenance tracking, guest communication, etc. PMS solutions allow property managers and owners to streamline business chores with a unified dashboard.
#2. Channel Managers
Channel Managers are software tools for vacation rental owners that enable them to synchronize their property listings across numerous booking channels. Channel managers facilitate optimal occupancy, reduce the risk of double bookings, and help reach a wider audience. This software helps take control of everything from a single interface, including availability, pricing, and bookings.
#3. Online Travel Agencies (OTAs)
Vacation rental properties and travelers are linked through online travel agencies (OTAs). They offer a platform for owners to advertise their rental properties and get more exposure. OTAs frequently provide extra services, including safe payment processing, visitor confirmation, and customer service. OTAs’ reach and marketing power can help property owners increase bookings.
#4. Vacation Rental Marketplaces
Vacation rental marketplaces, like Airbnb, VRBO, and HomeAway, are internet services that link travelers looking for lodging with property owners. These online markets allow property owners to list their properties, present them with pictures and descriptions, determine prices, and handle bookings. Marketplaces for vacation rentals frequently have built-in review systems and enable safe payments, offering a reliable platform.
Factors to consider when choosing Vacation Rental Software
While choosing vacation rental software, it’s critical to mark up the list of your business needs. Good software is the one that possesses the following traits:
Pricing
Pricing is the essential factor to consider when looking out for value-for-money vacation rental software. Property owners must estimate their budget in advance to see whether it aligns with their budget and the value it provides.
Understanding the pricing structure, including any subscription fees or transactional costs, helps decide whether the software is worth your money or not.
Features
Before investing in vacation rental software, you need to determine whether the features provided by the software meet your specific requirements.
Look for features such as booking management, channel integration, reporting tools, automation capabilities, and guest communication to streamline your operations and drive growth.
Functionality
The software’s functionality is determined by its overall performance and reliability.
To ensure optimal functionality, consider system stability, response time, data security, etc. It will help you understand whether it’s a pass for your unique business needs.
User-friendly interface
A user-friendly interface allows easy navigation and ensures productive usage. Consider an intuitive design, clear organization, and smooth user experience.
The right software comes with an easy-to-use interface allowing you to easily manage your rental business without any complications. The ease of using the software is essential for enhancing productivity.
Integration capabilities
The integration capabilities of vacation rental software are another important consideration. You want to make sure that the software you’re choosing is easily integrated with other tools and platforms you use.
They can be channel managers, accounting software, or property websites. Integrating multiple systems allows for smooth data synchronization and minimizes manual work.
Customer support
While streamlining your operations through vacation rental software, property owners want to have a seamless experience. To ensure that reliable customer support is needed from the end of the platform.
It will help you address any technical issues or inquiries promptly. Consider software with instant and good customer support through multiple channels to avoid complications.
User reviews and ratings
User reviews and ratings tell you how their previous customers feel about their services. And getting to know about them from a customer will help you decide whether they’re the one.
By checking the reviews, you can make an informed decision and select a reliable and well-regarded vacation rental software solution by considering its strengths, drawbacks, and overall satisfaction levels.
Now, you know how to choose the vacation rental software as a property manager, and we have also curated a list of the best Vacation Rental Software to help you choose the best software according to your requirements.
Uplisting
Uplisting offers convenient and cutting-edge amenities. It lets you automate, manage, and promote your vacation rental services.
Uplisting’s integrated channel management functionality is worth appreciating. It ensures seamless management across different platforms, maximizes exposure, and ultimately increases bookings. This award-winning tool also assists in making data-driven decisions through its advanced reporting technology.
Uplisting has simplified pricing criteria with a calculator that helps you estimate the costs. The minimum limit is 30 properties, and there’s no maximum limit.
Lodgify
Lodgify provides managers with superior scalable solutions that make exponential growth a breeze. With Lodgify, property owners can experience growth in their bookings and revenue.
