Why do you Need Airbnb Management Software?

Airbnb management software is a perfect solution for busy hosts looking to ease their workload. At the same time, it helps increase the efficiency of business operations.

When you manage one or multiple Airbnb rentals, you can quickly become overwhelmed with responsibility. From things like Airbnb key service and Airbnb concierge service to all the many other miscellaneous tasks, you need to handle. It is for this reason that many hosts and property managers are turning to Airbnb property management software, Airbnb host tools, etc.

In this blog, we will discuss what this is and then recommend the best Airbnb Property Management solution available in the market. At Hostaway, we specialize in helping property owners make the most out of their listings with precision.

What is Airbnb Property Management Software?

Airbnb property management software makes it easy to keep track of your bookings and Airbnb host checklists. Among other things, it can help you combine multiple Airbnb accounts, centralize your dashboard and automatically include various listings, automate communication, payment, record-keeping, and much more.

Airbnb Property Management Best Practices

In order to succeed on Airbnb, you need an effective Airbnb property management strategy. As a way to compete with the platform's Superhosts, all hosts should be aware of the basics of Airbnb management.

Following are the factors that make a good Airbnb Property Manager / Host:

• Maintaining a positive guest experience - communicate with all new guests within one hour, accommodate late check-ins and check-outs, monitor all guest reviews, etc.
• Developing a competitive price strategy and adjust prices according to seasonal demand and other factors
• Maintaining a coordinated cleaning and maintenance program
• Optimizing your Airbnb listing for high Airbnb ranking
• Keep up-to-date on local laws and regulations
• Managing cross channel marketing
• Advertising your property on Facebook, Instagram, Pinterest, LinkedIn, and your Direct Booking website.
• Reporting and Bookkeeping
• Payment Processing etc.

These are some of the essential tasks of a property manager/host. All of these responsibilities require you to work long hours every single day and can take a lot of your time.

Airbnb Property Management Software: How Does It Work?

An Airbnb property management system connects the listing of your properties and the software. This software allows you to organize your properties in a centralized dashboard, so you can manage them from one place when you have multiple listings and your rentals are on several vacation rental sites. Moreover, it can automate a variety of tasks associated with vacation rental management.

As a summary, they include:

• Guest messaging
• Real-time calendar synchronization
• Reviews creation and send-outs
• Cleaning management
• Team and task management
• Pricing management

Property Management Software for Airbnb provides the following benefits:

1. Improve communication by automating responses

Property management systems give hosts tools that let them communicate with their guests more efficiently and respond quickly to any messages or requests that may arise.

Communication is vital when it comes to hosting an Airbnb, and hosts can take advantage of these tools to better cater to the needs of their guests. Messages can be automated using these systems, so hosts can stay on top of communications at all times.

Automated messages save hosts time and hassle by sending check-in and check-out messages as well as sending house rules as soon as guests have confirmed their reservations.

2. Easy management of multiple vacation rental platforms and listings

Airbnb, VRBO, and Booking.com are all excellent platforms for listing vacation rentals for maximum bookings, but managing bookings across more than one platform can be tedious. Every property management system encompasses a multi-calendar, allowing hosts to see how many bookings they have received in their vacation home on multiple sites. Thus, hosts can avoid scheduling conflicts, prevent double bookings, and keep house prep on track in between bookings.

A multi-calendar feature is especially helpful for vacation rental hosts who manage multiple properties, as it allows them to view bookings from all platforms for all properties they manage.

Having a real-time view of each property and booking allows property managers to suggest alternative vacation rentals if the guest's preferred property is unavailable.

3. Enhanced pricing tools and features

Pricing plays a pivotal role in vacation rental management, as it can make the difference between profitability and non-profitability. As an advantage over those who use a fixed pricing structure, fluid pricing changes frequently based on historical data about popular seasons, local events near your listing, and hotel room availability and demand for vacation rentals within an area.

