Short-term rentals as an investment strategy can be lucrative, but managed inefficiently, the cost-benefit analysis may not be attractive to some. Utilizing technology to streamline every part of the property management process can save you time, headaches, and money, ensuring your passive income stays truly passive.
With tools like our Insights tool, transparent data is truly in the hands of buyers or current owners. Technology like this can be used to analyze investments and project estimated returns using real-time data to help you plan your next acquisition or investment strategy.
Without a streamlined process and automations, finding guests can easily become a full-time job. The key to maximizing revenue and getting the most eyes on your property is to lean on integrated portal services that list and manage your property across all listing agents that guests are booking on.
Investors who fail to dynamically optimize their listings for varied nightly prices or lengths-of-stays miss out on a world of profits. Channel managers with deep learning technologies can study market activity and dynamically optimize listings across booking platforms to ensure your pricing and nightly stay policies are making you the most.
Automated messages and processes can enhance the guest experience, with minimal work from you, the host. Setting up automated, personable messages for each part of the guest experience can ensure questions are answered and the stay is superb.
With the plethora of smart home technology out there these days, various checks and controls can be put in place to ensure your guests are who they say they are, and are acting as they say they will. Between virtual check-ins that require facial recognition, to granting and revoking access through door codes, to even monitoring home security and temperature — smart home tech makes it easy to have peace of mind with your short-term rental.
Gone are the days of running around, passing off keys to different property management vendors. Using the same smart home tech that aids and automates the guest experience, hosts can enjoy streamlined property maintenance coordination by providing different codes for managers, cleaners, and maintenance teams, all through technology.
Owners portals and integrated portfolios lend the benefit to owners of automatically compiling financial statements and key performance metrics of properties across all investments, making it easy to analyze performance and shift strategy in real-time.
A good property manager will offer all of the above technology, and more. We do. Want to talk to us about this and more? Let us know below.
If you’re interested in reading more about this topic, we talk about it in-depth here with our friends at Tech Bullion. Happy reading.
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