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Boost Your Short-Term Rental Business with 5 Essential Tech Tools

Garrett Brown by Garrett Brown
September 27, 2024
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Boost Your Short-Term Rental Business with 5 Essential Tech Tools
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As short-term rental hosts, we balance a million things at once—guest communications, bookings, cleanings, and, occasionally, reminding guests that “no, your pet llama can’t stay.”

Luckily, you don’t need to do it all manually anymore and can rely on the great inventions of modern times. No, I am not referring to DoorDash. I’m talking about the STR secret sauce.

From automating guest responses to keeping your property booked and clean beyond belief, these five tech tools will transform your rental game from “I’m ready to sell” to “I am an STR savant.”

1. Property Management Software (PMS)

Have you ever had nightmares of having your property double-booked and both guests showing up simultaneously? How about your cleaner never realizing they needed to clean your property, and the next guests arrived at a trash dump in house form? That is when property management software (PMS) like Hospitable comes in clutch. You might as well consider it the brains of your STR success.

Hospitable is like the concierge you never knew you needed. It automates your guest communication (yes, even those last-minute questions like, “Does the blender work?” at 3 a.m.). This beauty syncs with Airbnb, Vrbo, your direct booking site, Booking.com, and more, ensuring no message slips through the cracks. You can set up auto-replies, thank-you messages, and even prescheduled instructions so you look like the most organized host on the planet—even if you’re binge-watching Netflix.

Hospitable frees up your time, makes you look like a professional, and prevents you from needing to throw your phone across the room in frustration. It is perfect for hosts with less than 10 or so properties and should even be set up when you are just starting with one. Plus, no more 2 a.m. texts using their artificial intelligence (AI) power!

2. Dynamic Pricing Software

If you’re still setting prices manually, you’re living in the short-term rental dark ages. Dynamic pricing tools that help you set competitive rates based on real-time market demand will pay for themselves in the first month you use them. You wouldn’t charge peak prices on a random Tuesday, right? Dynamic pricing software ensures you’re always optimizing for those sweet, sweet profits. Some top companies include PriceLabs and Beyond Pricing, and even more are popping up every day.

It’s like having a Wall Street stockbroker, but for your rental pricing—minus the pinstripe suits and coffee-fueled 4 a.m. trading. This tool considers factors like local events, holidays, and market trends to keep your prices competitive without you lifting a finger.

Do you think Hilton or Marriott are setting their prices once a year and then just hoping they’re accurate? Dynamic pricing software ensures your property is always priced to book—and at the best rate.

3. STR Data Analytics Companies

Think of these STR data companies as your secret weapon for market research. Companies like AirDNA, Rabbu, Mashvisor, and more analyze millions of Airbnb and Vrbo listings to provide you with insights on pricing, occupancy rates, and market trends. Want to know how much that beach house three blocks away with a pool is making? They have you covered.

Use this tool to compare your property’s performance to others in the area, determine if you’re under or overpricing, and discover new opportunities. You might find out that adding a hot tub or pet-friendly amenities could increase your bookings by 30%.

You can’t improve what you don’t measure—you need actionable data so you can make decisions based on numbers, not gut feelings. (which, let’s be honest, may or may not always be reliable).

4. Smart Noise/Smoke Detectors

It’s 11 p.m., and your guests are “just having a small get-together,” but you start getting complaints from the neighbors about a full-on rager. This is when tools like NoiseAware, Minut, Wynd, and more could become your personal party bouncer.

These magical devices monitor noise levels without invading privacy (so you don’t have to be that host). If noise levels exceed a certain threshold, you get notified before things spiral out of control. They can also sense different types of smoking to notify you if your guest is fogging out the place or just “cooking” (burning to a crisp may be better). Plus, you can set it up to send polite but firm automated messages to your guests, reminding them that the whole neighborhood doesn’t want to hear their impromptu concert.

Noise complaints can lead to bad reviews and even fines in some cities. Smoking can lead to canceled incoming guests and heavy cleaning fees. These technologies help you prevent party disasters before they happen—and your neighbors will love you for it.

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5. Cleaning and Operations Management (COM) Programs

Once your guests leave (hopefully without burning the place down), it’s time to get your property back in tip-top shape. These cleaning and operation management (COM) programs can automate the scheduling and management of cleaning, inspections, and maintenance. Tidy, Breezeway, Turno, and others are some of my favorites with stellar reputations.

Using these means no more frantically texting your cleaner to ask, “Did you remember to replace the towels?” COM programs make sure your property stays pristine, so you don’t end up with any horror stories like finding a missing sock in the microwave (yes, it’s happened).

Guests expect perfection. Your cleaner wants to be updated regularly. You don’t want to be your cleaner’s personal scheduler. COM programs help you deliver by streamlining cleaning and maintenance tasks so every turnover is flawless.

Take Control of Your Business

Short-term rental success isn’t just about having a great property—it’s about making your life as a host easier. Your time is valuable, and STRs will never be entirely passive by nature (unless you have an unlimited budget, which I cannot relate to). Taking your systems and processes seriously will pay off in the long run.

These five tech tools will help you automate, optimize, and streamline your operations, allowing you more time to enjoy the good parts of hosting (like counting your 5-star reviews). And who knows? With all this extra time, you can start your TikTok series about the wildest guest stories.

I’d watch and love to chime in with the time I had a guest attempt to do a goat sacrifice. I’ll save that story for Halloween.

Find the Hottest Deals of 2024!

Uncover prime deals in today’s market with the brand new Deal Finder created just for investors like you! Snag great deals FAST with custom buy boxes, comprehensive property insights, and property projections.

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.

DeFi Daily News for more trending news articles like this

Conclusion:

Implementing modern technology tools in your short-term rental business can significantly streamline operations, enhance guest experiences, and increase profitability. From automated guest communication to dynamic pricing strategies and data analytics insights, these tools have the power to elevate your hosting game.

By utilizing property management software like Hospitable, you can automate guest interactions, avoid double-bookings, and maintain a professional image effortlessly. Dynamic pricing software ensures your rates are competitive and optimized for maximum profits, while STR data analytics companies provide valuable market research to make informed decisions.

Additionally, smart noise and smoke detectors help prevent party disasters and maintain a peaceful environment for guests and neighbors, while cleaning and operations management programs streamline property maintenance tasks for flawless turnovers.

Short-term rental success requires a balance of strategic planning and efficient operations. By embracing these tech tools, you can take control of your business and enjoy the rewards of being a successful host. So, gear up with these tools and watch your rental business soar to new heights!



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