An effective property management system takes advantage of both historical and real-time data about the area around a listing to ensure it's always priced competitively.

4. Easily manage teams

A property management system can simplify team management for vacation rental hosts and property managers who have teams that assist with guest preparation. Every team member can see all listings and bookings on a central multi-calendar, so everyone is aware of which properties need to be cleaned or ready for guests.

By seeing who is assigned to which tasks, managers can quickly assign and schedule team members to do the next task.

5. Manage payments with Ease

When dealing with payments, a property management system takes care of the request and record of payments, accepts direct bookings, and sets up security deposits or taxes according to specific rules.

Property management systems simplify the process of distributing payments to owners for vacation rental hosts who manage properties for homeowners, removing the hassle of managing payment transfers.

6. Performance Reports and Analytics

An important component of property management is adjusting pricing or listings according to past performance to ensure a listing is always performing at its best. In the host dashboard, you can view occupancy rates for your properties, active and assigned leads, as well as the conversion rates of various members of your team.

The ability to access transaction histories for all vacation rental properties allows a property management system to create financial reports quickly, so owners and management companies do not have to maintain spreadsheets, and the property can focus on providing guests with the best possible experience.

7. Helps you to grow your number of reviews

The number of reviews you receive determines how trustworthy you appear to potential guests. Additionally, many positive reviews boost your listing's ranking in the search engine results. Most hosts, however, lack the time to review their listings. Many hosts and property managers also find it challenging to write reviews. Airbnb management software can automate your reviews making the review-creation process easier.

Pro tip: If you want to increase the number of reviews, you have to take the initiative. Airbnb will prompt the guests to review you after you leave a review for them.

8. Optimizes your Airbnb ranking

The algorithm that Airbnb uses to rank listings in its search results helps guests find the right listing for their needs. Search engine listings should appear on the first pages of search results to attract potential guests. There are multiple aspects of your listing that are taken into account by the algorithm, such as the number of reviews, the response rate, and so forth. Making sure your calendar is up-to-date regularly is also crucial for ranking high on Airbnb.

The ranking factors can be influenced by property management software, such as follows:

• Automating your replies will increase your response rate.
• Automating reviews can lead to more positive reviews. This will help your listing to rank higher in search engine results.
• Dynamic Airbnb pricing can help your listings rank better.

Pro Tip: A dynamic pricing strategy helps to keep your listings and rates competitive. If you change the price of your listing, Airbnb ranks it again and makes it appear higher in the search results.

9. Real-time Synchronization of your Calendar

When you list your property on alternative vacation rental platforms, it can be hard to keep the calendars synchronized. You can save a lot of time and energy by finding a way to organize your bookings. When you switch to automated channel management, you won't have to worry about receiving double bookings. Multi-channel listings can be managed from a single dashboard using channel manager software.

Whenever you receive a reservation on one platform, the same dates will be blocked out on all the others. Changes to the booking made by you or your guests will be reflected across all platforms.

10. Saves Time when Performing Routine Operations

Time is money, especially in the business world. Having more time on your hands allows you to allocate that time to more important matters. The automation of daily operations will enable you to allocate more time to activities that will help you scale your business. This will ultimately result in greater profitability.

While property management software helps make Airbnb business operations easier, this doesn't eliminate the hard work.

Automate Your Business with Hostaway

It can be a challenge for any vacation rental business to manage operating costs while increasing revenue and remaining profitable. As such, you should consider automating your business through a trusted partner company that can also help you along your journey while scaling your business at the same time.

Vacation rental businesses can benefit immensely from automation. This is the best way to improve the guest experience, secure more bookings, build an online reputation, and save time.

We recommend you simplify managing your property with Hostaway Property Management Systems and here’s why.

About the Hostaway Property Management System

The Hostaway Property Management System is a one-stop shop for all your property management needs. You can manage vacation rental properties across various channels without a hitch. Our PMS allows you to seamlessly manage all your reservations and listings on Airbnb, Vrbo, Booking.com, or any other OTA Platform by using the channel manager which is already built into our PMS software. Our powerful integrations enable you to experience automation and eliminate double bookings.

