July 14, 2022
Managing a vacation rental property comes with a number of unique challenges, but the right tools, including a vacation rental booking software, can help improve your daily operations.
With so many options available, how do you know which platform is the right one for your business? Below, we’ll discuss five must-have modern features when choosing a vacation rental management software:
What Software Features Do I Need To Successfully Run My Vacation Rental Property?
Direct Online Booking
Allowing your guests to make reservations online is one of the most effective ways to increase your vacation rental revenue. Most adults — 83%, according to Stratos Jet Charters — want to book their trips online.
Furthermore, many guests book their trips entirely online; Stratos Jet Charters also reported that “Of the 148 million online travel bookings in 2018, 82% occurred without any human interaction, via a mobile app or website.”
The popularity of online booking is primarily due to:
- Convenience. Online booking saves time for both your customers and your staff by decreasing the amount of time spent manually booking stays over the phone.
- Simplified booking and upselling processes. Through online booking, your property’s vacancy is automatically updated, reducing your chances of overbooking. In addition, you can easily upsell any additional amenities to your guests through online reservations.
- Increased revenue. In addition to additional revenue from upsells, your vacation rental property can save money by avoiding OTA booking fees.
With the option to allow your guests to book directly with your vacation rental, you can simplify the process for everyone while enjoying increased revenue.
The top cloud-based vacation rental booking software platforms feature a guest portal that allows your visitors to manage their reservations and access their bookings any time, from anywhere.
These portals may also improve proactive guest communication, empower visitors to modify their reservations as needed, and make payments. Your staff can also prepare for your guests’ arrival by asking about any necessary accommodations or preferences before they arrive.
With a channel manager, you can expand your vacation rental listings across the internet to expand your digital presence, increase your revenue, and synchronize bookings from external channels into your vacation rental software. You can:
- Manage multiple external booking channels to ensure your rates are aligned across platforms.
- Get real-time booking updates for your direct bookings and OTAs.
- Avoid overbooking through instant updates.
With an effective channel manager within your vacation rental management software, you no longer have to worry about overbookings, delayed updates, or similar concerns. Your team can spend less time managing your reservations and more time focused on creating a remarkable experience for your guests.
Though the vacation rental software you choose for your business will have several essential, modern features built-in, you’ll still want to ensure that you can integrate other tools as well.
This allows you to continue using your team’s favorite tools, extend the functionality of the software, and more.
You can use these integrations to:
- Share listings on OTAs to increase your bookings.
- Utilize payment processing systems to streamline your reservation process.
- Implement new technology into your vacation rentals, such as keyless entry or other smart technology.
With the ability to integrate your vacation rental software with other tools, you can make sure your business is accomplishing everything from one modern, centralized platform.
In order to understand and grow your business, you’ll need insights into your data. Top online vacation rental software platforms should include a powerful reporting module that allows you simplified access to your data through a cloud-based platform.
This data can help you understand:
- Booking highs and lows so you can plan for the following year.
- The impact of a specific marketing campaign so you can optimize your strategies and reach your target audience.
- The details of positive guest experiences so you and your team can recreate these moments for others.
With these robust analytics and reporting capabilities, your team can make data-driven decisions about your business to elevate your vacation rental property.
Find the Right Vacation Rental Software for Your Business
These tools are just some of the examples of how you can benefit from the right platform. A vacation rental booking software with updated functionality can truly set your business up for success in several ways, including by:
- Providing you with the tools and features to support your daily operations.
- Freeing up time for your staff to create more efficient and productive work days.
- Improving the guest experience at your property so each guest feels welcome.
Learn how the ideal booking software can play a key role in the success of your business operations. Download the Ultimate Guide to All In One Hotel Management Software today!