Running a vacation rental business is not easy. It is actually quite difficult and competitive. If you are not using a channel manager, you may be losing potential rental income and making your life a lot harder than it needs to be.
What is a channel manager?
A channel manager is software that connects your vacation rental listing (or listings) to booking sites. It allows you to update your calendar and rates on all connected booking sites at once, saving you time and preventing double bookings.
While some property owners and managers choose to list their rentals on just one or two booking sites, we recommend using a channel manager to list on as many sites as possible. The more places your rental is listed, the more likely you are to get bookings. And with a channel manager, keeping your listings up-to-date is easy.
There are many different channel managers on the market, so it is important to do your research to find one that best suits your needs. Some factors you may want to consider include
- Ease of use
- Supported channels
- Pricing
Do I need a channel manager for my vacation rentals?
While a channel manager can be a helpful tool, it is not necessary for every vacation rental property manager. If you only have one or two listings, it might be easier to manage them without a channel manager. However, if you have multiple listings or are planning to add more in the future, a channel manager will save you a lot of time and effort.
To decide whether a channel manager is right for you, ask yourself the following questions
- Do I have multiple vacation rental properties?
- Do I want to list my rentals on multiple booking sites?
- Am I willing to pay for the convenience of using a channel manager?
If you answered yes to any of these questions, then a channel manager is probably a good investment for your business.
What are all the benefits of a channel manager?
There are many benefits of using a channel manager for your vacation rental business. Here are just 5 benefits.
Saves time
A channel manager saves you time by allowing you to update your calendar and rates on all connected booking sites at once. This is a huge time-saver, especially if you have multiple listings.
Prevents double bookings
By keeping your calendar up-to-date on all booking sites, a channel manager prevents double bookings and maximizes your rental income.
Makes it easy to add new listings
If you decide to add new vacation rental listings, a channel manager makes it quick and easy to get them set up on all the major booking sites.
Helps you track your performance
Many channel managers offer to report features that help you track your rental performance. This data can be very helpful in making decisions about your business.
Makes it easy to accept online bookings
A channel manager makes it easy for guests to book their vacation rental online. And with more and more travelers booking vacation rentals online, this is a very important benefit.
What are some things to look for in a channel manager?
Not all channel managers are created equal. Here are a few key features to look for when choosing a channel manager for your business.
Ease of use
You want a channel manager that is easy to use and understand. The last thing you want is something that is going to add more complexity to your already busy life. Look for a channel manager with a user-friendly interface and good customer support.
Supported channels
Make sure the channel manager you choose supports all the booking sites you want to list on. Otherwise, it won’t be very helpful.
Pricing
Some channel managers charge a monthly fee, while others take a commission on bookings. Compare pricing models to find the one that is most cost-effective for your business.
These are just a few things to look for in a channel manager. Be sure to do your research to find the best one for your needs.
How much does a channel manager cost?
Channel managers can vary in price, depending on the features they offer and the pricing model they use. Some channel managers charge a monthly subscription fee, while others take a commission on bookings. Pricing can range from $0 to several hundred dollars per month.
When comparing prices, be sure to look at the features offered and not just the bottom line cost. A more expensive channel manager might save you money in the long run by preventing double bookings or offering reporting features that help you increase your rental income.
To get an idea of how much a channel manager might cost for your business, consider your average booking value and number of bookings per month. Then, compare the prices of different channel managers to see which one is the most cost-effective for your business.
Bottom line
A channel manager can save you time and money by keeping your calendar up-to-date on all connected booking sites. It also prevents double bookings and makes it easy to accept online bookings. When choosing a channel manager, look for one that is easy to use, supports all the booking sites you want to list on, and is priced fairly.