The market for vacation rentals is projected to be valued at more than $100 billion in 2024. That number will reach $107 billion in 2027 — a new peak after seven consecutive years of growth.
Where there is massive growth, there is technology to help savvy entrepreneurs participate in that growth. Chief among those is vacation rental software.
Which vacation rental software is the best and what are my options?
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 rental segment will reach US$100.08 billion in 2024.
(image credits - Statista)
Vacation rentals are properties rented out to guests for short-term stays, generally than 30 days, as an alternative to hotels.
Thanks to OTAs such as Airbnb, VRBO, Booking.com, etc., you can list a variety of furnished accommodations, including serviced apartments, campgrounds, glamping, tent cabins, private rooms, or entire homes, for short-term stays.
But managing multiple listings via multiple channels and OTAs can be a headache. By switching to vacation rental software, you can reduce time-consuming and labor-intensive grunt work, with the added benefit of automation tools that can speed up some of your work.
Vacation rental software streamlines all aspects of your operations for short-term rentals.
And best of all, OTAs) integrate with vacation rental software, providing high-performance property management features and with property management service providers to automate, scale, and grow your business.
These are key features to look out for, when selecting vacation rental software to run your short-term rental business.
Allows you to promote your property on multiple OTAs by connecting your rates, availability, and content in one place.
All of your reservations are available in one place with options to organize them by date, unit, channel, payment status, etc.
You can set up, modify, or cancel reservations to ensure up-to-date guest information and availability.
Configure automated messages that include check-in / check-out instructions, answers to queries, send guests your welcome manuals and house rules, or send special offers from one unified inbox.
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.
Accounting features that ensure accurate tax and commission remittances and collections from guests.
Integrate your payment processor to charge payments and deposits or even automate payments.
Track metrics such as occupancy, RevPAR, and guest reviews with customized reports and dashboards.
Ability to publish a fully customizable, branded website that allows guests to learn about your property and book online.
The capability to manage all key features and functionality on the go. This includes all the key features mentioned above, all conveniently located in your pocket!
Using vacation rental software saves time that would usually be spent on administrative tasks.
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.
The channel manager, which is an important component of the software, synchronizes bookings across multiple OTAs
Access to all your booking channels, calendars, messages, payments, etc., from a single dashboard
Vacation rental software integrates with your many service applications and allows you to access data or services provided by the apps through their platform.
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 regarding bookings, pricing, and inventory management.
Set strategic goals for each team member based on key performance indicators. Businesses can use this method to create teams with reference goals to help them develop and achieve results.
Assessing your vacation rental needs is the first step in choosing the best software. Some tools might be overkill if you only manage a few properties. Whereas some tools are better suited to scale with your needs as you grow your business.
Here are the top 5 Vacation Rental Software.
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.
To help you manage your direct bookings, Hostaway offers marketing and sales tools, booking engines, and WordPress plugin websites. By using this software, you can train employees and boost your business at the same time. Additionally, you can manage payments, owner statements, accounting, and smart locks.
Furthermore, the customer success team trains you and your staff on all the features to configure the platform according to your needs.
Hostaway has an open API, meaning developers can build according to their product.
Hostway’s marketplace boasts integrations ranging from key distribution channels to payment processors to advanced pricing optimization software so you can run your vacation rental with the sophistication of a major hotel chain.
English, Czech, and a few others
Email/Help Desk, 24/7 (Live rep), Knowledge Base, Chat, FAQs/Forum, Phone Support
Cloud, SaaS, Web-based, Android, iPad, iPhone
GetApp 4.6/5 (743) G2 4.7/5 (140) Software Advice 4.7/5 (743)
You can also read real Hostaway Case Studies here from thriving and growing short-term rental managers!
With Hostaway, you can choose from different monthly subscription plans to meet your specific requirements.
Free Trial? No Demo ? Yes
Offering a property management solution, RMS Campground is a cloud-based software system created for the campground and RV resort industry. Bookings, tracking availability, price, correspondence, and billing are all functionalites.
Since RMS is flexible enough to accommodate companies of various sizes, implementation across multi-property environments may be done smoothly.
MYOB Business, Criton, Stripe, Quickbooks Online, Braintree, Xero
Freelancers, Large Enterprises
Arabic, Chinese (Simplified), English, French, German, Japanese, Spanish, Thai
24/7 (Live rep), Knowledge Base, Chat, Email/Help Desk, FAQs/Forum, Phone Support
Cloud, SaaS, Web-based
GetApp 4.4/5 (414) G2 4.5/5 (16) Software Advice 4.4/5 (414)
Your property determines the price. It considers the number of sites or slips as well as the number of properties. Additionally, setup, migration, and training are included in the fee.
Streamline provides property management software for holiday rentals. It is a cloud-based solution that offers capabilities for online booking, lead management, trust accounting, and CRM software to meet the specific demands of property managers.
Streamline is a smart, innovative, strong, and distinctive product that meets the market's ever-changing needs.
authorize.net, Properly, Rentals United, QuickBooks Online Advanced, Stripe, PriceLabs, Beyond, SiteMinder, BookingPal
Freelancers, Large Enterprises
Email/Help Desk, Phone Support, FAQs/Forum, 24/7 (Live rep)
Cloud, SaaS, Web-based
GetApp 4.5/5 (76) G2 3.9/5 (8) Software Advice 4.5/5 (76)
Pricing model: Subscription-based
Free Trial? No
SuperControl is a system that makes vacation rental bookings for agencies and property owners. It works as a business solution for online booking management and integrates seamlessly into websites. The program has a built-in channel manager and a secure, integrated system.
Beyond, Breezeway, and Duve
Mid-size business, small business, enterprise, freelance, and startup.
SuperControl offers online live chat, email, and phone support during business hours.
Cloud, SaaS, Web-based
G2 4/5 (1)
£440.00 annual license fee (per property/unit)
Free Trial? Yes Free 7-day trial Free Version? No
PropertyMe is a cloud-based property management software that streamlines operations for property managers.
PropertyMe is a robust platform that meets the dynamic needs of property managers and landlords in the property management industry, making it a choice for modern property management solutions.
Freelancers, Large Enterprises, Mid Size Business, Non-Profit, small Business
Email/Help Desk, Chat, Phone Support, FAQs/Forum
Cloud, SaaS, Web-based
GetApp 4.6/5 (45) G2 4.5/5 (1) Software Advice 4.6/5 (45)
Starting from: $605.00/month Pricing model: Subscription
Free Trial? Yes
Exciting times in the world of vacation rental software! Advanced technologies and innovative solutions are giving the whole game a significant upgrade. Picture this: the finest software combines slick user interfaces, robust booking systems, and cutting-edge automation. It's like a super boost for property owners and managers, making everything smoother and more convenient.
These solutions don't just stop there – they go beyond that. They amp up the guest experience, streamline operations, and crank up the revenue dial. Opting for top-notch software isn't just a casual decision; it's a smart move in the competitive vacation rental market. It's not just about keeping up; it's about thriving. So, if you're in the vacation rental world, diving into this software revolution is like having your secret weapon.