Perhaps you have heard the old saying that you can't have time and money. The theory behind that saying is that if you have money to spend, you likely do not have the time to spend it because you are working too much. Conversely, if you have time to spend, you likely have not acquired much money.
Is that premise true? In the case of managing vacation rental properties, the answer to that question is a definitive "no". Choosing the right vacation rental software will net you more money and more time.
Want time and money? Try the Kigo solution today!
Saving Time with Vacation Rental Software
With online booking via your vacation rental website, you can save considerable time. A properly designed vacation rental website answers common questions about your properties, provides important guest information, and allows guests to make a reservation online.
When you consider how much time each day you spend answering guest inquiries and making reservations over the phone, you can see how quickly the minutes add up. Imagine what can be accomplished with those extra minutes and hours.
As a vacation rental manager, you might spend countless hours updating and managing your property listings with multiple channel partners. Kigo's vacation rental software streamlines that process for you, by enabling you to publish updates to all your listings across sites like Booking.com and other portals with only a few clicks with channel management functionality.
Kigo's vacation rental software makes it easy to keep up with guest correspondence by providing email templates to help you automate the process. Kigo's "Vacation Rental Repeat Bookings Driven by Experience" highlights the link between improved communications, guest satisfaction, and repeat bookings.
Thinking of your typical cycle of guest communication, how much time does it take you to send out these common guest emails?
- reservation confirmations
- balance due reminders
- rental contract emails
- pre-arrival emails
- area attractions and things to do lists
- check-in emails
- check-out procedures emails
- post-stay feedback emails
- guest newsletters
If each e-mail takes 2 minutes and you have just 100 guests a year, that is 30 hours per year saved on just one activity.
Saving (and Making) Money with Vacation Rental Software
In addition to saving time, vacation rental software both saves and makes money for your vacation rental management company.
Taking online bookings through your booking software avoids the booking fee charged by vacation rental listing portals. Reducing operating costs also represents significant savings for many vacation rental property companies.
Kigo's revenue or yield management software enables you to optimize your rental rates at the snap of a finger with dynamic pricing.
Kigo's "Revenue Management for Rentals: What is Dynamic Pricing?" explains the process simply, stating: "How does the revenue management system work? First, you set pre-determined parameters based on things like break even points for your particular properties and market. Then, the system analyzes and adjusts your rates to correspond with supply and demand in real time.
This creates a significant advantage for your properties. By eliminating the hours of market research required to set prices correctly and the additional hours it takes to manually adjust your pricing across all channel markets, Kigo's revenue management software streamlines the process of pricing your properties for maximum impact."
If you are wondering if revenue management really makes a difference, consider this. As far back as the mid-1990's, Marriott's successful execution of Revenue Management (software) was adding between $150 million and $200 million in annual revenue (Marriott and Cross, 2000). Those stats are, indeed, significant.
Watch and Learn - Revenue Management Software Video
Time and Money-Realizing the Dream
Imagine vacation rental software that saves both time and money. Leveraging the power of such software, what would you do and where would you go with your extra time and money?
Schedule your demo today.