Find out which vacation rental software is best for you and your business. Here is my honest Vacation Rental Software Pricing review that will also show you how to start with free version of said software. Would you like to know the best ways to save money on your next vacation rental software purchase? Vacation Rental Software Pricing Made Easy! I’ve got some great tips to save you lots of cash.
If you’re looking to find vacation rental software it can be very tricky. There are tons of different packages and pricing options but which one is the right one for your business? I’ve decided to make this guide to help make your decision easier. Below we’ll discuss a few things to think about before making that purchase. You’ll also see some recommendations for pricing software. If you’re looking for a complete home rental management system, that has a suite of tools and functionalities designed specifically for vacation rental agencies, you’ve struck gold. Real Property Management Software is the only solution for vacation rental software that’s affordable & sustainable. Sure, there are many different websites providing different prices, but with so many options to choose from is it even possible to get a reasonable price?
Not only is it possible, but there are some pretty great vacation rental software pricing options. Find out what you need, and how much you’ll pay for it with this post. Maybe you haven’t been to your online vacation rental management platform in a while, or usually use it to make reservations. You plug in your info, and hit the button to book; only this time, you get a message that says your booking is $50 higher than usual. What’s up with that? I can tell you what’s up: your pricing software has released a new update…again.
Vacation rental management software helps you manage your business more efficiently so that you can save money and focus on taking care of your guests. It’s important to understand the cost of vacation rental software before making a decision about which program is best for your needs.
Vacation Rental Software Basics: Property Management Systems
Let’s dive right into some vacation rental property management systems. Note that these are just a few of the many systems available, but they all offer a good combination of features and value. Each system has its own unique user experience and design to facilitate vacation rental owners in customer acquisition, guest management and general business operations. Many of these software solutions are also used by small b&bs who need real-time business management capabilities. These smaller properties are often staffed and run similar to vacation properties of a similar size.
Pricing varies widely based on the company offering it, and includes factors such as number of units, number of users and add-on features.
Some companies offer a basic package for $10 per month per unit. Other companies charge as much as $2,000 per month for a single property. The average cost is between $300-$600 per month with an annual contract being typical.
If you’re considering vacation rental management software, it’s important to understand that the pricing varies widely based on the company offering it and includes factors such as number of units, number of users, and add-on features.
We researched numerous software companies to find out more about their pricing:
For this article, we also surveyed vacation rental managers to find out how much they spend on vacation rental software.
- The average monthly cost of virtual assistant services is $10 per month for vacation rental managers.
- 15% of vacation rental managers spend between $20 and $30 per month on virtual assistant services.
- 8% of vacation rental managers spend between $30 and $50 per month on virtual assistant services.
How much does vacation rental software cost?
There are a number of factors that will determine how much vacation rental management software costs, such as:
- The number of units you want to manage. If you only have one property, then the cost will be less than if you had many properties.
- The number of users who need access to the software. If there are many people working in your business (especially if it’s a large chain), then this will add up quickly.
- Add-on features like accounting or CRM integration can add onto the price tag as well.
The average monthly cost for a single unit is $10 in our survey, but many prices start at $30 or higher. While some of the more expensive options out there are worth paying more for, you can also find affordable vacation rental software that still offers great functionality and support.
Other respondents spent between $20 and $30 per month on vacation rental management software.
We then asked respondents how much they were spending on vacation rental management software per month, and the average was a little over $2,000. The range was broad: some people spent less than $1,000 per month while others paid more than $5,000.
Of course, these prices are for the whole inventory of 400 to 500 properties that respondents manage—not just one or two listings. So let’s take a look at what it would cost for you to use HomeAway’s Booking Manager tool if you have 50 properties listed with them:
- If you have Booking Manager as part of your Host Plan (i.e., all revenue goes through HomeAway), it costs around $30 per month for each property—$150 total.* If however you’re currently using another third-party reservation system such as VRBO or Airbnb reservations tool and want to switch over to use Booking Manager instead (where all revenue goes through HomeAway), doing so would require an additional monthly fee of around $200-$300 extra dollars depending on how many booking channels there currently exist within your current platform contract agreement.* In short: if managing 50 properties is your full-time job (and let’s face it…it probably is!), then transitioning over from whatever else you might be using right now into Booking Manager will likely end up costing somewhere between 200-250% more money than before!
