I see here positive mention of OwnerRez. I notice that they offer integration with QuickBooks, “Property Management” (defined as “Calculate commission, generate owner statements and record expenses”) as well as provide services like SMS, website.
By way of background we have just one listing, which is in the U.S. on Airbnb and VRBO, $215/night, and administration has been easy, though a little tedious at tax time as my method has been to use a dedicated credit card for the listing plus a spreadsheet for cash expenses.
The downside to my current practice is that I don’t have categorization of the credit card expenses until I create that at tax time, and no real-time view of our economic performance (though I could do that by just categorizing the expenses monthly, which is what I’d need to do with QuickBooks).
OwnerRez cost is not much for one listing: $35/month for the base service, which provides channel management and legal agreements, and $80/month for all the services (about $10/month more for each of the four add-on services listed below).
My questions are:
- What benefits do you see OwnerRez for a Host such as myself? I’m not sure of any benefit to me of the base service except for the legal agreement capability, which I think I could also do on my own with DocuSign for $10/month.
Do you see these add-on benefits worthwhile ?
- Property Management
- Quick Books integration
- SMS messaging
Do Hosts see a benefit to using a tool like QuickBooks? Or keep their numbers more ad hoc like I do? [I would think that once you have more than one property/listing that the benefits of a tool like Quick Books soars because you might want to understand in real time the profitability of each property/listing.]
If I added the website add-on, would the idea be to drive repeat customers to that website so they could avoid Airbnb and VRBO fees? [For those of you with a social media presence I realize that you could drive followers to the website that way, probably not part of my strategy yet.] If I had my own website could I easily mimic what Airbnb/VRNO does with cancellation penalties? That is, offer a signup and TOS, take credit card and charge for cancellations, maybe also for damages? [I’m guessing ‘no.’]
One thing I value from VRBO is its ability to have the guest pay a $79 [typically] premium for $3,000 of insurance in case they damage anything – not sure whether I could get something close to that elsewhere if a booking came to me directly on my website. Do you know? I don’t want to rely on a legal agreement to go after guests for such damage.
I realize I am asking a lot of questions. Please feel free to pick and choose the question you’d like to respond to. And thank you, in advance.