These days, there’s a seemingly infinite amount of resources for rental owners. With so many to choose from, it’s hard to narrow down the essential, must-use tools that will help you attract renters, protect your investment, maintain your property and manage your finances.
While your rental business may be a side gig, it’s still a business and you should run it professionally. From finance trackers to security systems, add these six resources to your toolbox to successfully manage your business and maintain your rental property.
Being aware of rental prices in your area allows you to offer reasonable, competitive prices. Seamlessly integrate Outswitch with your vacation rental website and get hold of this data-driven price information, which will help you book more nights and drive more revenue.
With this tailored yield management tool, you can optimize your prices to automatically match the demand of your market on a nightly basis. You can also reach more potential guests to keep calendar gaps to a minimum, as well as target guests who’ll stay longer to help cut costs and plan more efficiently.
2. Entrepreneur’s Business Calculators
“You must know your numbers inside and out,” says real estate entrepreneur Ted Rollins. “Integrating the financial performance and metrics of your business into everything you do is a must.” However, if you’re not a financially savvy person, managing income intelligently can be a challenge.
Entrepreneur, the online business publication, offers a whole page of calculators you can use for your business. You may find the cash flow, starting costs and ROI calculators to be most valuable. Pair these with other resources, like this tax calendar to stay on top of financial deadlines and tax dates.
Keeping your property in excellent condition keeps your guest experience on top. But that doesn’t just mean keeping the place clean. You also need to make sure your rental is equipped with everything visitors need for a comfortable stay.
To make sure every guest experience is as good as the last, use a tool like Properly to organise tasks, schedule cleaners and oversee your property management from anywhere. You can easily communicate with staff and use the interactive checklist to make sure all tasks are complete.
For any task you set service providers, you can opt to require a photo receipt. You’re also able to receive notifications when your cleaner starts or finishes the job. What’s more, Properly is free to use for customers with less than three listings.
4. Party Squasher
Party Squasher is an innovative solution which help owners stop worrying about one of their biggest fears when it comes to renting out their vacation home – guests trashing their house during a party.
So how does it work? Party Squasher totals up the number of mobile devices in your vacation rental, and lets you know if it surpasses your limit. Devices aren’t required to be connected to your Wi-Fi network for the tool to accurately count, either.
5. Rently Keyless
There will be no time wasted in coordinating key drop-off times with Rently Keyless, which gives you remote access to lock or unlock your rental from your smartphone. To keep safety first, you receive real-time alerts so you know when someone has accessed your property.
And that’s not all Rently Keyless offers. It’s entire smart home system includes lighting, door and window sensors, motion sensors and smart thermostats for owners who are looking for complete solutions for their vacation rental properties.
Living far away from your rental means you can’t always ensure your guests are on their best behavior. A tool like NoiseAware helps you keep an eye (or an ear) on your rental at a distance, and helps you keep the peace with your neighbors – even when you aren’t around.
Set your quiet hours and sensitivity threshold and let NoiseAware do the rest. The automated system will send you an alert if the noise levels exceed your custom settings, then you can contact tenants or visitors immediately to avoid noise complaints or expensive fines.
These resources will help you manage your finances, improve your pricing, and have peace of mind when visitors are there. Start using these tools today for a smarter rental business.
About the Author
Maile Proctor is a professional blogger and content editor. She writes articles on business advice, lifestyle, family and how-tos. When she’s not writing, she enjoys hiking in San Diego, California. Follow her on Twitter @Maile_Proctor.