Management software is not only used in the hotel industry. More and more people who own vacation properties are also beginning to recognise the benefits – and rightly so. Because these programs reduce errors and administrative outlay, saving hosts valuable time and money.
What is property management software (PMS)?
PMS is software that automates and streamlines the management of your vacation rentals. The software syncs your bookings, availability and prices on various booking platforms in real time and completely automatically. This means you no longer have to deal with double bookings, for example. By using property management software (like iGMS for example), you have a full overview of the occupancy of your vacation property. Since everything is done on a central platform, the management process is much easier and less time-consuming. There is a large selection of providers that differ mainly in terms of price structure and external integration partners. However, generally speaking, most manufacturers offer a similar selection of basic functions.
What functions does software for managing your vacation property offer you?
The most common basic functions include the reservation system, the channel manager, the payment processing system along with statistics & KPIs, digital guest directories, website builders and many more.
Reservation system or PMS (property management system): helps you manage your vacation property more efficiently. You can see all bookings and the associated information using a central calendar.
Channel manager: syncs your bookings across all connected booking portals (e.g. Airbnb, Booking.com, FeWo-Direkt, etc.). But direct bookings made through your own website and any manual changes are also synced directly.
The benefits of management software
The functions of PMS are worthwhile even if you’re offering your vacation rental on just one booking platform. However, using this software delivers enormous efficiency gains as soon as you start offering your property on at least two different booking platforms, such as Airbnb and Booking.com. That’s when the advantages of booking synchronization become clear. A survey conducted with users of the PMS smoobu also confirms that the possibility of efficient and profitable letting is one of the main reasons for using a PMS.
Management software check
Not sure if you need a PMS for your vacation rental? Answer these questions to find out:
- Are you the landlord or manager of at least one vacation property?
- Do you offer your vacation property on more than one booking platform?
- Do you want to standardise and optimise the booking management process?
- Do you want to make renting out your accommodation more efficient, while saving time and money?
- Have you ever had to cancel a reservation due to a double booking?
If you answered “yes” to at least 4 of these 5 questions, you should consider using management software for your rental business.
We have summarised the key information about the management software for you here:
Rent out properties more efficiently
As soon as you start using management software, you have a virtual assistant at your side. It takes care of routine tasks, such as synchronisation between booking portals, and gives you the time to concentrate on other tasks. The more properties you rent out, the more complex your rental business becomes and the more important it is for you to use a PMS. It helps you keep track of everything and makes even complex processes manageable. More than 94% of the surveyed smoobu users also cite synchronisation between portals and communication with guests via a portal as the most important features of a PMS.
Keep track of everything and achieve a higher utilisation
Bookings, cancellations, prices, peak and off-peak season, communication with guests… there are so many things you have to keep an eye on as a landlord. The PMS helps you manage your property and prevents errors such as overbooking or double bookings. This way, you can easily offer your accommodation on several booking portals at the same time. This means your accommodation can be found by even more guests, so you can achieve a higher occupancy rate.
External integration partners
In addition to the basic functions, many providers offer links with a variety of integration partners. For example, service providers for payments, cleaning and human resources or suppliers of electronic access systems, etc. can all be linked to the PMS. The survey results show that payment service providers such as PayPal, followed by electronic door locks, are the features most frequently used by hosts. The smart door lock from Nuki is also integrated into the software solutions of various providers. For example, access permissions can be easily sent to guests using the PMS. This means you can manage all processes though a central system without having to change app or platform.
Nuki – the smart integration partner for channel managers
Just like property management software, using an electronic door lock also saves you a lot of time and money. With a smart access system, you’ll never have to deal with time-consuming key handovers again. Do you rent out properties in different cities or countries, or can’t always be there to hand over keys? No problem – with an electronic door lock, you have an assistant at your side who is always there to help you if you don’t have time for key handovers. Thanks to the integration with the PMS, the digital access permissions are automatically generated and sent to your guests for the corresponding booking period.
Which PMS is right for me?
The right channel manager is the one that best meets your needs. The following questions will help you make the right choice:
- What functions does the channel manager offer?
- Which platforms can you offer the PMS to?
- Do you already work with software? Can you easily exchange the data between the two systems?
- Is all data transmitted quickly and reliably?
- What are the data protection regulations?
- What is your overall impression of the PMS? Is it easy to use?
- What additional services does the channel manager offer?
- What support is offered?
- What usage fees and prices do you have to pay?
Channel managers offer many benefits for hosts. Simply take a look at what the various providers have to offer and choose the PMS that makes work easiest for you.
You can use Nuki with the following management software solutions: