A property management system that Increases Your Revenue
Property management systems are critical for managing property inventories, handling guest billing, and several other functions. But did you know that good Property management software can boost the revenue of your business?
THE RELATIONSHIP BETWEEN PMS INTEGRATION AND REVENUE
Any property management system can automate and streamline manual tasks, but a system with seamless integrations can extend that efficiency to far more than your properties’ operational sphere. Here are a few ways that third-party integrations can have a great impact.
There are countless possibilities in this area, too many to list here!
PERSONALIZE SERVICES AND OFFERS
Integration with a property focused CRM can facilitate the collection, storage, and retrieval of rent and tenant information across all touchpoints. By offering personalized information to your renters and leasers, you can give them the information they need. With the suggested selling of dynamic packages, services, and special offers during slower seasons, this level of personalization may also bolster demand in low seasons. With email and push campaigns, landlord can personalize promotions and send offers directly to renters.
CREATE UPSELL AND CROSS-SELL OPPORTUNITIES
Service providers who tailor services to guests’ preferences will often charge more. Salespeople have traditionally not been able to gain any advantage in selling because they lack the proper data and statistics. By integrating you can gain insight into trends and patterns of guest preference, spending, and behavior over their entire journey. By analyzing behavior and targeting the guests most likely to upgrade, a PMS can very effectively upsell room types before arrival. A modern Cloud based PMS ensures all aspects of a renters stay will be enhanced, as this will lead to a significant increase in guest spending.
CONSOLIDATE DIRECT BOOKINGS
Agencies that process online bookings through their websites like Expedia and Priceline can help your business grow significantly. However, OTAs inevitably do eat up a huge amount of your potential revenue, as they take a proportion of commissions you would have been owed. OTAs can be integrated directly into an organization’s program to reduce expenses. Channel managers add more control to your distribution strategy by allowing you to better manage your inventory. Your property can make use of this distribution optimization to shift the balance in favor of direct renting and leasing. You will be able to save on rents, maintenance and fees and increase your properties bottom line by reducing your reliance on brokers.
SAVE COSTS AND INCREASE REVENUES
In turn, PMS systems that are connected not only provide increased revenue but also help owners to manage their properties effectively. This solution is also ideal for increasing ancillary revenue, customer retention, and reducing your costs through automation of processes.
Property management systems affect all aspects of your rents business daily, making it important to choose one that will work for you.
Put Pickspace Plus to the test and request a demo today! We would be glad to provide you with a demonstration of our product offering and teach you how it can enhance your business!