The US vacation rental industry is a large sector and in 2023, the short-term rental market reached approximately $64 billion in revenue. Each property manager wants their share of this market and to be successful, preparation is key.
In the months leading up to peak-season, it is important for property managers to assess each property ensuring they are in good working order.
To distinguish themselves in a crowded marketplace, savvy property managers will also identify areas where they can exceed expectations and ensure their properties surpass the competition. One way to accomplish this is by offering the latest short-term rental technology that provides guests with the ultimate comfort and convenience during their vacation.
With a wide range of Short-Term Rental technology available, we have put together the top four STR technologies that guests expect in their vacation rental this summer:
1. Smart locks for seamless check-in and check-out
The days of organizing key exchanges or vacation rental handovers are long gone, in fact guests would now be surprised to receive a physical key when checking-in. Smart locks are now widely accepted and are the most convenient way for guests and property managers to grant access on arrival. With features such as custom access codes, and even the ability for property managers to unlock doors via a smartphone app, smart locks are not only more convenient for guests but provide an added layer of security. Property managers who have adopted smart locks into their short-term rental are giving their guests a smoother check-in and check-out process while saving themselves time.
2. High-Speed Wi-Fi: A Non-Negotiable Essential
In today’s connected world, high-speed Wi-Fi is not just a luxury; it’s a necessity. Whether guests are remote workers, streaming enthusiasts, or simply looking to share their vacation experiences on social media, reliable and fast internet is a must-have. Providing high-speed Wi-Fi can significantly improve guests’ overall satisfaction and is often a deciding factor when choosing between a range of rental options.
3. Smart Thermostats for Comfort and Efficiency
Smart thermostats offer guests the perfect balance of comfort and convenience while helping property managers save on energy costs. With the ability for property managers to adjust temperatures remotely or set automatic schedules, guests can ensure their rental is at the ideal temperature upon arrival and throughout their stay. Additionally, smart thermostats contribute to reducing the property’s carbon footprint, making this technology appealing to environmentally conscious travelers.
4. Predictive maintenance technology
While predictive maintenance technology isn’t necessarily something guests look for, they certainly benefit from having the technology installed in their vacation rental property. Intelligent HVAC systems and smart water solutions prevent costly breakdowns while the property is occupied. Intelligent HVAC monitoring notifies property managers in advance if the system is taking too long to heat up or cool down, while smart water management can automatically sense a leak and shut off the water flow to prevent property damage. This means that managers can organize maintenance around guest stays and prevent catastrophic damage while guests are in the property that in the worst case scenario, could require guests to relocate.
Want to find out how you can integrate AI and smart technology into your short-term rentals? Read Angel Piontek’s thoughts in VRMA Arrival.
