HYBRID BOOKING & MANAGEMENT: THE BEST OF BOTH WORLDS
Written by Elitza Batchiyska
Oftentimes, when renters are searching for the right vacation home – dedicating hours to perusing through pages of pristine properties – they don’t always know what they’re getting themselves into. Similarly, when homeowners are looking for the right place to list their property, they don’t always know what they’re signing up for. It’s odd isn’t it? Each party puts loads of time and patience into finding the right accommodations or representation, and both are not always informed to the fullest.
Many times, the exorbitant booking fees and commissions tacked on by large-scale providers like TripAdvisor, Expedia, and HomeAway are just that: exorbitant fees meant to disillusion renters and homeowners alike about what services these sites actually offer. Sites like these are referred to as online travel agencies (OTAs) and usually cover the booking portion of the process, later on dropping off to leave correspondence between renter and homeowner – or sometimes, even a renter and nobody at all.
Due to the lack of monitoring and involvement by many of these OTAs, renters using these are more likely to fall into a scam or end up at a property with no one to correspond with if any issues arise. With these worries in mind, many homeowners then sign up with a property management company (PMCs), which can manage the properties once the booking process is complete so that the homeowner can have minimal involvement. However, the problem with each of these is that they do not offer the advantages of the other. Property management companies often don’t offer their own booking platforms, and booking platforms usually don’t offer property management.
So if you’re a homeowner looking to have your property rented out and managed by one trustworthy company, or a renter looking for the most secure way to book, what’s the best answer?
The solution for both parties is a hybrid booking and management company (HBMCs). These companies like Nomadness Rentals for example, offer online advertising, booking, and complete property management. Nomadness Rentals has spent nearly a decade honing its expertise in each of these fields, and has succeeded exponentially, perfecting the process to a tee. With Nomadness Rentals, homeowners who don’t want the complete package can choose to simply advertise, or just book online, and can customize their level of management – i.e. whether they want complete management, with us taking over all repairs, rate changes, etc., or whether they want to make decisions concerning the property itself and just have us take care of the guests. Everything is possible.
Additionally, HBMCs like Nomadness Rentals typically offer their own booking platforms too, with easy-access for homeowners to their accounting, renter reports, and up-to-date booking calendars. Everything is at the homeowner’s fingertips, and renters can rest assured that they are in trustworthy hands, with access to a 24-hour emergency line, experienced representatives, and a knowledgeable quality control team. So, whether you’re a homeowner looking for the right hands to place your property in or a renter trying to make sure your reservations are as secure as possible, HBMCs are the way to go.
Much like a hybrid car, HBMCs have a higher efficiency rate due to optimizing two methods of fuel (booking and management services) so you get more bang for your buck. Utilize OTAs for exposure, PMCs for assurance and HBMCs for more RPMs (in this case – reservations per month).
Together, we are entering a new era of vacation rental booking and management. Although these two fields of expertise were once in competition with one another, forward-thinking companies are bringing them together to maximize performance. Another factor to consider is this: while there are some vacation rental companies out there that offer management and online booking, they’re still not entirely independent because they don’t have their own booking platform, but rather usually rent out space on one hosted by another company. A true HBMC, like Nomadness Rentals, will have its own platform, setting the standard while simultaneously becoming a leader in the vacation rental industry.