Introduction
Over the last decade, technology has revolutionized the vacation rental industry. However, adoption of this technology has been limited due to the high costs needed to acquire and properly maintain the systems. While most vacation rental management companies choose to pocket their profits, SoCal Vacay has made an ongoing commitment to invest in the latest technology for the benefit of our owners and guests. While using systems to track finances and manage operations is a core focus of ours, we take it further using Artificial Intelligence (AI) to help drive more revenue. Whenever we invest in technology, we make sure it focuses on helping us achieve one of the four goals discussed below.
Maximizing Your Revenue
We’ve employed two major technologies to set us apart from the competition and ensure money isn’t being left on the table: Artificial Intelligence and Integrated Distribution Channels. Our AI algorithm analyzes over 100,000 points of market data to recommend a competitive price for your rental property based upon local market rental utilization and pricing. Additionally, our AI’s dynamic pricing feature will automatically adjust the price based on supply and demand in real time increasing revenue by charging higher prices during high demand seasons and lowering prices during low demand ones. Once pricing is set or adjusted by AI, it gets sent out to all our listing partners (AirBnb, VRBO, Expedia Group, etc.) through our Integrated Distribution Channels. Which is a fancy way of saying our system automatically communicates with our listing partners to populate your properties information on their website. The more websites your property is listed on means more guests viewing and booking your property.
Protecting Your Property
Aside from requiring an age limit, most people still think there isn’t much you can do to protect a property from a problematic guest. This couldn’t be further from the truth! We use an online process that helps us screen potential renters carefully so your property is only rented to responsible and trustworthy individuals. Specifically, we conduct a number of identity checks to verify guests are who they claim to be. This includes requiring our guests to submit a photo ID and an additional photo of themselves that matches the name on the booking. After verification we require our guests to sign legal agreements that hold them responsible for any damage caused by them during their stay. Lastly but perhaps most importantly, we also insure every guest stay as a final step to protect your property. All of this is done easily after payment is accepted so guests aren’t inconvenienced, and bookings aren’t lost.
Providing You Visibility
Our owners are never left in the dark waiting for a monthly or quarterly update to know what’s going on with their property. When we setup your property in our system, as an owner you get a personalized portal where you can view the properties we manage for you, the bookings they hold, financial statements, and much more. You can even perform functions such as blocking off your property for personal use and submitting maintenance requests. The portal is accessible through a desktop browser or our mobile app for owners so its always just a few clicks away.
Efficiently Managing Operations
Our core system plays a crucial role in the daily operations of managing your vacation rental property. Not only does it support all the items already discussed by acting as the technologies’ backbone, it also streamlines and automates various tasks while improving communication and collaboration amongst our team members. Thanks to these systems, our team can efficiently handle a large portfolio of properties and guests, track and maintain records, and analyze data all geared to help keep fees low and profitably high.
Conclusion
Technology has become an integral tool for us, providing numerous benefits such as maximizing revenue, protecting the property, providing owner visibility, and enabling efficient operation of the business. Thanks to years of investment and continuous improvement efforts here at SoCal Vacay we are able to offer our owners the best service possible while putting more money into their pockets. If you are interested in having your property powered with the latest technology, give us a call at (760) 443-2367 or reach out to us through the form below!
Intro
Using a property management company for a vacation rental can provide a number of benefits for both property owners and renters. Here at SoCal Vacay we work hard so our property owners don’t have to. From start to finish we handle EVERYTHING so you don’t have to lift a finger other than to collect a check. Here are a few of the key advantages of working with us to manage your vacation rental.
Generating More Income
Listing: If you manage the property yourself you are likely only able to list on one site, maybe you can manage two, such as AirBnb or VRBO, but listing on multiple sites can lead to issues like double bookings. Our centralized marketing, booking, and property management system manages all the data and pushes it out to popular listing sites to make sure your property is visible to the masses. That’s more than any other competitor we’ve seen!
Pricing: We have invested heavily in technology that uses Artificial Intelligence (AI) to set the price for vacation rentals we manage, which helps generate more revenue for our owners. Our AI algorithm analyzes over 100,000 points of market data to recommend a competitive price for the rental based upon local market rental utilization and pricing, which can help attract more guests by remaining competitive. Additionally, our AI’s dynamic pricing automatically adjusts the price based on supply and demand in real time. This can help increase bookings and revenue by charging higher prices when there is high demand and lowering prices when there is less demand no matter what the cause. AI systems like the ones we use are prohibitively expensive to owners managing just a few personal properties, but it is all included in our property management service.
Marketing: We start marketing your property effectively by creating a compelling listing that includes detailed information about your property, as well as professional high-quality photos. Beyond listing your property on over 20 popular websites we run targeted marketing campaigns to previous guests which yields meaningful results due to our high customer satisfaction and subsequent renter return rates. Earning repeat business like this takes time and consistent high quality guest experiences that you benefit from immediately by working with us.
Handling the Hassle
Permitting: Working with municipalities can often be a difficult and daunting task, especially when attempting to gain a permit. Thankfully, we have become experts at working through the varying processes of different cities in Southern California and can manage the process so you don’t have to.
Listing: Managing a listing is just the beginning of the ongoing tasks you’d have to perform if you decide to manage your own property. Getting professional photography, writing detailed descriptions of the property, adding the list of amenities, and creating a manual for your guests to reference during their stay are just some of the things you’ll need to complete before publishing your listing.
Guest Care: This is where we truly set ourselves apart. Providing first-class guest care and experiences has been our top priority since we’ve started our business over a decade ago and it continues to be the central pillar we’ve built our reputation on. Whether it’s responding to inquiries from potential guests, checking them in and out, or assisting them with issues and questions during their stay, there’s no one that does it better than we do. We take no shortcuts in offering our guests premium service and it’s resulted in both satisfied owners and a strong pool of repeat guests.
Property Protection and Maintenance
Property Protection: We take protecting your property seriously here at SoCal Vacay. The number one way we do this is by screening potential renters carefully so your property is only rented to responsible and trustworthy individuals. We conduct identity checks to verify they really are who they say they are. This includes requiring our guests to submit a photo ID and an additional photo of themselves that matches the name on the booking. After verification we require our guests to sign legal agreements that hold them responsible for any damage caused by them during their stay. Lastly but perhaps most importantly, we also insure every guest stay as a final step to protect your property. All of this is done easily after payment is accepted so guests aren’t inconvenienced and bookings aren’t lost.
Property maintenance: We ensure your property is well-maintained and in good condition. Not only do we handle cleanings after every guest stay, we ensure your property is fully maintained so you don’t have to lift a finger. This ensures renters have a positive experience while staying at your property and don’t leave a nasty review about a burned out lightbulb or broken air conditioning unit. It’s also worth mentioning that pools and hot tubs are covered, too. Big or small we make sure your property is ready for you or your next guest to have an amazing stay.
Owner Portal: Our high level of service doesn’t just extend to our guests, but to our VIOs (Very Important Owners). Every owner gets a personalized portal where you can view the properties we manage for you, the bookings they hold, financial statements, and much more. You can even perform functions such as blocking off your property for personal use and submitting maintenance or other work order requests. The portal is accessible through a desktop browser or our mobile app for owners.
Conclusion
We are committed to helping you unlock your property’s potential and create maximum revenue generation. At SoCal Vacay we stand behind our company motto of providing our owners the “Peace of mind you need and the Financial returns you deserve”. Reach out today to learn how much your property could make when you choose us as your management company!