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Best Vacation Rental Software 2023

Best Vacation Rental Software 2023

Whether you are a host looking to start with a single vacation rental or you are a property manager looking to manage 100+ listings across multiple OTAs, running a profitable, efficient vacation rental business requires vacation rental software.

According to Statista, based on the current boom in the vacation rental industry and the market's projected growth, it is predicted that Revenue in the Vacation Rentals segment is projected to reach US$96.85bn in 2023. The number of users is expected to amount to 899.0m users by 2027 with user penetration predicted to be 10.9% in 2023 and expected to hit 11.3% by 2027.

Also noteworthy in the news, PRNewswire reports that the global Vacation Rentals Market size was valued at $91.2 billion in 2021, and is projected to reach $315 billion by 2031, growing at a CAGR of 12.4% from 2022 to 2031.

Best Vacation Rental Software 2023

__Graph Source: Statista __

In light of the statistics, it is fast becoming a highly lucrative industry that is gaining steady momentum, and so to assist aspiring hosts entering this industry as well as seasoned property managers, we've compiled a list of the best vacation rental software on the market in order to provide easier access to these valuable insights.

Why do Property Managers need Vacation Rental Software?

Vacation rental refers to properties let out on rent to guests as an alternative to hotels which consist of short-term stays of less than 30 days. A short-term stay can be booked using an OTA such as Airbnb, VRBO, Booking.com, etc., through which you can offer an array of furnished accommodations, including serviced apartments, campsites, glamping, tent cabins, private rooms, and entire homes

Vacation rental properties are aimed at catering to short-term stay guests and in some cases hosting mid-term or long-term guests. Therefore, as a property manager, this entails hundreds of hours spent engaging with potential guests, corresponding, monitoring payments, invoicing, plus managing bookings. Adding to the list - ensuring rooms are clean and maintained to the highest standard, with all appliances functioning before the next guest arrives. Even the most experienced property managers can be burdened with managing rentals given that these are only top-of-funnel responsibilities.

The tedious and time-consuming grunt work can be reduced when you switch to using vacation rental software. With the added benefit of automation tools to help speed up some of your work, which is discussed below in length.

What is Vacation Rental Software?

Vacation rental software is designed to assist property managers and hosts in renting out their apartments, private rooms, hostels, or entire homes to vacationers. In addition to automating manual processes, the software helps short-term rental businesses scale and make healthy decisions.

Leading OTAs integrate with vacation rental software, including Airbnb, Vrbo, Expedia, Booking.com, Marriott, etc. In addition to providing high-performance property management features, vacation rental software solutions also integrate with property management service providers so that hosts and managers can automate, scale, and grow their businesses in the long run.

Identifying Essential Vacation Rental Software Features

Essential Vacation Rental Software Features

These are some of the key features to look out for when selecting vacation rental software to run your short-term rental business.

1. Channel management

Allows you to promote your property on multiple OTAs by connecting your rates, availability, and content in one place.

2. Multi-Calendar

All of your reservations are available in one place with options to organize them by date, unit, channel, payment status, etc.

__3. Manage Bookings __

You can set up, modify, or cancel reservations to make sure all guest information and availability are up-to-date.

4. Guest communication

Configure automated messages that include check-in / check-out instructions, answers to queries, send guests your welcome manuals and house rules or simply send special offers from one unified inbox.

5. Integrations

Make sure the vacation rental software can be integrated with third-party tools and software. This helps to maximize the functionality of your vacation rental software and is designed to help hosts to automate, scale, and grow their businesses.

6. Financial accounting tools

Accounting features that ensure accurate tax and commission remittances and collections from guests.

7. Payment processing

Integrate your payment processor to charge payments and deposits or even automate payments.

8. Reporting and Analytics

Track metrics such as occupancy, RevPAR, and guest reviews with customized reports and dashboards.

9. Direct website builder

Ability to publish a fully customizable, branded website that allows guests to learn about your property and book online.

10. Mobile Application

The capability to manage all key features and functionality on the go. This includes all the above-mentioned key features, all conveniently located in your pocket.

‍Benefits of Vacation Rental Software

  1. Massive Time Saver - Using vacation rental software you'll save time that would normally be spent on administrative duties
  2. Revenue Growth - The software allows you to grow your business by reducing costs, eliminating double bookings, setting better prices, analyzing data for improvement, and keeping your inventory updated across all listed channels.
  3. Multi-platform management - The channel manager, which is an important component of the software, synchronizes bookings across multiple OTAs
  4. One interface for all your needs - Access to all your booking channels, calendars, messages, payments, etc., from a single dashboard
  5. Integrate with service providers - Vacation rental software integrates with your many service applications and allows you to access data or services provided by the apps through their platform.
  6. Taking control of your business - By providing a central point of access for all your short-term rental data, messaging, and tasks, vacation rental software provides hosts with complete control over their businesses in terms of bookings, pricing, and inventory management.
  7. Scale Your Business - Set strategic goals for each member of your team based on key performance indicators. Using this method, businesses can create teams with reference goals to help them develop and achieve results.

