Holiday rental management: Tools to manage your property

September 2023

In property management, it is necessary to use tools to manage holiday rentals. To this end, we have compiled a series of keys, strategies and tools for successful reservations. It is necessary to know how to manage a holiday rental since the booking service with the client is not reduced to just establishing payments and rates. Do you want to know what management involves?

What is included in the management of a holiday rental?

The landlord is responsible for maintaining the rental in optimal conditions and must comply with the following requirements:

• Distribution channels: mostly management platforms such as Holidu, Airbnb or Expedia. 
• Marketing and advertising: driven by the payment of attractive ads in social networks and any other channel to promote the property.
• Photographic material: they must have a detailed description of the apartment, with real photographs.
• Maintenance: to have an excellent cleaning service before the client’s arrival. 
• Communication with customers: answer questions related to the rental before and during the stay.
• Automated check-in: updated reservation calendar to coordinate check-in and check-out.
• Incidents: it is necessary to maintain a policy before and during the client’s stay, in order to solve problems that may arise.
• Taxes: all legal requirements for holiday rentals must be met, according to the location of the property.

These are key aspects of rental management to maximize bookings with efficient administration.

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How to increase profitability by optimizing rental management?

Optimizing rental management implies an increase in revenue, but in order to achieve multiple bookings per year, the following strategies must be taken into account:

• Establish cancellation and deposit policies: define clear and fair policies that protect your interests and minimize loss of income in case of cancellations. You can do this by requesting a security deposit to cover possible damages or incidents during the stay.
• Competitive rates: do market research to determine the rate of your property based on its location, amenities and season. 
• Updating the property: a well-maintained and updated property will be more in demand and allow you to charge higher rates. Conduct inspections, perform maintenance and consider renovations.
• Search engines: improve your ad’s web positioning. Use SEO (search engine optimization) strategies to improve the visibility of your ad in the channels.
• Offer promotions: this is one of the advertising tools most sought after by customers.
• Positive reviews: ask your customers for reviews after their stay. This is a determining factor in the booking decision of other potential guests, and increases feedback to improve the service you offer.
• Optimize cost management: identify areas where you can reduce costs without compromising service quality.

Is it necessary to have a holiday rental manager?

The support of a manager is an advantage in the market, since at the beginning it is not easy. The manager will be in charge of promoting your apartment with the ability to perform various tasks, offering:

• Track record and expertise: their experience in the market will maximize your income, and help you manage the property efficiently. In addition, they offer advice on reservations, maintenance, service and marketing.
• Customer service: they will be able to respond to guests’ concerns in order to provide them with a pleasant experience by generating positive reviews.
• Time: saving time is an investment, and the property manager will take care of everything related to your property, from listing it on multiple platforms to check-in and check-out.
• Legal requirements: depending on the location, there may be regulations and legal requirements when renting a property. A property manager will make sure that your property complies with all regulations, avoiding legal problems.
• Resources: tools such as specialized rental promotion software such as Airbnb, Trivago, Expedia or Holidu.

You just have to evaluate your availability, additional costs and your property to decide if you need a professional manager. Also, not all property managers work in the same way, many of them offer a variety of plans:

• Express management: they are characterized by offering a rental price advisory service, maintaining fluid communication with clients, basing their work on the optimization of web ads and management on web platforms such as Booking and Airbnb. 
• Integral management: for those owners of one or more properties, this is the best option, since the company is in charge of the entire logistics and communication process with the client, in addition to offering cleaning and maintenance services, check-in and check-out.
• Digital management: the manager focuses on the sales area, positioning the apartment through advertisements and digital marketing techniques to promote the rental service.

Do you want to manage your holiday rental on your own? Learn more about the advantages!

Currently, some tools facilitate the management by the owner in a simple way, through software. First of all, you should think about OTAS or holiday rental platforms if you want to advertise the property. With the following platforms, you will find it much easier to manage.

AvaiBook.com

It saves time and effort by offering rental management software, which features tools and solutions for efficient property management.

Advantages

• Synchronization of availability calendar in different platforms such as Airbnb, Booking.com or HomeAway among others.
• Facilitates tracking and control of all reservations.
• Facilitates the configuration of personalized rates.
• It offers distribution channels, cleaning systems, payment gateways and automatic check-in.
• Provides detailed reports on bookings, occupancy and other relevant data.

Rock Rentals

It is an agency in charge of rental management for apartments, houses and villas, offering services of personal attention, reservations and local orientation. It has managers, offering security and comfort.

Advantages

• Promotion of properties on various platforms and booking channels.
• Coordination of check-in and check-out.
• They use effective marketing strategies.
• They are in charge of communication with guests.
• Solution to problems in the customer’s stay. 
• It allows you to earn income without having to worry about logistics or time.

Hosticasa

It is based in Las Palmas de Gran Canaria, and provides legal and tax advice prioritizing the terms of the property, as well as greater security. In addition, it manages long-term rental services, and offers clients customized packages tailored to their needs.

Advantages

• Increases visibility and reach of properties.
• Advanced tools for competitive pricing and revenue optimization.
• They offer advice with effective strategies to maximize results.
• They prepare market analyses.
• Coordination of reservations, check-in and check-out, cleaning and maintenance.

Minty Host

It offers a large group of agents that receive the users when the reservation is made. Among their services, they handle interior design, improving the appearance of the property to attract the client.

Advantages

• Team with strategies to maximize revenues.
• Optimizes the property reserve.
• It uses various distribution channels to increase the visibility of the properties.
• Establish competitive and profitable prices.
• Offers customer service.
• Management of check-in and check-out.

WeGuest

It is a rental management agency located in more than 200 locations in Spain, being a favorable option for owners. However, the company has a commission of 18%, offering a complete management service. Despite its price, it fits perfectly with those owners who wish to optimize their property, as the benefits will be rewarding.

Advantages

• WeGuest is responsible for promoting the property on rental platforms and on its own website.
• Coordinates the check-in and check-out process for guests, providing them with relevant information about the property and resolving any questions or problems.
• It handles everything from promotion and booking management to maintenance and customer service.
• Manages reservations and handles guest communications.
• Cleaning and maintenance services.
• Pricing and payment management, maximizing owner’s revenues.

The company hired for the management of the holiday rental requires a commission; usually 10 to 15% and others vary between 30 and 50%. The more tasks the company offers (advertising strategy, web positioning, communication with users, reservations and price management) the higher the commission will be.

Holiday rental management takes time, so finding the right agency according to the needs of the property is most important. You have to consider the services they offer and how they target potential clients. To ensure the success of your property, we recommend you analyse all the factors of time, budget and work.

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