4 out of 5 short-term rental guests are interested in keyless entry technology. The question remains, what benefits does this technology offer your property management business and your guests? Given the current economic climate and the rising competition in the short-term rental industry, it is essential to reevaluate your tech stack. So, with that in mind, are smart locks worth the investment?
To answer this question, let’s first outline keyless entry technology and how it works.
A keyless entry device enables anyone with the correct passcode (property manager, onsite employees, or booked guests) to lock and unlock accommodation without a key. Property managers can manage these smart locks remotely through a connected app.
What does this mean for short-term rental property managers? We’ve identified the key areas in which you can benefit from using keyless entry technology in your business:
Outdated rental security measures, such as lock boxes, are flawed. Not only are they vulnerable – often located on the front-facing part of the property – but they can also be prone to breaking. When it comes to using physical keys, you run the risk of guests or employees misplacing them and having to attend to the property yourself to resolve issues.
With a smart lock installed, you can eliminate such issues. You’ll be fully aware of who is accessing your property and when – receiving notifications whenever codes are used. This adds an extra layer of protection to your short-term rentals, especially when they’re vacant.
The access codes you provide guests are also temporary. The automated software provides guests with a code prior to their arrival and revokes access upon check-out, so they’re only able to enter the property during their stay.
The recent economic instability has led to a significant shift in the way businesses operate. Where can you cut costs without sacrificing quality? In order to maintain quality while simultaneously reducing costs, businesses are seeking innovative solutions. Access technology, in particular, can assist property managers in achieving these goals while also adding value to their business.
Smart lock solutions provide instant notification of property activity, allowing employees, such as housekeeping and inspection teams, to efficiently carry out their tasks as soon as the rental becomes available. This streamlines the entire turnover process, ultimately leading to cost savings and improved operational efficiency.
What’s more, with this automated solution in place, you won’t have to be the middle-man for such workflows. This allows you to focus on other aspects of your business, thereby maximizing productivity. Overall, implementing access technology is a win-win scenario for property managers seeking to enhance their business operations.
Guests want a seamless check-in experience
Competition in the short-term rental scene is heating up. AirDNA has confirmed that supply in the US hit record levels last year, making it even more difficult for property managers to appeal to guests. Those looking to stand out must take note of industry trends, particularly when it comes to what guests are searching for in rental properties.
One major trend we’ve seen in recent months is the demand for a seamless check-in experience. Guests want convenience and prefer contactless solutions over processes such as checking in at a front desk or meeting onsite employees to exchange keys. Providing keyless access technology can help property managers give guests the experience they expect, driving booking appeal and overall stay satisfaction.
Since flexible workplace policies have given rise to trends such as digital nomadism and blended travel, guests are increasingly searching for a home away from home. This means accommodation with cozy living environments and amenities similar to those they have in their own homes. According to our research, 3 in 5 short-term rental guests already have experience with smart locks, suggesting that adding such technology could further attract extended stay guests.
Sometimes smart lock solutions don’t even require new locks to be installed in your properties. If your short-term rentals already use some of the most common smart locks, such as Yale, Schlage, or Kwikset, they are compatible with the keyless entry solution. The smart home technology effortlessly integrates with these compatible locks – making installation quick, easy, and more cost-effective.
Keyless entry is the future for short-term rental properties. At a time when guests are increasingly demanding convenient solutions and a seamless experience, operational costs are rising, and competition is high – it’s a smart move to lean on top tech.
Here at PointCentral, we’ve recently updated our smart lock integrations and expanded our compatible hardware to include devices from Schlage and Kwikset. If you’d like to find out more about the installation process, get in touch with one of our team members here.