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.
Unlock to get a list of the 27 most significant property management systems worldwide
Vreasy
Vreasy is a Property Management System based in the US, but operates worldwide. With Vreasy you can manage bookings, staff duties, enquiries, owners and guest services.
365Villas
With 365Villas you can achieve peak occupancy, radically reduce your work, and be more professional.
Ciirus
Ciirus has been operating since 2005, with the goal to provide revolutionary software that gives their customer a competitive advantage.
iProsoftware
Powerful CRM based booking management solution for the self-catering industry. With iProsoftware you’ll get features such as booking management, contact management, lead management, and a website design.
Klik-Villas
Klik-Villas is a complete modular system to grow your income and save time so you can focus on quality guest service.
Guesty
Guesty is a Property Management Platform for Airbnb and Vacation Rentals. With Guesty you can organize, share and control all your reservations, guests and listings data.
Elina
Elina is a smart, commission free property management system, built for serviced apartments and vacation rentals with the end-user in mind. No matter where you’re located or how large your team is, you can easily manage your properties.
VRBookings
VRBookings offers solutions to manage all the issues related to vacation rentals. This meaning, whether you are a single house owner, or you have hundreds of properties, you can use VRBookings to perform your tasks with their property management system.
Bookerator
Bookerator is a free to use PMS platform, for owners and managers of vacation rental properties who want to easily increase their bookings and revenues.
Rentability
Rentability is an All-In-One vacation rental software for holiday villas and city apartments. They have an integrated property for reservations management, property management, payments management, and guests management.
MPConcept
MPConcept is an expert software for vacation rentals. They are using a new PMS system called Helios. MPConcept is located in France, and is targeted for French consumers.
Tabs
Tabs is a market leading holiday cottage booking software for UK cottage agents. It is designed by the cottage industry, for the cottage industry! It’s a leading system used all over the UK.
BookingSync
BookingSync is French start-up, and a cloud based VR management platform, and their ultimate goal is to simplify the lives of vacation rental managers, owners and agencies.
Orbirental
Orbirental is a time-driven booking engine and provides an innovative and open technology platform for the vacation rental industry.
Streamline
Streamline is an innovative vacation rental software, built by property managers, for property managers.
Egluu
Egluu has over 10 years of experience, and focuses on developing booking systems and customized management solutions for vacation rental businesses, and holiday apartments.
Magarental
Magarental offers unique features combined into an integrated solution that makes vacation rental owners operations management easier and more efficient. Present your properties more effectively, and manage the owners, welcome service, cleaning service and agencies smooth and simple.
Holigest
Holigest is an Italian management company for B&B’s, vacation rentals and apartments. It is designed to help you with everyday tasks such as accommodation, customers, and bookings in the most simple and intuitive manner. Holigest solely focuses on the Italian market, so if you have properties in Italy, this could be the PMS for you.
Hostogether
Use Hostogehter’s modular rental management system to grow your business, and save time while providing service quality for your clients. Generate bookings from social networks with simple promotional tools, and have other hosts recommending your properties to their guests in the Hostogether community.
Megabooker
Megabooker is a Croatian PMS whose philosophy is to empower others to sell, provide better services, and make their customers more powerful, with their technology, innovation and partners.
Anytime Booking
Anytime Booking is an online booking, reservation, and management software for vacation rentals, campsites and holiday parks. Their mission is to provide quality and cost effective online booking systems.
Barefoot technologies corporation
Barefoot is an All-In-One Software for Vacation rental management. It is built on the foundation and strength of the established, cloud-based solution in the VR industry.
HomeAway Software
HomeAway Software is a software and reservation system for professional property management. Their aim is to provide a make-everything-go-smoothly-vacation-rental-software!
Bookster
Bookster is the solution for your VR business – It’s the solution for vacation rental websites, and taking bookings and payments.
Xnotta
Xnotta is a cloud property management system based in Italy targeted towards Italian properties. Xnotta works with apartments, B&B’s, holiday villas, and even farms.
Res Harmonics
Res:harmonics is an online based PMS for private rentals, serviced apartments, and holiday rental providers for property owners and managers.
Uw Boeking
Uw Boeking is an online booking system, it is a total solution for complete administrative processing of reservations and marketing for your properties.
Are you using a tool which was not on this list? Comment below!
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