Based on the data from our survey, we estimate that the average cost of vacation rental software for a property manager with 50 properties is around $2,000 per month.
The good news is that vacation rental software pricing varies widely. In our survey, we found that the average cost of vacation rental software for a property manager with 50 properties was around $2,000 per month. But this figure is an average, and it can vary based on factors such as the number and size of your properties. For example:
- If you have only one property to manage, you might pay as little as $5 per month (or even less).
- If you have 10 properties to manage, then your monthly subscription costs could range anywhere from $5-$100 depending on which provider and features are right for you.
- If you have 100+ properties to manage—and especially if these are professionally managed by a third party—then expect to pay at least $10-$20 per month for their services (and potentially much more).
Some respondents in our survey were paying under $1,000 per month for their entire inventory of 400 to 500 properties. We did the math and figured out that’s only $2.50 a day! If you have 10 properties, you’re spending less than 30 cents per day on each one!
That’s incredible! But how?
Vacation rental management software is a fantastic tool for managing all aspects of your business. It can help you save money, maximize revenue and take care of your guests by helping manage:
- Inventory: With inventory management in place, you’ll be able to view real-time information about the availability of properties and rooms at any given time.
- Guest communications: You’ll have better control over how guests receive information from you (by email or text message), when they receive it (during their stay or before), what kind of information they receive (price changes, special offers) and how often they do so (daily updates or just once).
- Calendar/reservations: With vacation rental management software installed on your computer or smartphone device, you can easily keep track of upcoming reservations—and even block times out ahead if necessary.
Hostfully
Hostfully’s property management platform won “Best All-Around Vacation Rental Software” at the VRMB awards in 2019, and is one of the most popular property management systems available today.
Aside from letting you manage all of your bookings from one platform, Hostfully places a big emphasis on the automation of time-consuming tasks. The platform itself has some unique features which can really come in handy when managing multiple properties, including automated messaging, upsell services, a pipeline and booking dashboard, and vendor management features.
Prices start at $79/month for 1-4 properties, with a one-time $400 implementation fee.
Hostaway
Hostaway is one of the fastest growing property management systems, providing an end-to-end platform to automate and simplify every part of the job of a short-term rental host or property manager. Hostaway includes a channel manager, a unified host inbox and dashboard, functionality to handle multiple calendars, an auto-task manager, revenue optimization tools, a direct booking website builder, and a variety of other tools.
Request a quote for custom pricing.
Rentals United
Rentals United is a cloud-based app that specializes in management and online booking. With this app, vacation rental owners can sync all of their existing listings in one place from sites like Airbnb, VRBO, HomeAway, Booking.com, and more vacation rental sites. Users get access to a booking calendar and receive real-time notifications on bookings, cancellations, and guest comments. Rentals United also allows you to advertise short-term rentals across a wide variety of both global and local booking sites. Users enjoy an impressive 25% average booking increase.
The cheapest plan starts from €107/month with yearly payment for 10-19 properties.
iGMS
Since its launch in 2015, iGMS has grown to support over 100,000 listings with its property management system. You may know the company by its old name, AirGMS. In addition to a multi-calendar, automated messaging, and booking management, the system offers special functionality for automating cleaning team operations and notifications.
Unique features: Some systems only let you set up a direct Airbnb or Vrbo connection to one Airbnb or Vrbo account, but iGMS allows you to configure direct connections with multiple Airbnb accounts, which is a nice option for property managers who list different properties under different profiles. The cleaning management features also help to streamline cleaning operations at scale.
