Managing Vacation Rentals

Whether you are new to the vacation rental industry or just want to check out alternatives to your current software solution, it’s important to make sure that the rental software you choose will meet your business’s needs. Here are five things to take into account when choosing a rental software platform.

Is the rental software cloud-based?

One of the major benefits for vacation rental managers who use cloud based rental software is ease of access. Cloud based rental software will give you and your team the ability to work remotely from anywhere you have internet access. Since cloud based software allows you to access your rental information 24/7 you can run your rental business anywhere at any time.

With a cloud based software there is no need to purchase or maintain servers to host data for your office. Rather than worrying about protecting data in the case of a natural disaster such as a flood or fire, you can feel confident that your information is safe in a secure stable environment at a maximum security data center. Leave the data hosting to the professionals so you have more time to do what you do best, book vacation rentals!

Does the rental software offer integrated partnerships?

Technology plays a large role in the current vacation rental industry. Does your software company offer integration options with other leading professionals in the industry? Integrated partnerships with companies who offer credit card/ E-check processing, electronic signature options, or travel insurance solutions can help provide a good experience for your rental guests.

Seamless connections with vacation rental distribution websites can help your rentals get more exposure online without you having to do extra work maintaining availability calendars. Integration with RentPrep helps you find the best renters for your rental properties using their suite of secure tenant screening services.

Does the rental software have a trust accounting package?

Vacation rental managers should look for rental software that features an integrated trust accounting package. Will your rental software leave you audit ready or require you do to your books manually or import data into other accounting systems?

Trust accounting creates a full audit trail from the moment the money is received through payout.  Vacation rental managers should feel confident that all rental finances are fully accounted for and easily tracked in their software.

Does the rental software offer portals for rental guests and owners?

Vacation rental managers should look for rental software that helps simplify communication with property owners and rental guests. Features such as portals for rental guests and property owners can help save your rental team time, by giving owners and guests access to their rental information online. Rental guests can view bookings, information about the rental property, and even make payments via the online portal.

Owner portals let property owners view bookings on their rentals, monthly statements, and reserve their own time in the rental home.  Giving rental guests and owners online access to their information saves time for your staff and leaves guests and owners with a positive impression of your rental company.

Does the rental software have proper security measures in place?

Vacation rental managers should be confident that their technology partners are keeping up with industry security standards to keep their data safe. Providing a safe environment to protect your data includes utilizing SSL encryption, maintaining a 24/7 firewall protection on the server environment, digital security backups, and advanced monitoring to protect against cyber attacks.

You should also make sure that the rental software is PCI Compliant. Choosing to work with rental software that has high-security standards in place to protect your data is important.

About RealTimeRental:

www.RealTimeRental.com is a fully integrated rental software solution for companies of any size. RealTimeRental has consistently provided a comprehensive reservation and trust accounting system for the past 18 years for over 200 + rental offices in the United States, Caribbean, Mexico, and Costa Rica.

About the author

I believe the biggest mistake you can make in life is not learning from them. I've been a landlord since 2009 and still learning all the time.