PMS (Property Management Software)
What is property management software?
Property management software (PMS) is any app, system, or program that helps manage rental properties and organize business tasks. Those business tasks could range from managing your bookings and availability, to maintaining any insurances and regulations you may have on your rental properties, and generally managing your guests’ stay and experience.
PMS can offer extremely expansive features, including (but not limited to):
- Inventory Management
- Calendar Management
- Guest Communications
- Guide Books
- Direct Bookings
- Upsells
- Channel management
- Accounting
- Integrations
Because of the many moving parts of managing a rental, this helps organize them into one singular platform.
Why they matter
PMSs are helpful for teams and individuals that want to sell their listings on multiple vacation rental sites like Airbnb, VRBO, Expedia, HomeAway, Booking, Google, and more. Instead of building a listing for each site, a PMS will help you create and manage your listings across all sites.
PMS is the nerve center of your business and incredibly important to get right. They are the data center for your listings, the largest software category you will see on this list, and the “hub” for your business.
With the wide array of features and functionalities that are offered by property management software, there’s no question investing in one will make your life easier–and help increase revenue while reducing management costs.
Best tools to use
Before deciding on which system to use, it’s essential to identify what your business or properties need. Since so many tools are on the market, we put together a list of property owner favorites.
- Avantio: Avantio offers an array of property management tools and services specifically for the vacation rental industry. Their features include a unified inbox for all rental inquiries, easy check-ins, a simple payment system to automate revenue, and postings on multiple websites at once. The platform works with Airbnb, Booking.com, and VRBO. Their packages include training and support, ensuring the platform best suits your needs. Plus, they don’t charge a commission on your bookings.
- Barefoot: Barefoot understands that each rental property is different, which is why they customize their services to your needs. Their clients include vacation rentals, corporate housing, long-term rentals, and property owners, making them a diverse platform. Their software provides a live booking engine with all the information a web visitor needs to make a renting decision.
- Guesty: Guesty aims to help property managers better manage their portfolio of rentals. The goal is for their clients to save time on the tasks it takes to manage a rental property. They offer a multi-calendar and task-assigning app that helps improve guest communications, manage property listings across multiple platforms, and optimize market pricing. The main selling point for Guesty is the ease of communication with guests. If you’re struggling with this, Guesty may be a good tool to add to your kit.
- Hostaway: Hostaway’s tagline is “an end-to-end solution for the professional short-term property manager.” It automates many of your tasks and creates a centralized location to manage all your bookings on one platform. One central calendar synchronizes your listings so they all have consistent information. They also integrate with Wheelhouse, which means they take advantage of dynamic pricing strategies for their bookings.
- Hostfully: Hostfully offers similar services to Hostaway: a central dashboard for all your bookings, communication, and calendaring. They also offer digital guidebooks to assist you with your branding. The right branding can help elevate your listing and create more drive from web users. If you find that creating your listings is one of your more complex tasks, Hostfully can provide an easy set of tools to use.
- LMPM: In addition to centralized booking information, LMPM also provides resources and tools to build your own WordPress site to manage all rental inquiries and move away from third-party platforms. If you feel motivated to develop your business, LMPM could have the resources you need.