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12 Things You Should Know about Smart Locks and Vacation Rentals

12 Things You Should Know about Smart Locks and Vacation Rentals

Everybody loves a listicle. Articles that tell you the “78 different ways you can improve your life”.

This particular listicle might not improve every facet of your life. But if you’re a short-term rental owner/manager, we’re here to improve at least one aspect of your business.

Smart locks are an important arrow in your quiver for automating operations and improving guest experience. Best of all, a recent study showed that 60% of guests would pay more for a vacation rental with a smart home feature.

A topic like smart locks, the ultimate smart home feature, demands the ultimate listicle treatment.

So, in today’s ultimate listicle, we’re going to show you:

  • Six ways smart locks boost reviews and rates; and
  • Six key considerations to make when choosing a smart locks provider.

Let’s get to it!

Six Ways Smart Locks Boost Reviews and Booking Rates

Elevating the guest experience

Smart locks revolutionize the guest check-in experience, waving bye-bye to traditional key exchanges. Skip the handoff and avoid sending guests on a wild goose-chase to their nearest 711 dropbox (something this author has experienced firsthand). Instead, go for a seamless process that significantly enhances guest satisfaction, often mirrored in glowing reviews.

Enhancing property value

Sixty-percent of guests surveyed said they’d pay extra for a rental with smart home features. In other words, there’s a perceived value to features like smart locks. In other words, smart locks not only boost guest satisfaction but also elevate a property's market standing. This can lead to an uptick in booking rates and, potentially, a substantial increase in rental yields.

Security meets convenience

Smart locks brings the best of security and convenience, providing features like unique access codes for each booking and remote management capabilities. This fosters a secure, hassle-free environment for guests, influencing their rental choices. Properties equipped with such modern conveniences often see higher booking rates, as guests increasingly prioritize safety and ease in their accommodation decisions.

Creating a cohesive living space

Smart locks act as a hub for a connected, smart home environment, enhancing the guest experience by integrating with devices like thermostats and security cameras. This interconnectivity allows guests to tailor their stay to their preferences, controlling everything from lighting to temperature with ease, often through a single application.

Streamlining property management

For property managers, smart locks facilitate more efficient operations, enabling remote management of the property's environment. This capability ensures that guests arrive to optimal comfort and helps conserve energy when the property is not in use.

Exploring future integrations

While current technology already offers significant advantages, the potential for future advancements is vast. Upcoming integrations may include voice commands, predictive adjustments based on guest preferences, and seamless connections with property management software, further simplifying tasks and enhancing the guest experience. And don’t sleep on the future potential of leveraging AI and Chatbots for vacation rentals.

👇 Check out this episode from the Hostaway Webinar Series to learn more about smart locks 👇

Six Key Considerations When Choosing a Smart Locks Provider

Now that you’ve caught a glimpse of the power of smart locks, it’s time to decide which provider to go with. There are a ton of options out there, so here are six key considerations to help narrow down your search.

Ensuring seamless integration

Select smart locks that integrate effortlessly with your property management system, like Hostaway, to manage access codes and guest interactions smoothly. This alignment is crucial for operational efficiency and security.

Assessing brand reliability

Opt for established brands with a track record of reliability, security, and strong customer support. Dependable brands minimize the risk of malfunctions, ensuring a positive guest experience.

Prioritizing user-friendly experience

The smart lock system should be intuitive for both guests, allowing easy access without complex setups, and managers, facilitating straightforward management and remote operations.

Comparing features and capabilities

Evaluate the features each smart lock brand offers, such as temporary access codes, integration with smart home devices, and real-time alerts, to match your specific needs.

Analyzing cost vs. return on investment

Balance the initial cost against the potential benefits, including increased bookings, higher rental prices, and operational savings, to gauge the long-term value of your listings and your return on investment.

Choosing Smart Locks is the Smart Choice

The future of the vacation rental experience is automated, seamless and frictionless. The more you can simplify the guest experience from booking to check-out, the better reviews you’ll get — and the bookings will follow.

Leveraging smart locks is just one example of automating the guest experience, but given how directly its impact is felt by the guest, it’s one of the most important ones.

So take your time, do your research and let us know how we can help.

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!