Key Features :

1. Property Management Software and Channel Manager All in One

This is the most comprehensive and easy-to-use property management system for vacation rentals. Manage inquiries, recurring guests, distribution channels, owners, and staff in one place.

Reservations Manager

Keep track of your bookings by managing your inquiries, reservations, and guests at the office or on the go. Our Reservations Manager ensures your cleanings, guest communication, payments, and owner reports stay up to date.

Performance Dashboard

Our performance dashboard lets you know if a guest needs assistance or if a staff member is unsure. It allows you to keep track of all your activities from one place.

CRM & Lead Management

Convert lookers into bookers. Ensure that previous guests never book elsewhere by re-engaging them with customized coupons.

2. Channel Manager

Hostaway's proprietary channel manager is the core of the platform, praised by channels and property managers alike.

Hostaway's channel manager provides a reliable and robust 2-way API connection to all major OTAs. Since we hold preferred/premier partner status with Airbnb, Vrbo, Booking.com, and Expedia, property managers can rest easy knowing that booking data is seamless across these channels.

Hostaway channel management extends beyond reservations, rates, and availability to include content, amenity, image, and review APIs. The Hostaway OTA integrations are among the deepest and most complete among vacation rental channel managers.

Expanded Distribution Channels

Hostaway's expanded distribution channels extend to major hotels, vacation rental, and niche OTAs. Vacation rental managers using the Hostaway channel manager benefit from an extended distribution platform that diversifies their reservations and improves occupancy.

Hostaway's channel distribution includes major OTAs such as Airbnb, VRBO, Booking, Expedia, and TripAdvisor. The channel management further extends to niche booking channels such as Find Rentals and House Stay and to rising stars Google and Marriott.

Multi Calendar

Featuring the fastest and most advanced multi-calendar on the market. The Hostaway multi-calendar provides a unified overview of all your properties, reservations, channels, and locations. The flexible Hostaway calendar allows users to adjust views between multi, monthly, and annual then further allows for tagging, filtering, searching, and user customization. The calendar UX is intuitive, powerful, fast, and easy to use.

Hostaway’s IOS and Android mobile apps retain this flexibility, power, and ease of use.

Multi-Unit Support

We can connect multiple room types to single properties and you can assign guests to units. In the event that property managers get the chance to run B&Bs, hostels, and hotels, we support their growth and our multi-unit support ensures maximum visibility on your website, Booking, Hotels.com, and many other hotel websites.

Cross Listing

Combine multiple listings into one with no chances of double-bookings, across all major channels. If you have multiple units next to each other or a house with multiple units, combine them as one unit to maximize revenues, and rent individual units when you are not fully booked.

3. Communication

All the communication tools a property manager needs are combined in this dynamic feature we offer at Hostaway.

Unified Inbox

The message API integrates with all major channels with support for email, text message, and WhatsApp.

Automated Messages

You can reliably automate all your daily guest communications based on smart triggers and events. If you've got available dates, a payment fails, or a guest wants to inquire about your homes, you can set your communication on autopilot.

Owner Portal

With carefully curated user management tools, your owners see exactly what you want them to see, but nothing more.

Guest Portal

Our safe and customizable guest portal gives you the chance to upsell, and the guest has access to all the important information they need to enjoy their stay.

SMS & WhatsApp

The unified inbox and automated messages can be sent using our 2-way text message (SMS) and WhatsApp support.

4. Automation Tools

Hostaway automates every single repetitive task in the world of vacation rentals. Here’s how,

Automated Messages

This feature combines triggers, automation, and workflows all in one place. Triggers can be used to turn lookers into bookers, guests into 5-star reviews, and past guests into repeat customers. Automated messages can be sent via email, text and WhatsApp.

