Every corner of your vacation rental business is an investment, from listing photography to the pillow your guests sleep on.
Before purchasing anything, it’s sensible to shop around. Purchasing without doing your research first or reading reviews can be a considerable risk, particularly if the success of your business relies on this investment. Whether it’s a brand new property, cleaning services, or high-tech security, you must secure the best service, quality, and price possible.
The same applies to short-term rental software. The right system can be an excellent investment for your business - but only if it’s the right one for your needs. With the right tools and features, short-term rental property management software can play a huge role in the success of your business, enabling you to efficiently manage listings, automate processes, and enhance the guest experience. Generally, hosts with three or more units are the most likely to seek external help for operations and services.
Here’s what to consider when shopping for short-term rental software.
Firstly, it’s essential to work out precisely what you need from a short-term rental software solution. Make a list of your business pain points and look for vacation rental software that targets these. Perhaps you struggle to keep up with guest communication or have been experiencing double bookings.
When identifying your business needs, it’s crucial to look ahead. While you may only want to synchronize your channel listings today, you’ll likely require a more comprehensive tool as your business grows - so it’s sensible to choose a tool that can grow with you.
The global property management software market size was valued at USD 3.04 billion in 2021 and is expected to grow by 5.6% from 2022 to 2030. Of course, you can’t compare and analyze every platform and company, but it’s important to do some comparative research before settling on one. Take the time to learn about other customers’ experiences by reading reviews; were they happy with the service? Did they experience any issues?
Make sure the company works with customers like you. If you only have five properties, you don’t want to select a software solution specifically developed to support large and established portfolios. Alternatively, you don’t want to work with a company that only supports start-ups if you have ambitious plans to scale quickly.
A credible property management company will be happy to display customer case studies and success stories. They will also be transparent about pricing and fees, allowing you to make the right decision for your short-term rental business.
Don’t overlook pricing; instead, work out your budget and stick to it.
Many companies charge a percentage per booking, resulting in a higher fee than advertised. The last thing you want is to be caught out by hidden costs; not only does this make it difficult to plan ahead, but it can affect your entire cash flow.
Look for short-term rental software that doesn’t charge you a commission on bookings. Don’t be afraid to ask upfront about set-up fees, cancellation fees, contracts, and support charges. All of these can contribute to a far higher cost than initially advertised.
The best way to discover if a short-term rental software solution is right for you is to give it a go. Most vacation rental software companies provide a free trial or demo, allowing users to try out features and test the interface before committing financially. This is an efficient and cost-effective way to determine if the software meets your specific business needs.
When testing out a property management platform, consider the ease of use. Remember, you’ll be using this software to carry out daily tasks, automate processes, and effectively manage your short-term rental business, so it needs to work for you.
Ensure it integrates with all the channels you need, and always pay attention to security features as you’ll accept payments and deposits through this software.
The right short-term rental software can elevate your business to the next level - but only if it’s the right one. Customer testimonials are invaluable when searching for a reliable property management system, but don’t forget to consider pricing and features too.
Uplisting is a short-term rental property and channel management software built specifically for helping managers scale their businesses. Designed with you in mind, our all-in-one system helps you grow your short-term rental revenue and streamline your business.
We’ve built an all-in-one property, channel management and automation tool to help property managers scale seamlessly.