Implementing a PMS at your property will allow you to automate the most important processes of your lodging and manage it more efficiently.
However, we know how difficult it is to choose the right system in a market saturated with companies offering such similar products.
What is a PMS?
It is a system that helps tourist accommodations, resorts and other similar properties with daily tasks and operations. A tool, also known as a Property Management System, that controls everything from reservations, communications, financial transactions, to task management.
Benefits of using PMS
– Improve productivity by automating management tasks and freeing staff from mechanical tasks, reducing human error in certain processes.
– Cost savings, as PMS are systems with costs associated with stable services, including maintenance and training. It also saves a lot of time and resources.
– Increased traveler satisfaction, since a PMS collects all the information about the user, which allows you to know visitors better, personalize the service more and be more competitive.
There are many factors to consider during the decision-making process, and while some carry more weight than others, it can be an overwhelming decision to make. The most important thing is to check that the PMS meets certain characteristics and that it fits the specific needs of your vacation rental.
Hostify has put together this article with a list of the essential services, as well as the features that might be most useful:
– Easy to use: the chosen PMS should be intuitive and easy to configure. Even for advanced users, it can take some time to get accustomed to new technologies. This will save you time learning or training in the use of the tool!
– Support: for most property managers, the main aspect that concerns them about a management system is the provision of uninterrupted technical support. It is imperative for any system to have 24/7 support and a fully reliable customer service.
– Flexibility and adaptability: it is important that the PMS offers flexibility to be able to adapt at all times to the needs of each business. The objective is to optimize your daily operations, while providing you with key information. If you choose a PMS adapted to your business model and flexible when it comes to subsequent modifications or integrations, you will have found a tool that will allow you to grow while investing less effort.
– Good price: cost will always be an important component in the decision-making process. Do your calculations and estimates, make sure you understand all the included and not included features of the PMS before signing the contract. Get a good and affordable price adjusted to your needs, but also to your budget.
– Reliability: this is a key element for the clients. A good property management system must be reliable and secure, to make them feel comfortable about the software at all times.
Of course these are not the only factors to take into account. There are many other elements that influence the decision to commit to a new property management system.
But we must also consider these equally important factors. Here are some of the main functionalities that a PMS must have:
– Channel manager: it is becoming more and more common to find property management systems that have Channel Manager functionality. A tool that allows you to centralize your entire tourism offer to handle all your listing. A direct real-time connection to all major channels. Skip the hassle of hopping from platform to platform and cut the risk of double-bookings.
– Rate and availability: no matter how many listings you have or channels you use. It ‘s important that all of your bookings appear in your Multi-Calendar. A a centralized place where you can check availability, rates, the channel where the bookings come from, and much more.
– Automated communications: creating and scheduling personal automatic messages for events like date confirmations, check-ins and check-outs will improve your communication flow.
– Direct booking engine: behind every great property manager is a great booking website. Many of the PMS ‘s in the market offer a free booking site. A direct line with your customers to start getting bookings without the commissioning of the channels.
– Payment and task automations: let a top-notch automation software take over your routine tasks so you can get back to growing your business. Process payments from every major channel, set automation rules and simply get notified when payments are successful or when deposits arrive.
– Dynamic pricing: this tool frequently recommends rates for rentals based on the market supply and demand, seasonality of the area, special events, and much more. You may find it essential to ensure that the right PMS either provides this themselves or integrates with third-party apps that offer dynamic pricing.
– Reporting: PMSs process large amounts of data, but you may need to extract just some information without getting lost in the background data noise. Take a look at the reports you can purchase, before choosing your next system.
– Integrations: this is a very important point. The ability of a property management system to connect and integrate with other platforms is one of the key points. Make a list of all the third-party programs you work with and check how many of them can integrate with your chosen system, or if they are open to new integrations. Having this information beforehand will save you a lot of headaches later on.
Maximize your business performance with Hostify
Making the right decision is never easy, with so many vendors to choose from you have to do your homework. Investing in a new PMS is time consuming, but implementing the right system for your vacation rental will allow you to take your operations, revenue and service to the next level. Take your time and compare all the features, so there are no surprises. Choosing a property management system (PMS) is a time-consuming task. Finding the right one for your rental business among the long list of providers is not an easy task, and it is common for many questions to arise around the process.
If you are looking for an experienced team of professionals to help you choose and implement the right PMS solution for your business, contact us! Hostify is the all-in-one solution! A PMS and Channel Manager that allows vacation rental owners and professionals to easily manage all aspects of their daily operations.
All you need to manage vacation rentals efficiently!