Automated Reviews

Manage your reputation and automate both review gathering, answering and even reviewing your guests! Reviews are what make the guest experience successful. In order to get bookings, you need reviews - and you need to stay on top of them and respond to them.

Automated tasks

Manage cleaning and maintenance with ease. Automatically create tasks based on the reservations.

Automated Payments

You can automate the guest payments and charge the guests the right amount at the right time. Allow your guest to set up flexible payment schedules, or automate payments through Vrbo or your own website.

5. Services

Hostaway partners with companies that provide the most valuable, versatile, and reliable technology available.

Notifications

Get notified when you want to. Set up your notifications in detail, using our desktop app, mobile app notifications or email. These can be set up individually for each user, such as your cleaners or your property owners.

Mobile App

For those on-the-go tasks, Hostaway's mobile app is the industry's highest-rated, providing you with an easy-to-use, practical interface. Manage your multi-calendar, reservations, guest communication, tasks, guests and owners in one place.

In your pocket, on the go - anytime, anyplace.

Open API

Integrate any software or build your own with Hostaway. Our system supports growing property managers by offering them an open API upon which to build additional tools.

Revenue Management

Maximize your revenue during both high and low seasons. Setup your discounts, special offers, long-term discounts and check-in/check-out dates with fast and easy bulk edits.

6. Marketing

We provide all the tools you need to market your properties with the respect they deserve.

Booking Website

You can integrate your existing booking website or build a new one using our partners or our WordPress plugin.

WordPress Plugin

The Hostaway PMS and Channel Manager integrate with WordPress. You can create a website with our WordPress plugin that includes search, inquiries and secure payments.

Coupon Management

Send personalized special offers to those who want them. Create customized coupons for all your email, SMS, and social media marketing needs.

7. Analytics and Reporting

Hostaway's Analytics & Reporting feature offers hosts and property managers valuable insights into their business. It offers customizable reports for your KPIs. These include a suite of powerful analytics and reporting tools, built with years of experience and best practices from the hotel, vacation rental, and short-term rental industries.

Occupancy Reports

This feature gives you access to detailed occupancy reports for complete control.

Dynamic Pricing

Adapt your rates based on supply and demand. With four integrated dynamic pricing tools, you can use different dynamic pricing providers for different properties.

Owner Statements

Automate your owner statements and send them out automatically to owners - with the flexibility to adjust totals and account for owner stays.

Financial Reporting

Easily compute net margins, gross margins, and owner payouts for your properties with custom formulas. You can customize by sales channel, by the property, by the owner, or by location and create dynamic reports to determine where your profits are coming from.

Expense Tracking

Make sure you correctly allocate maintenance and cleaning expenses with our custom formulas and automation.

8. Operations

Manage your daily operations with detail and automation, and delegate tasks with ease.

Payment Processing

Our payment processing partners are PCI compliant and will ensure you get paid while keeping your guest data secure. We support Stripe, Braintree, and many other well-known payment processors.

Contract Signature

This feature allows you to automate your rental contracts. Our partner network offers e-signature solutions, so you can keep the one you're using today or help us recommend one. If you already use HelloSign, DocuSign, or any other major solution, you can just plug it in and automate those contracts.

Guest Invoicing

Our guest invoicing feature allows you to provide your guests with a detailed and professional invoice that adjusts based on additional services or adjusted length of stay. It also allows you to keep track of upselling activities, taxes, and fees.

Task Management

Automatically create tasks based on reservations to manage cleaning and maintenance.

Smart locks

Our PMS integrates with all major smart lock providers in the vacation rental industry. If you request a code from the smart lock provider, it will be inserted into your reservation on Hostaway, and it will only be sent automatically if you request it.

For a complete list of integrations, have a look at our marketplace!

Reach out to the Industry Experts!

To learn how Hostaway can fit your property management business and maximize your growth potential, schedule a demo call at your preferred time with one of our product experts.