What's Your Budget?
Over recent times we’ve seen discernible growth in the short-term vacation rental market. Although it can be a lucrative business, running a vacation rental business can be exceedingly hard work!
As a host, you have to run a smooth operation. From dealing with inquiries and bookings to organizing cleaning and maintenance, there’s plenty to keep you busy, and you have to do it all whilst offering a first-rate guest experience
Fortunately, we live in a digital world where technology has enabled the creation of property management tools. Hosts can now access vacation rental software and invest in state-of-the-art gadgets, designed to simplify their business. So, let’s explore how technology can enhance your vacation rental business.
Install High Tech Home Gadgets
The installation of high-tech home gadgets will result in smoother vacation rental property management and better guest experience. Savvy hosts are incorporating smart lights and smart thermostats that automatically adjust according to the environmental conditions. Thus, providing guests with optimum heat and light when they need it. Automating utilities also helps to keep vacation rental business running costs low, providing healthier profits.
Digital gadgets can be utilized to improve security too. Motion sensors are a useful addition – alerting hosts if guests wander into off-limit or restricted areas. Hosts can also fit a video doorbell, which can help monitor who is coming and going.
Smart locks / keyless entry is also worth considering as another great way to upgrade security. Hosts don’t have to worry about lost keys with automated check-in and check-out, and they no longer need to linger nearby, waiting for guests to arrive. Many guests also prefer the convenience of letting themselves in without having to make small-talk with their host after a long journey.
Finally, how about enhancing guest experience further by adding a virtual concierge for your guest? Gadgets such as Google Home can provide useful information and answer any questions your guests might have, e.g. where to find the nearest coffee shop.
Invest In Vacation Rental Management Software
Running a vacation rental business certainly keeps you busy! As a host, you will face plenty of admin and an endless task list. You need to reply to booking inquiries and answer questions about your property. You also need to update your booking calendar and analyze your pricing policy. Then there’s the cleaning and property maintenance to sort, along with guest reviews to deal with. Phew – it’s no wonder you’re running on empty.
This is even more of a challenge when you’re trying to manage multiple properties on different platforms. How do you keep up with vacation property management when you’re using Airbnb, HomeAway, and several other channels?
Successful hosts set their business on autopilot by utilizing technology for vacation rental management. Companies such as iGMS offer vacation rental management software free of charge for up to 4 properties, which allow you to:
- Automate guest communication
- Manage cleaning and maintenance
- Act as a channel manager
- Generate guest reviews
- Automate key management
- Simplify financial reporting.
Embark On Vacation Rental Marketing To Boost Your Business
You might have the best vacation rental business and the most attractive property on the planet, but if you don’t market it, how will anybody ever know?
Consider advertising your property on more than one rental platform, e.g. Airbnb, Vrbo, etc. Make sure you regularly update your listing, use a catchy title, and flattering photographs. Savvy hosts also get to grips with social media, creating eye-catching Instagram and Facebook posts that draw attention to their property.
Provide A Digital Guestbook
Digital guestbooks look professional and allow hosts to share property information such as how to operate the hot tub and access WIFI. They can also be used to provide details of the nearest railway station, taxi numbers, local restaurants, etc. Digital guidebooks trump paper copies as you can provide guests with all the information they need before arriving at the property, and they can also be easily updated.
Embrace The Power Of Vacation Rental Data & Analytics
Hosts can analyze data relating to the short-term rental market to stay ahead of competitors, maximize occupancy levels, and boost profit. Keep track of city statistics such as the number of rental properties and average daily rates. You can also analyze the performance of your own vacation rental business by installing vacation software tools to compile regular reports.
Use Technology To Grow Your Vacation Rental Business
It’s time to cut back on unnecessary costs, save yourself time, and focus on the growth of your vacation rental business. Utilizing new technology will help you to improve communication, automate day-to-day tasks, and provide a better guest experience. Can you afford not to embrace technology?