Whether or not you have embarked on your VRBO journey yet, it is important to understand what goes into the management of a listing—or two, or ten! But before disclosing the secrets of VRBO management, let’s talk professionalism.
Why Is Strategic Management So Important?
Although platforms such as VRBO initially started as mainly DIY, ever increasing standards and competition in the space require a higher level of professionalism and organization than ever before. Because of competition in Vail, things that were previous luxuries and perks have turned into necessities and customer service standards are at an all time high! With these increased standards, it becomes harder than ever to keep up and earn your share. These are just a few of the reasons why VRBO management companies have become increasingly popular and successful within Vail in recent years. Additionally, having a property managed allows homeowners and full-time working individuals to save time while increasing their take-home cash flow. Okay okay, you’re convinced. What goes into management?
What Goes Into Management?
Here is the answer: a lot. Although it depends on what service or agency you prefer, there is an immense level of detail that goes into VRBO management no matter the property type or situation. As with any full-time business, it’s critical to provide things such as customer service, sales, marketing, and an overall outstanding experience (housekeeping, security, addressing complaints, etc). Most likely, if these aspects don’t get the attention they deserve, your listings don’t get the attention they deserve from potential guests. Some management services in Vail even include performance updates so you know how much attention you truly are getting. But how do they do that?
Tools
Management agencies provide value to clients in many ways, but tools play a major role! Theoretically, you want to manage your listings yourself, or maybe you already are. That’s great! But are you automatically responding to messages? Do you list on multiple platforms? What if you have multiple listings and don’t know who is coming and when? These are all common weaknesses of VRBO operations that can easily be fixed.
To make the most out of your listings, we recommend using Property Management software and connecting it to a Channel Integration manager. Wait, what the F*$# are these? Let’s break it down.
Your Property Management software (PMS) keeps track of all your messages, bookings, and payment in one easy to access place. Yeah, that sounds good but it’s important to note that the true value of a PMS is when you connect it to a Channel Integration Manager (CIM). The CIM connects your listing data to multiple platforms so that you can get the most bang for your buck. See the picture now? Why list on 1 platform when you can list on 10 or 15? Now that you’re getting the hang of it, just remember that your PMS can also keep track of multiple reservations at multiple listings and even send automated messages.
If this doesn’t sound cool enough (or you’re already using these methods), look up Guesty and Rentals United to see for yourself! Want some help setting it up? Schedule a call with us to get started today by emailing scott@awayagents.com.