Wish you could buy more time? Well, you can.
A critical component of any vacation rental software is the amount of time that it saves you in attending to the basic tasks of running your business. Particularly in the busy season things like processing credit cards, following up on rental agreements, sending payment reminders, and adjusting your rates to capture more business take up substantial hours each month.
The good news is that many vacation rental software solutions now have features that will handle these things for you. Here are three features that you will want to consider as you look at your options.
This feature should reflect your Deposit Policy schedule and automatically contact the guest when a payment is due, is overdue, automatically charge their card or bank account, and send them a receipt when the payment is processed.
The credit card and account numbers are stored securely which also saves you the time of having to track down payment information. The guest can even update their payment info from a secure payment screen.
Instead of having to audit which guests have been sent agreements, which have been signed and sent back, and which guests need reminders, the software should do this for you. A good vacation rental software solution will allow you to set up triggers that send out the agreements and reminders on a set schedule.
And with e-signature technology the guest doesn’t have to print out the contract and scan, fax, or mail it back to you. They type their name in a field and the software takes care of the rest.
Most vacation rental companies will negotiate with a guest on price in order to get a reservation they might otherwise lose. But the back and forth with the guest can take quite a bit of time and it is always possible that you will lose them to a lower offer. With Dynamic Pricing capabilities you can set rate thresholds based on occupancy, time of year, day of the week, number of guests, etc. This helps you take advantage of supply and demand without having to send a custom quote to each guest.
Ex. If it’s the busy season and you are 80% booked, the Dynamic Pricing rules will automatically increase your rates 15% to take advantage of limited inventory. On the other hand if business is slow, the Dynamic Pricing rules can automatically lower the price 15% for a last minute mid-week stay.
While these are not the only features out there that will save you time, they are the three that I see vacation rental companies struggle with the most. Getting vacation rental software that can take these off your plate, without sacrificing the guest experience, can save you dozens of hours each month. Hours that you can spend helping your guests have the perfect vacation.
To get started you can compare vacation rental software at Software Advice.