June 29, 2020
As a property manager scales their business, it becomes necessary to implement a management software. This essential tool, known as a property management system (PMS) automates day-to-day operations, allowing you to focus on improving marketing campaigns, onboarding new properties and perfecting the guest experience. But not all PMS are the same. To optimize your operations, you need to find the one that best fits your business model.
Here’s what to look for:
The ideal PMS allows you to control your operations from a central dashboard. This includes managing your listings across all booking channels. The central dashboard provides stats on bookings across your portfolio, letting you know how well each property is doing. You can even add tags to your listings to organize them by building, owner or any other label.
On top of the dashboard, a PMS should organize all of your messages into one unified inbox, including guest and client texts and emails, as well as online travel agency (OTA) messages. It acts as a built-in customer relationship management (CRM) tool, keeping you on top of your correspondence and informed of any client and guest feedback.
Finally, the PMS should empower you to develop processes for each aspect of your operations. An example of this is the PMS’s task management feature, which allows you to assign tasks to employees—anything from onboarding duties to guest communication. This can also be applied to outsourced services, such as cleaning. If you have an early checkout, you can create a task alerting your cleaning team and improving turnovers.
As a property manager, your time is valuable. That's why you need a PMS that eliminates the need for manual, tedious tasks. For example, your PMS should have the capabilities to create a dynamic communications flow between you and your guest. The system accomplishes this with automated messages. Rather than copy and pasted check-in instructions for each guest, you can create automated messages to go out according to a set schedule. These can be triggered by various conditions, including booking confirmation, an approaching check-in date and checkout.
By saving time on communications, you can focus on optimizing your listings. The PMS should allow you to adjust prices and update descriptions for your listings across all booking channels. And to avoid double bookings, the PMS’s calendar will automatically block off days across all listing sites once a property has been booked. No more wasting time logging in and out of different booking channel extranets.
Besides its own features, look for a PMS that offers integrations with a wide variety of automation tools, including keyless entry, temperature control and security features, like Autohost. It should enable you to choose how you run your operations.
Grows your business
The right PMS should turn your business into a well-oiled machine, handling the day-to-day operations. When you don’t have to sweat the small stuff, you can focus on big-picture growth through sales, onboarding and customer experience.
The PMS should also provide tools to help you grow your customer base, such as increasing brand awareness through your own direct booking site. That way, after a successful reservation, you can encourage repeat guests. Look for a PMS company that offers basic website design tools and templates to give you an eye-catching website.
To take your business to the next level, you need to invest in a PMS. Just make sure it’s the right one for you.
To find out more on how to choose the right PMS, we spoke to some of the top companies in the business. Check out our expert guide.