– a post from Your.Rentals CEO, Andrew Martyn
I’d like to share some great news with you. Since we launched Your.Rentals in November 2016, we’ve exceeded our own expectations and yesterday passed 10,000 registered property managers! I’d like to personally thank each property manager for the time you have invested in getting started with Your.Rentals, and look forward to building a bright future together.
You may wonder why this is important to you. I believe it is important because the more traction Your.Rentals has in the market, the easier our progress is in connecting new channels and growing faster. As an early user of Your.Rentals, you’ve taken a leap of faith and now it’s time for the payback.
Over the past 2 weeks, we invited some of our property managers to give us feedback via a short survey (thanks to the more than 500 property managers who responded!), and I’d like to share and respond to some of the key findings.
You’ve asked for some things from us, and we also have some tips to help each of you become more successful in using our platform.
It’s important to remember that Your.Rentals is a “performance-based” vacation rental management and distribution platform. Your.Rentals is different because we do not charge monthly subscription fees like most of our competitors. We get paid when you get paid. We see this as the perfect balance to a business relationship and it drives our company philosophy.
Your feedback and our response
Feedback 1: Some of you are unsure about setting prices, fees and payout calculations
Some property managers have said they are confused about how to set prices and how our fees are applied to calculate your payouts.
This is a top priority issue for us – as we want to ensure you never need to turn down a booking due to incorrect rates or unexpected payout amounts.
We’ve made a new page on our website to explain this more clearly, and also to help you understand why we charge the fees that we do. I would encourage every property manager to take a few moments to read this to ensure that your prices are set to achieve the payouts you expect.
We also introduced some features earlier in 2017 to show you both the guest and payout amounts where you set your rates, and show your nightly rates in your calendar. Last month we released our Listing Preview feature where you can select dates and we’ll show you the pricing and payout calculations so it’s easy to double-check. Use these tools and we are sure that you’ll be able to set your rates correctly. If you do need any help, please get in touch with our support team.
Feedback 2: You want to be able to see your listing live in sales channels
We agree that seeing your listings live in channels will give you confidence that Your.Rentals is working the way you expect, and allow you to double check for any errors in your content, rates or availability.
You can now find a View listing button in our Channel manager so that you can to click to see your listing in that channel. Not all sales channels provide us with the direct links to your property (for example HotelBeds, HomeToGo etc), however where possible we are providing you with a link.
Feedback 3: You want more sales channels
We aim to perfect the performance of each sales channel before introducing new ones – so that we’re able to deliver correct bookings to you. Over the first half of the year, we’ve focused on ensuring that key channels are working well.
Now we’ve turned our attention to releasing new sales channels, and I’m happy to announce our distribution is live to Agoda, HotelBeds and Only-Apartments – with a significant number of new channels planned to be connected before the end of the year.
Due to some of our property managers having too high cancellation rates (read more about that here), some of the new channels such as Agoda will be invitation only to begin with. We’ll be letting you know by email when a new channel is connected, and what you need to do to ensure your listing is connected.
Feedback 4: You want more bookings!
As Your.Rentals is a performance-based platform (we earn money when you get bookings) our goals are completely aligned with you on this.
We acknowledge that not all property managers have received their first booking via Your.Rentals. With our new channels and some new features coming in the next few months, each week you have a greater potential to receive bookings.
There are a few things that you can do to increase your success:
- Ensure that your calendars and rates are up to date – that will ensure your listings remain online, and that each booking is correct. It will also mean that you will be automatically included in our invitation-only channels. You can use the Listing Preview feature to check how the guest sees your availability and rates, and double check the payout you’d receive for bookings on different dates.
- Where possible activate Instant Booking – this will expand the number of channels available to you. You should be able to activate Instant Booking if you control your calendar and ensure that it is up to date. For Property Managers who share a calendar with the owner, you can agree to update from a shared calendar so that both of you have the correct availability.
- Take note of your Listing Quality Score, and seek to bring it above 90/100. You can find the most important tips for improving your Listing Quality Score on the Dashboard page.
We fully understand that for some property managers, these issues have caused Your.Rentals to slip down your “priority list” and you haven’t invested the time to update your availability and rates. I hope that you can see that we are working hard to generate bookings for every property manager to ensure we are at the top of your priority list.
To finish off, I want to thank you for trusting Your.Rentals with your business and encourage you to act upon some of the points in this post. We rely on you to create a successful platform.
If you have any comments, feedback or ideas, please use the comment feature below to which I will personally respond. If you’d like some help getting your account perfected – reach out to our fantastic support team either by email or LiveChat on our website.
CEO – Your.Rentals