Over the years, Airbnb has grown massively and become increasingly competitive where more and more property managers find it challenging to increase their return on investment without having to increase costs.
Moreover, as great as having an Airbnb business, managing more than one property can be overwhelming, especially with things like guest communication, managing bookings, etc. Today, hosts and property managers take the plunge into Airbnb management software which has proven to be a great tool that allows them to improve and increase the efficiency of their business operations.
That being said, let's dig deep and discover:
Airbnb property management is a unique tool designed for busy hosts and property managers who are looking to centralize their dashboards, automate daily repetitive tasks, streamline operations, avoid human error, save costs, and help Airbnb owners increase ROI.
The Airbnb property management system provides a link between the listing of your property and the software, beneficial for hosts who list their properties on multiple listing sites, organizing them within a centralized dashboard. This means that the software allows you to manage your properties from one place rather than managing each one and visiting all the different listing sites. This also helps you to avoid overbooking and eliminate human errors resulting in efficiency in productivity and possibly an increase in revenue.
Apart from that, the software provides different functions that also automate vacation rental management operations including
Time is Gold! Doing repetitive daily tasks over and over again would unlikely scale your business.
But with automation, it eliminates manual tasks and supervision of routine operations. Moreover, Airbnb hosts will have more devoted time on their hands allowing them to focus on growing the business and achieve better results that ultimately increase profitability.
Remember, that property management software doesn't eliminate all the work that needs to be put into running an Airbnb business but simply makes operations more straightforward.
If you own more than one property, managing and switching between accounts on Airbnb can be tedious. Moreover, it can result in conflicts or double bookings especially when listings are listed on multiple platforms like VRBO and Booking.com.
That said, Airbnb management software allows hosts to manage and organize listings via a single multi-calendar regardless of how many listings are owned. Apart from that, the host will be able to make adjustments, update, and track all bookings in one place. At the same time, this removes the round-the-clock log-in and log-out of your accounts eliminating human error.
However, automated channel management saves you time and energy as you will be able to manage all multi-channel listings from one dashboard and not have to be concerned about receiving double bookings.
That means, that when you receive a booking on one platform, the same dates will automatically be blocked on other platforms. Moreover, any adjustments or alterations made by you or the guest will apply across all your platforms.
Responding to guest messages at all hours of the day and keeping up with inquiries received from multiple accounts can be time-consuming especially when a guest expects a response immediately. But with Airbnb management tools, you can automate, set up, trigger and time automated messages to ensure flawless communication with your guests at all times even when you are physically unable to respond.
Moreover, a unified inbox allows the hosts to respond to guest messages or inquiries in one place, eliminating logging in from one Airbnb account to another.
With automation, the host can deliver better customer service that ultimately gets more bookings and focus more on business growth.
Did you know that only 20% of guests leave reviews, especially after a guest checks out? Ideally, the host and property managers should take the initiative, if they want to increase the number of guest reviews.
Potential guests look at the number of guest reviews which determines how trustworthy you appear online. That said, having more positive reviews will help boost your listing's rank in the search results, and ultimately gets more bookings.
Keep in mind, that most hosts or property managers find it challenging as well as not having the time to review their listings. But with the use of Airbnb management software, reviews can be automated making the review-creation process simpler.
With Airbnb being competitive, creating listings on the platform will not be enough to run a profitable business. Just like Google, Airbnb uses an algorithm to rank listings to ensure the right listings attract the right guests for their needs. That said, listings should appear on the first page of the search engine results to attract potential guests.
At the same time, Airbnb's algorithm weighs several aspects of your listing, including such factors as response rate, number of positive reviews, and more. Moreover, it is also crucial for your calendar to be regularly up-to-date in order to boost your ranking on Airbnb. By digesting what is mentioned, the right vacation rental software will help improve these factors which ultimately helps in potentially ranking your listing at the top and getting more bookings.
Tip: Implementing a dynamic pricing strategy helps to keep your rates competitive and listings to the point which helps boost your listings ranking to the top, especially if the rate of your listing changes, Airbnb ranks it again.
Keeping track of the vacation rental's financial and booking performance can be tedious especially when you manage more than one property. With Airbnb management software, hosts can easily adjust prices on listings based on previous performances and view occupancy rates to ensure a listing brings out at its best.
Moreover, you can monitor and create financial records quickly without using spreadsheets and spend time calculating making it easier for the host to focus on other things like providing guests with the best possible experience.
For property managers and hosts who coordinate with teams or outsource subcontractors, Airbnb management software like Hostaway is a lifesaver.
Utilizing the software simplifies team management by inviting team members to join the system where you can share schedules, tasks, and more for them to access. Moreover, on each scheduled task, team members are automatically notified.
That way, you do not have to deal with any missed cleanings and maintenance, especially after each guest checkout.
It is undeniable that Airbnb management software is a great tool for busy hosts and property managers looking to increase and maximize the efficiency of their business without having to increase costs. Remember, it just takes only one negative guest review to bring down your Airbnb business. Therefore, think about what to look for in an Airbnb management software that fits your requirements.
That said, it is important to understand your business goals and requirements before investing in Airbnb management software to reap the rewards of automation. How does Hostaway fit your vacation rental business? Schedule a demo, today!