Analyzing and reacting to marketing fluctuations in the vacation rental industry can be a full-time job in and of itself. There is little room for error, and small mistakes can add up to major losses of income.
Despite how essential this function is to maximizing profits, there are few tools available for vacation rental property managers that can automate it, and even fewer that can implement pricing changes automatically.
Streamline is now offering a suite of revenue management tools that can automate all of these processes based on rules that you create. Best of all, these features (as well as many others) are included in Streamline’s all-in-one platform.
Revenue Management Tools for the Vacation Rental Industry
The beauty of Streamline’s all-in-one platform is that data-based functions, like the revenue management tools, are always going to be accurate. Using Streamline as your booking software, website provider, and CRM means that you’ll never have to worry about errors while importing data. Any relevant information is gathered as it comes in, so you can feel confident that Streamline’s dynamic pricing recommendations are accurate.
One of the biggest struggles in the vacation rental industry is filling occupancy gaps. Often, the smartest solutions are changing nightly minimums or making the pricing dynamic. With Streamline, property managers can change these rules with just a click of a button and using the guidance of trusted data. You can even automate these adjustments based on your yielding rules. Making strategic pricing decisions is easier when you have a wealth of trusted data at your fingertips.
Make Exceptions to Be Exceptional
In an ideal world, vacation homes would be reserved on a weekly or monthly basis without any variance. However, occupancy gaps are something that vacation rental property managers deal with on a daily basis with no good tools to automatically adjust a home’s minimum-night stay or pricing. Streamline saw that “gap” in the market and created a system of features that work together to automatically adjust (or not adjust) based on a series of rules.
For areas where it’s necessary or prudent, you can set a “stay restriction” so our system will never adjust that area’s minimum length of stay. Conversely, you can use the gap logic feature to adjust the minimum night stay based on an availability. Of course, you are able to set the lowest length of stay that is acceptable within a gap. Thanks to the dynamic minimal nights feature, the minimum length of stay will either increase or decrease within a specific number of days prior to arrival.
Learn From the Experts at RevMax
In addition to the many features included in Streamline’s revenue management tools, you can add optional modules courtesy of RexMax. They offer tools that can take your dynamic pricing to another level as well as a 12-week boot camp that covers industry best practices or full management of your brand’s pricing strategy.
See What Streamline Can Do For Your Business
Spend less time agonizing over spreadsheets and market data when you sign up for Streamline’s powerful all-in-one platform. With these innovative tools designed specifically for the vacation rental industry, you’ll be able to streamline your sales, customer management, and reporting processes with ease.