The 5 Best Vacation Rental Software for 2023

Assessing your vacation rental needs is the first step in choosing the best vacation rental software. Determine whether you need a more advanced tool for managing bookings and analytics or one for just managing bookings. The choice is entirely up to you!

The following are the top 5 software providers ranking in the industry where you can identify features and functionality, pricing, and ratings.

1. Hostaway

Hostaway

The market leader, Hostaway is one of the most rapidly growing robust property management systems, providing an end-to-end platform to automate and simplify every part of the job of a short-term rental host or property manager. Hostaway is the highest-rated property management system for Airbnb hosts and vacation rental managers.

As a vacation rental software and channel management provider, Hostaway aims to deliver the best solutions to the vacation rental industry with unparalleled customer service and engagement. In addition to booking engines and WordPress websites, Hostaway also offers marketing and sales tools to help you manage your valuable direct bookings. Using this software, you can train employees while boosting business. You can also manage payments, owner statements, accounting, smart locks, and so much more.

In addition to configuring the platform according to your needs, the customer success team trains you and your staff on all the features.

Features

  • Channel Manager
  • Open API
  • CRM & Lead Management
  • Trust Accounting
  • Mobile App
  • Websites
  • Promotional & Negotiated Rates
  • Multi-Language
  • Responsive Design
  • Owner / Guest Portal
  • Owner Statements
  • Financial Reporting
  • Task Management
  • App Marketplace
  • Unified Inbox
  • User-friendly Interface

Integrations

Hostaway is a preferred and elite partner of Airbnb, Vrbo, and Booking.com and also has partnerships with Google Travel, Homes and Villas by Marriott, Hopper, and TripAdvisor just to name a few amongst many others. Hostaway has an open API which means that developers can build right to their product. Hostway’s marketplace boasts integrations ranging from key distribution channels to payment processors all the way to advanced pricing optimization software so you can run your vacation rental with the sophistication of a major hotel chain.

Customer Profile

Entrepreneurs, Large Enterprises, Mid-Size Businesses, Small Businesses

Language Support

English, Czech, Danish, Dutch, French, German, Greek, Portuguese, Spanish

Customer support options

Email/Help Desk, 24/7 (Live rep), Knowledge Base, Chat, FAQs/Forum, Phone Support

Deployments include

  • Web
  • Android
  • iPad
  • iPhone

Ratings

GetApp 4.7/5 (424) G2 4.8/5 (127) Software Advice 4.72/5 (424)

You can also read here, real Hostaway Case Studies from successful and growing Short-Term rental managers!

Pricing

With Hostaway, you can choose from different monthly subscription plans to meet your specific requirements.

Free Trial? No

2. Hosftully

Hosftully

Hostfully is a property management platform and direct booking website builder. With features designed to help manage and grow property management operations.

Business owners can manage marketing campaigns, collect security deposits from clients, and see how many bookings have been made on specific dates using the Hostfully Property Management Platform. Among the other features are a centralized calendar, a contact database, expense management, reporting, team collaboration, instant messaging, and more.

Key Features

  • Channel manager
  • Central calendar
  • Guest communication inbox
  • Automated messaging
  • Direct bookings
  • Upselling platform
  • Payment processing
  • Pricing tools
  • Direct booking website builder
  • Guidebook
  • Analytics and reporting tools
  • Messaging automation

Integrations

Hostfully connects with leading OTAs including Airbnb, Booking.com, TripAdvisor, Vrbo, Vacaymyway to name a few. They offer API integrations and channel management features via their marketplace, partnering with industry-leading software providers.

Customer Profile

Entrepreneurs, Large Enterprises, Mid-Size Businesses, Small Businesses

Language Support

English

Customer support options

Knowledge Base, FAQs/Forum, 24/7 (Live rep), Email/Help Desk, Chat

Deployments include

  • Web
  • Android
  • iPad
  • iPhone

Ratings

GetApp 4.3/5 (102) G2 3/5 (2) Software Advice 4.30/5 (102)

Pricing

Starting at $99 Request for quote for more detailed pricing details.

Free Trial? No

3. OwnerRez

OwnerRez

OwnerRez is a comprehensive booking management engine. OwnerRez is an established vacation rental management solution that's ideal for rental owners with up to 3 properties. With OwnerRez, you can manage bookings and maintenance, schedule payments, and access insightful reports.

Key Features

  • Channel Management
  • Messaging
  • Websites
  • Accounting
  • Payment Processing
  • Property Management
  • Integrations
  • CRM
  • Reporting
  • Renter Agreements

Integrations

OwnerRez can integrate with OTAs including Airbnb, Booking.com, TripAdvisor, and Vrbo. They offer a series of integrations via API and Channel Management features based on your user type. These third-party management tools are listed on their integration marketplace.