Their award-winning technology lets you automate every burdening task so that you can focus on more complex chores. With Lodgify, users can effortlessly manage their rental properties, streamline booking processes, and optimize revenue generation.
Lodgify has three paid plans with different offers and features. The lowest value plan starts from as low as $13 per month. These plans also come with a 7-day free trial.
Hostaway
Hostaway is a leading and cutting-edge vacation rental software for all your needs. On top of offering you robust vacation rental services, Hostaway is also an Airbnb Management System.
This software lets you automate and optimize your daily business operations in seconds. The best part about Hostaway is its integrity, with 100+ partner tools, including Airbnb,
Hostaway doesn’t have to speak a word about its customer support; the reviews say it all. Their award-winning customer support helps property owners in every aspect of business operations. Overall, it’s one of the best vacation rental software.
iGMS
iGMS is a one-stop solution for managing multiple rental properties on different channels. This cutting-edge tool eliminates the headache of double bookings or unanswered customer calls.
All you need is one software that tackles everything you have in line. It takes care of everything from everyday check-ins/checkouts to availability to pricing. Want more? iGMS also offers a mobile application, simplifying the entire management process.
iGMS has multiple paid plans depending on the number of properties you want to manage. They have a Lite plan, a Flex plan, a Pro plan, and a customizable enterprise plan.
Hospitable
Hospitable is a unique vacation rental software offering managers next-level automation options. It has unique features, including advanced automation capabilities and extensive integration options, making it an ideal option for property owners to consider.
One of its standout features is the remarkable set of integrations it boasts. Most popular platforms, including Vrbo, Booking.com, etc., can be integrated with this software.
The pricing range differs depending on the number of properties you want to manage and overlook.
Guesty
Guesty is a versatile and adaptable option for property managers who want to offer exceptional hospitality. With this platform, one single centralized dashboard makes the entire hospitality operation manageable.
Calendar synchronization, unified inbox, and automation tools are among its elite feature range. Its dedicated customer support and regular software updates make it a reliable platform for enhancing business operations.
Guesty doesn’t offer a one-size-fits-all solution. They have custom plans for every type and size of vacation rental business.
Escapia
Escapia is an all-in-one vacation rental platform that assists you in managing short-term rentals and bookings, communicating with guests, and more. This fully-featured platform provides you with robust technology of signatures platform, reporting capability, multiple distribution channels, and more.
Its user-friendly interface allows for easy navigation. Its robust reservation management system also efficiently handles booking inquiries and availability calendars. Down the line, this is a great tool to ultimately achieve greater success in vacation rental management.
Escapia offers a great customized pricing solution based on the number of properties you’d like to manage.
Hosthub
Hosthub lets you keep your mundane tasks running even when you sleep. It’s the ultimate platform that lets you provide top-notch experiences to the guests. The best part about Hosthub is that it lets you sync your availability calendar across 200+ channels in real time.
They guarantee a 100% success rate in reducing double-booking cases. Hosthub is a suitable option for all rental business owners looking to save time and get more done faster.
Hosthub has many paid plans with different offers; Channel Manager + PMS, Revenue Booster, Website Builder, and Booking Engine. For more than 100 rentals, they also have a scheme of customized plans as well.
Hospiria
Hospiria is an end-to-end solution for short-term rentals. It’s an outstanding option for property managers looking to scale up while keeping the daily tasks running efficiently.
So if you get more bookings and increase revenue without feeling overwhelmed, you might love what Hospiria offers. Its key features include online booking, availability updates, seamless communication systems, guest management, and more.
Hospiria has multiple packages; Basic, Standard, and Premium. They’re also open to offering customized plans.
Wrapping-up
Vacation rental software has become essential for property owners and managers who want to streamline operations and increase sales. Choosing the right vacation rental software can be a game-changer for your business. Embracing this robust technology can put you ahead of your competitors and simultaneously enable exceptional customer experience services.
