Transitioning from a full-service property management firm to self-management of short-term rentals can be an intimidating task. However, with the right tools and technologies, the transition can be seamless and cost-effective. In this blog post, we will explore some of the technologies and tools that can help you make the transition.
Channel Management Software
Channel management software is a tool that helps vacation rental owners manage their listings across multiple online platforms, such as Airbnb, Booking.com, and VRBO. This software allows owners to update their availability, pricing, and property information across all platforms in real-time, which can save a lot of time and reduce the risk of double bookings. Some examples of channel management software include Rentals United, Hostaway, and Guesty.
Automated Messaging
As a self-managing vacation rental owner, responding to guest inquiries, confirming bookings, and sending check-in instructions can take up a significant amount of time. Automated messaging tools, such as Smartbnb and Hostfully, can help automate these tasks, saving owners a lot of time and hassle. These tools can send personalized messages to guests before and after their stay, provide check-in instructions, and even answer frequently asked questions.
Keyless Entry Systems
Keyless entry systems can save owners time and hassle by allowing guests to enter the property without having to meet them in person. These systems can be installed on doors and gates and can be programmed with unique codes that expire after each guest’s stay. Some examples of keyless entry systems include August Smart Lock, Yale Assure Lock, and Kwikset Kevo.
Smart Home Automation
Smart home automation can help owners manage their properties remotely, saving time and reducing energy costs. Smart thermostats, such as Nest and Ecobee, can help manage heating and cooling remotely, while smart lighting systems, such as Philips Hue and LIFX, can be programmed to turn off when guests leave the property.
Property Management Software
Property management software can help vacation rental owners manage their properties’ maintenance, housekeeping, and finances. These tools can track expenses, generate financial reports, and even automate accounting tasks. Some examples of property management software include Buildium, Appfolio, and Rent Manager.
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Network of service providers
One of the main benefits of working with a traditional property manager is their established network of service providers. Property managers often have relationships with contractors, vendors, and suppliers in the local community, which can be beneficial when it comes to property maintenance, repairs, and upgrades. As a self-managing vacation rental owner, it’s important to establish your own network of service providers to ensure that your property is properly maintained and any necessary repairs are completed promptly.
Having a network of reliable service providers can also help you save money in the long run. For example, if you need a plumber to fix a leaky faucet, your property manager may have a preferred vendor who can complete the job at a discounted rate. As a self-managing owner, you’ll need to establish your own relationships with local contractors and negotiate rates for services.
Conclusion
While self-managing your vacation rental property has its benefits, there are also some downsides to consider. For example, managing a vacation rental property can be time-consuming, especially if you have multiple properties or if you live far away from the property. Property managers can handle day-to-day tasks such as guest communication, booking management, and property maintenance, which can save owners a lot of time and hassle.
However, with the right technologies and tools, this transition can be seamless and cost-effective. Establishing a network of reliable service providers is crucial for maintaining the property and saving money in the long run. Channel management software, automated messaging tools, keyless entry systems, smart home automation, and property management software can all help owners manage their vacation rental properties efficiently and effectively.
However, traditional property managers can offer benefits such as time savings, advanced marketing and advertising tools, and experience with pricing strategies.
