3 Must-Have Tech for Vacation Rental Professionals

In this post we reveal the 3 unavoidable tech tools you need to run a professional vacation rental business today. Description of what you need + potential companies to contact. Don’t get left behind: invest in these 3 Must-Have Tech for Vacation Rental Professionals today!

IMPORTANT NOTE: Ideally all these 3 different types of tech companies will be connected to each other. When you choose a PMS company for example ask them “Are you connected to a yield management company and a channel manager?“. All these tech focus on their niche and excel at them, they then collaborate with others to make your life easier and provide a complete offer.

1. Yield Management

Yield management is a variable pricing strategy, based on analyzing consumer behavior by understanding, influencing and anticipating the behavior. This is done to maximize revenue or profits from a set, time-limited resource. Yield management is an inventory-focused section of revenue management, with the idea behind it to sell the property to the right guest, for the right price, at the right time. Here are companies which do yield management specifically targeted towards vacation rentals

Outswitch

Outswitch is a yield management solution, which is mainly targeted towards property managers who are using a Property Management System (PMS). By using Outswitch you’ll be able to create smart pricing rules for various groups of properties and use past data to improve your current pricing.

Airdna

Airdna specialises on Airbnb data for you to use as insight when pricing your vacation rentals and analysing your own results. Make use of their Market Reports to understand current trends and opportunities, search for investment locations with their Investment Explorer, or use their Rentalizer; an automated valuation model for short-term rentals, with which you can access comparable rental performance along with monthly revenue, ADR, and occupancy predictions.

Everbooked

Everbooked is an automated pricing system, which is made for Airbnb hosts and managers, with the aim to increase revenue and bookings with their comparable properties and market intelligence tools. When you’ve connected, your prices will automatically be updated in accordance to demand and supply.

Pricelabs

Pricelabs is a revenue management solution specifically targeted for vacation rentals and short-term rentals. Pricelabs uses a data-driven approach, and offers data-driven dynamic pricing, and minimum stay and pricing customization for your specific needs.

Beyond Pricing

Beyond Pricing is an automated dynamic pricing software that works with Airbnb, and other vacation rental listing sites. Beyond Pricing delivers real-time market data to maximize revenue and occupancy rates of their hosts. With Beyond Pricing you’ll be able to preview a year of recommended rates, and then synchronize these prices with your Airbnb calendar. Convenient, ay?

Wheelhouse

Wheelhouse is an automated pricing solution for vacation rentals owners, managers and hosts. They are integrated with Airbnb and TripAdvisor and focus on delivering more revenue with intelligent tools; dynamic pricing, data points, daily updates, and a personalized strategy.

MyRateManager

MyRateManager analyses fluctuations on demand and adjusts to the current market conditions, in real time! Besides this, it also takes into consideration your competition, and monitors your performance and adjusts according to this. MyRateManager can be used on its own, or in combination with a PMS.

2. Channel Management

A channel manager in the vacation rental industry is a software that allows the distribution of properties onto listing sites where a traveller can book the listing. A channel manager will automatically update your rates, calendar, and content. This results in major time savings for a property manager/owner, and simultaneously reduces manual mistakes (e.g. double bookings) and increases the number of bookings.

Rentals United

Rentals United is a new generation channel manager for vacation rental, and we can connect you to over 60 different listing sites (reaching +250 million travellers a month), both large and small. We connect to all the PMS below offering their clients maximum and seamless distribution opportunities.

Rentals United works with global listing sites such as Airbnb, Booking.com, TripAdvisor, Expedia, HomeAway, and Agoda – but we can also connect you to successful niche channels such as Heybnb, Innclusive, VRGuest, Handiscover, Locasun and many more, to target a specific audience. You can take our Channelizer test to see which channels would be most suitable for you, and to find your perfect PMS, take our PMS quiz.

3. Property Management Systems

A Property Management System is a software you can use to better manage your properties and streamline your workflow. A PMS can be used for multiple purposes; It can be used to set up properties, handle your messages, websites, and some even offer concierge services. Ultimately, a PMS helps you to gather all the services in one place and optimize your business.

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Are you using a tool which was not on this list? Comment below!



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