Integrations: Direct integrations are available with Airbnb and Vrbo (for rates, availability, and reservation); all other sites use a simple iCal connection. iGMS doesn’t offer much in terms of third-party software integration.
Pricing: After a 14-day free trial, iGMS offers two plans: a pay-per-booking plan with a fixed cost (around $1) per booking, or a monthly or yearly subscription with no fees per booking. The “Pro” plan costs $100 per month for 5 properties and includes 24/7 email and phone support. Under the same plan, 20 listings cost $360 per month with an annual subscription.
Disadvantages: iGMS does not offer a direct connection with Booking.com or Expedia, making it a less strategic system for property managers or hosts who want to distribute listings on sites beyond Airbnb and Vrbo. As of today, iGMS also does not offer a website builder.
Bottom Line: Professional property managers, rather than individual owners or part-time hosts, may get the most benefit from iGMS, especially if your business is focused on Airbnb and Vrbo and not Expedia, Booking.com, or direct bookings.
OwnerRez
Catering to the traditional vacation home market, OwnerRez brands itself as “built by owners, for owners.” The company believes in simplicity and transparency, but that doesn’t mean the system lacks functionality. In fact, OwnerRez offers a vast array of features, from a multi-calendar to a guest database to automated message templates and responders. OwnerRez is known for its clean, user-friendly interface and hands-on customer service. The company is open to suggestions and encourages users to let them know about any features they’re missing.
Unique features: OwnerRez offers their own damage protection and travel insurance products. The system also allows you to collect and analyze your guest reviews from a variety of different sites.
Integrations: OwnerRez offers integrations with dynamic pricing software (PriceLabs, Beyond Pricing, Perfect Price), several keyless entry systems (RemoteLock, among others), guest communication tools (Wishbox), and QuickBooks (extra fee applies). You can also add an OwnerRez widget to your website via WordPress, Weebly, SquareSpace, and WIX.
Pricing: After a 14-day free trial, OwnerRez charges a monthly fee dependent on the number of listings and a choice of add-on features. With no add-ons, the monthly fee for 5 listings is $28.99 (as of June 2020) and $131.99 for 50 listings. The plans include unlimited bookings. Add-ons include website hosting, channel management, and QuickBooks integration for a few more dollars per month.
Disadvantages: iCal imports and exports are included in the monthly fee, but for property managers who want to use the channel management functionality to sync rates, availability, restrictions, content, and policies to sites like Airbnb, Booking.com, Vrbo, and Tripadvisor, you’ll need to pay extra. OwnerRez does not have an integration with Expedia (yet).
Bottom Line: OwnerRez is a great choice for cost-conscious property managers who want a lot of features, integrations, and input into the company’s development pipeline.
Which is better to rent from Airbnb or VRBO?
Whether you opt for an Airbnb or Vrbo property depends on your needs and preferences. Airbnb offers more options than Vrbo, with over 6 million active listings that range from apartments and houses to treehouses and yurts. Vrbo has fewer listings, but the majority of them are traditional vacation homes, which are great for families and groups.
Conclusion
Vacation rental software has become an essential tool for the short-term rental industry. To start with, if you have vacation rental properties that you manage all by yourself out of necessity or simply out of choice, then you know it’s going to be hard work. Consider word-of-mouth referrals and recommendations the ultimate source of information on any subject. For example, if someone I trust (you!) recommends something to me, I am more likely to listen than the marketing content which is fabricated to be persuasive in order to make a sale. Therefore, the best way to find out about rental software, besides your own research and reading this article, would be from people you know. This will allow you to avoid being scammed or deceived by ads that have a hidden agenda behind each sales pitch.
When it comes to vacation rental management software, there are many options available for all types of property managers. Although the cost will depend on your business needs and the number of properties you manage, there are some great deals available if you take advantage of them. The main thing is to find a system that works best for your business by comparing all the features each company offers and choose one that fits into your budget.