The emergence of the rental industry has changed traditional industries like travel, transportation, accommodation, and several other industries to reconsider their business model.
The rental industry has positive implications, some of which include increased convenience, resource utilization, job creation, and many more.
As a property owner or manager, managing rentals can be a complex and time-consuming task.
With the increasing demand for rental properties and the need for efficient management, rental property management software has become an essential tool for businesses in the industry.
These software solutions offer a range of features designed to streamline operations, increase efficiency and profitability, and provide a better user experience for both property owners and renters.
From automating tedious tasks to providing valuable insights, property rental software has the power to transform your business and help you stay ahead of the competition.
This blog provides an overview of some of the key features of rental property management software and explains how they can benefit your rental business.
The features will determine the success rate of any business platform.
When it comes to the property rental management app, you need to be attentive to providing spacious features that will engage both the renter and host/property owner to use your platform.
The renter, host, and admin will have their preferences. let us see their priority and check out the essential features in detail.
The customer or renter app has accompanied the following core features:
The Multiple Signup and Login enable renters to create an account and log in by using various social media accounts, Google, and Email. These feature helps to manage more than one account at the same time and make it easier to compare them.
Once the renter created their profile, they can browse through the app and view the accessible properties based on location, dates, and the number of guests. They can also filter their results by adding property types, conveniences, price ranges, and much more.
This feature allows renters to communicate with property owners directly through the app and discuss their needs and requirements. They can also chat with them in case they have any queries related to the property.
The rental property management software has an integrated payment gateway that allows renters to book and pay for their stay via the app itself.
They are required to pay a portion of the charge while booking and the leftover balance is to be paid before check-in.
The renters can view and manage all their previous and current bookings from one place. They can view the subtleties such as date, duration of stay, and so forth.
Once the renters have completed their stay, they can give feedback to the property owner for their service and cordiality. They can likewise rate the rental home and provide suggestions if needed.
Renters should receive notifications throughout the booking process, including confirmations, check-in instructions, and updates from the host.
The host/property owner app has accompanied the following core features:
Hosts can list their properties on the platform and add pictures, pricing, and other subtitles that they wish to let the renters know. Furthermore, they can likewise add their property guidelines.
Once the property is up on the platform, hosts can update their listings as the need arises. They can make changes to the title, description, calendar, and pricing.
However, these updations will only apply to the new bookings and not to those that have already been made.
This rental management app feature guarantees that the host only receives event booking script requests from renters when the space is available. In this manner, they can set up their calendar and mention details such as how far bookings can be made.
Hosts can see every one of the transactions and bookings that have been made till the current date. This includes the past, current, and upcoming ones.
Hosts can communicate with potential guests and get some information about their needs and requirements. for example, the itineraries and if they wish to have any additional inclusions in their stay.
Hosts can view their earnings and manage their property’s pricing and discounts through the rental property management software.
The admin panel has accompanied the following core features:
This vacation rental app feature allows the admin to manage and supervise the hosts and renters. They can have a quick overview of them in a solitary look through the dashboard.
Admins can access each host’s profile. They can get all the data related to their total earnings, penalties, incentives, and ratings.
Admins can handle all the renter’s queries and access data such as cancellation charges, discount codes, referrals, invites, total bookings, and so on.
Admins can track the ongoing bookings and transactions that are occurring on the portal in real time.
The admin dashboard’s analytics feature gives a clear picture of all data related to the hosts/property owners, renters, and the total number of services booked and transactions carried on the app.
The admin can manage the entire bookings with consent like update, modify, delete, and so forth. Furthermore, the Admin can confirm payments received on the platform by the users - hosts, guests, advertisers, and so on.
The admin can add, update, and delete amenities accessible under various properties listed on the platform.
These were the core features of Rental property management software that you can integrate into your three variants.
Aside from these, there are some exclusive features that you just can’t bear to miss if you want your property rental app to stand out.
Let’s have a look at them, and you can choose which one works best for yourself as well as your app.
Here are the top 3 exclusive features you can add to your vacation rental app to get a competitive advantage over the other existing apps.
Same Day Bookings
Those days are gone when people used to book their stays months in advance. Presently, they plan things in a jiffy and search for last-minute accommodation.
By adding this feature to your property rental app, you allow the renters to book and stay in a home on the same day.
Subsequently, you can integrate a search filter for same-day bookings in your app so that the renters can choose to refine their housing rental options.
Save For Later
There are times when renters like a specific housing rental or go over one on the app they would love to stay in.
In both cases, they can save the selected homestay in the app and return to it whenever they want.
In this manner, it is an extraordinary feature to integrate into your property rental app as your users won’t have to worry about looking for their favorite home again.
One-Click Invite
Planning a trip with friends can be much more fun with this feature. Your app users won’t need to consistently switch between apps to discuss the most ideal options for a homestay.
All they’ll need to do is simply select the one-click invite feature, and their family and friends can view the condo together.
This feature would make the entire planning process hassle-free, and every one of the guests will be able to choose an option that fits everyone’s needs.
We all know that businesses will grow faster and better with a digital presence.
It is expected that the online rental business is going to reach a greater level in the next few years and stay strong for decades.
The key features of rental property management software are listed in this blog for you to make clear about the online renting process.
For new entrepreneurs who are interested in launching their businesses, the online rental service is the best choice for generating huge revenue in a short span with less investment.
