There are many vacation rental technology solutions available to help you improve virtually every aspect of your business. From bookings and guest communication to accounting and pricing, the technology you use for your business should help things run smoothly and efficiently. Here are some great solutions to help you tackle problems with ease across key pain points for many vacation property managers.
Vacation Rental Pricing Software
For many travelers, cost plays a huge part in the vacation rental they choose. As an owner, finding the sweet spot that will attract the right guests while also making you as much money as possible can be complicated. There are many variables to consider—like seasonal tourism, your property upkeep costs, competitor pricing, etc.—and it may seem like you need a crystal ball or an advanced math degree to nail down the ideal rates. But you don’t have to be clairvoyant, and you don’t have to be a calculus wiz. With vacation rental pricing technology like PriceLabs, you can easily analyze the market and ensure you are offering competitive rates based on your area. PriceLabs allows you to quickly access and leverage live data to make informed, intelligent pricing decisions on the fly—and you can even pull projections for future dates and seasonal periods.
An Integrated, Robust Accounting Platform
Although managing a vacation rental is certainly a people-focused business, it’s still a business and should be run like one. Successfully operating any business often boils down to intelligently managing your money. That’s why having a reliable accounting system is vital. A popular vacation rental technology solution for accounting is QuickBooks. Why? Because they’re the industry standard in accounting software and offer many great features for property managers.
QuickBooks provides an intuitive interface that makes it easy for even the least accounting-savvy property manager to keep track of revenue and expenses. The software is customizable and offers many useful features like detailed one-click reporting, property taxes, rental tracking and more. Easily keep track of daily, monthly and annual spending and revenue across the board. Plus, because it’s such a popular platform, QuickBooks integrates seamlessly with many other solutions as well. That means if you’re using a leading vacation property management platform like Bookfull, you can quickly access your accounting data from the same place you manage all of your other business operations.
Sales Tax Software
Understanding and paying the taxes you owe is a vital part of running your business. Just ask Uncle Sam. If your current software isn’t automatically collecting sales tax with each booking or isn’t using up-to-date tax rates, you could be heading toward costly mistakes.
There’s no need to stay awake at night wondering what you’ll do when the auditor shows up. Instead, implement the right vacation rental technology that can take care of your taxes for you. At Bookfull, we recommend Avalara sales tax software. Avalara makes collecting and paying rental property sales tax a breeze. It even allows you to collect and verify exemption certificates! Plus, rates are updated in real time—and because all of your sales data is stored in its system, filing and reporting is easier than ever. The best part? Avalara integrates with Bookfull so that you can automatically process tax payments at the time of booking!
Direct Booking Tool
Without bookings, your vacation rental is just a second home that’s draining money. But that doesn’t mean you have to always rely on established reservation channels like Airbnb or Expedia. Bookfull offers a reservations tool that allows you to take bookings directly through your website. This allows you to bypass commissions and fees often associated with the major reservation channels. Plus, when a booking is made, your calendars and other business tools automatically sync with the information to keep everything organized.
Client Relationship Management (CRM) System
Managing a vacation rental is about connecting with people. Effective communication with guests before, during and after their stay is crucial to ensure their satisfaction. Even when you’re busy, your guests should feel connected, relevant and engaged. When you do it right, you can earn a return guest, a great review, or new leads through a positive recommendation. Implementing a powerful CRM system can allow you to stay in constant communication with your guests while freeing up your valuable time to take care of other business or personal matters.
Smart Home Technology
Wouldn’t it be nice to receive a notification when a guest cranks the AC down to 50 degrees before they freeze the pipes? Today, you can. There are many smart home technology solutions available to help you keep tabs on your properties and manage property operations remotely. From noise alerts that can help you avoid citations to smart thermostats that can help you better balance guest comfort with utility costs, there is much to be excited about. Keyless entry is another great vacation rental technology that allows you to keep track of who comes and goes—and to even lock or unlock the door remotely.
All Of Your Vacation Rental Technology In One Place
With countless features that make reservations, accounting, and guest communication a cinch, Bookfull puts everything you need to manage your vacation rentals in one place. If you’re ready to take your business to the next level, Bookfull has the features and high-tech options to get you there. And guess what? It’s FREE!