Customer Profile:

Entrepreneurs, Mid-Size Businesses, Non-Profits, Small Businesses Language Support: English

Customer support options:

FAQs/Forum, Knowledge Base, Email/Help Desk, Chat

Deployments include:

  • Cloud, SaaS, Web-Based
  • iPhone
  • Android
  • iPad

Ratings

GetApp 5/5 (143) G2 5/5 (23) Software Advice 4.96/5 (143)

Price

Starting at $35/mo for 2 properties

Everything but the Premium Features are included - even things like channel management, triggers, digital signatures, auto-responders, rich reporting, and many other powerful features.

Premium features include:

  • Property Management
  • Hosted Website
  • QuickBooks Integration
  • Damage Protection Insurance
  • Call center with VOIP calling, voicemail, and SMS integration

Free Trial? Yes

4. Lodgify

Lodgify

An innovative all-in-one vacation rental marketing solution, Lodgify is a cloud-based software system designed exclusively for vacation rental owners and property managers. In addition to building an optimized vacation rental website that accepts credit card payments, Lodgify's software also helps users manage all of their operations on a daily basis. With the channel manager, users can sync calendar availability, reservations, photos, and information with major booking channels. The Lodgify website builder is one of the best on the market. Its templates allow you to edit widgets and add your own custom text easily. You can even upload videos, maps, and custom code.

Key Features

  • Reservation Management
  • Scheduling
  • Activity Management
  • Customizable Templates / Email Templates
  • Design Management
  • Credit Card Payments / Electronic Payments
  • Application Integration
  • Channel Management
  • Multi-Property / Multi-lingual / Multi-currency
  • Online Bookings
  • Tracking management
  • Notifications in Real-Time
  • Web Analytics
  • Calendar management

Integrations

Lodgify integrates via API and real-time synchronization with vacation rental channels Airbnb, HomeAway/Vrbo, Booking.com, and Expedia as well as third-party management tools listed on their integration marketplace

Customer Profile

Entrepreneurs, Large Enterprises, Mid-Size Businesses, Small Businesses

Language Support

German, English, Italian, Spanish, French

Customer support options

24/7 (Live rep), FAQs/Forum, Email/Help Desk, Knowledge Base, Chat

Deployments include

  • Cloud, SaaS, Web-Based
  • Windows
  • iPhone
  • Mac
  • Linux
  • Android
  • iPad

Ratings

GetApp 4.5/5 (607) G2 3.4/5 (11) Software Advice 4.47/5 (610)

Pricing

Starting at $17 Per month

Lodgify offers scalable subscription plans based on a monthly fee, for both vacation rental owners and managers with 1 to 500+ properties. No set-up fees and no commissions

Free Trial? Yes

5. LiveRez

LiveRez

Developed to support entrepreneurs and property owners looking out to refine their businesses, Liverez is a cloud-based vacation rental management software. The software facilitates the management of reservations, connects to OTAs, automates accounting, and tracks the operations of listed properties. Features also include an intuitive booking grid, integrated websites, a booking engine, owner/guest portals, CRM, lead management, work order management, reporting, automated accounting and communication, and track operations.

Key Features

  • Channel Manager
  • CRM & Lead Management
  • Website Design
  • Trust Accounting Software
  • Reservations Management System
  • Implementation
  • Operations Management
  • iCal Integration
  • E-Signature
  • Reports
  • Owner Portal
  • Technical Support
  • API & Integrations

Integrations

LiveRez offers integrations with a number of credit card processing vendors, travel insurance providers, as well as providers of smart home automation. In addition, they provide direct connections to listing sites such as Airbnb, VRBO, Google Vacations, and HomeToGo.

Customer Profile

Entrepreneurs, Small Business

Language Support

English

Customer support options

FAQs/Forum, Email/Help Desk, Chat, Knowledge Base, online help and training resources such as videos and articles

Deployments include

  • Cloud, SaaS, Web-Based
  • Windows
  • Chromebook
  • iPhone
  • Mac
  • Linux
  • Android
  • iPad

Ratings

GetApp 4.6/5 (84) G2 /5 (3) Software Advice 4.63/5 (84)

Pricing

Starts from $550/per month Request for demo and individual price package Subscription model

Free Trial? No

Ready to find out how Hostaway can transform your business?

Hostaway is proud to support thousands of Property Managers and Airbnb Hosts Around the world. We take pride in being Top Ranked in Vacation Rental Software Review Sites: Capterra, G2, Software Advice, Trust Pilot, to name just a few! Check out our reviews and read the Hostaway Case Studies from real successful and growing Short-Term Rental Managers!