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One question frequently asked by vacation rental managers and home owners interested in implementing a keyless entry smart home is cost…and it should be! A property manager should carefully evaluate not only hardware and software costs associated with a system, but also month to month service costs as well.

While there is a cost associated with integrating any smart home technology, it is also important to consider that a smart home system can help property managers (and owners!) generate revenue as well as reduce operational costs.
UTILITY MONITORING

Did you know that heating, ventilation and air conditioning (commonly referred to as HVAC) can account for over 50% of a home utility bill? Over the course of a year, utilities become quite a cost center for home owners and vacation rental managers, particularly during the summer and winter months. To compound the problem, vacation rental guests (who typically don’t pay a utility bill) won’t shy away from putting the air conditioning or heating on full blast. This can result in a huge cost for managers and home owners, particularly if a guest accidentally leaves utilities on after checkout. Multiple studies indicate that implementing a smart thermostat can lead to an average annual savings of $180.

Implementing smart home technology to manage utilities can lead to huge operational cost savings. Rently Keyless smart home technology offers features such as thermostat control, allowing vacation rental managers to instantly manage heating, air conditioning and ventilation systems remotely from the Rently portal. No longer wonder if a renter left the door open with the air conditioning running in the midst of a summer heat wave. With Rently, simply log on to the Rently portal after a guest checks out, and lower or raise the temperature as needed.
THE HIDDEN COST OF KEYS

Having a key based check-in system for vacation rental properties can also be quite expensive. I often hear from property managers that “A key copy only costs a couple of bucks”. While it’s true that copying a key is relatively inexpensive, there are a lot of hidden costs associated with traditional key check outs.

Key check outs not only require a labor component (someone has to physically issue the key), but have ancillary costs associated with them as well. Unlike traditional key check-out systems, keyless smart home systems use durational codes to grant renter access. This leads to several advantages for Rently Keyless property managers such as the ability to grant renters instant access, issue multiple codes to different parties, and remotely lock and unlock a property. Also, unlike keys, durational codes can’t be copied, lost or stolen. Not only do lost keys create a security concern, but can also lead to expensive lock replacements as well.

Rently Keyless allows managers and home owners to not only eliminate marginal expenses like key copies, but also hidden larger expenses related to key checkouts. Larger expenses tied to key checkouts include after hours staffing for late check-ins, opportunity costs associated with lockouts (how much time does it take for a member of your staff to drive out to a property to simply unlock a door for a renter?), and long term costs associated with security issues that may arise from stolen key copies.
CUSTOMER SATISFACTION

Keyless entry provides a ton of convenience to renters. How? Well with a keyless entry smart home, renters no longer have to worry about coordinating key check outs with vacation rental managers or make that extra drive to a front desk after hours. The instant access provided by a keyless smart home is a convenient way for guests to access a property. More convenient access leads to better reviews from renters, higher rebooking rates, less vacancies, and more revenue generated for vacation rental managers. More revenue leads to happier managers and ultimately, happier home owners!

As you can see, although a smart home keyless entry system does require an initial investment, smart home technology provides a ton of benefits to home owners and property managers as well.

Learn more about Rently Keyless at RentlyKeyless.com

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September 30, 2015
Keyless Entry and Customer Satisfaction
A question often asked by vacation rental managers who want to implement keyless entry is “how will this improve my business?”. More importantly, how will keyless entry improve customer satisfaction?

This is a great question, and I would love to take a few minutes and talk about how keyless entry can not only improve customer satisfaction, but also lead to better customer reviews.

CONVENIENCE AND CHECK IN

Let’s start off with some very interesting facts and figures about the hospitality industry. In a recent paper published by the Cornell School of Hospitality & J.D. Power and Associates, studies have shown that check in time and convenience are critical factors when a traveler decides to book a vacation rental or hotel. In fact, 40% of guests in the United States cited convenience as the highest factor when deciding where to book a reservation.

Interestingly, the same paper researched hotel rebooking rates. When a customer decides whether to rebook at the same hotel, can you guess what played a crucial role? Surprisingly, the check-in process was cited as one of the most critical factors for driving guest satisfaction.

Just how important is the check-in process? For American travelers, A check in time of over 5 minutes led to a sharp decline in customer satisfaction (and a smaller chance that traveler will rebook with the same agency).

RENTLY KEYLESS TO THE RESCUE

So how does Rently Keyless entry improve convenience and check in time for a vacation renter? Why should vacation rental managers (and home owners!) care about keyless entry?

Imagine if you will, a renter accessing a vacation rental using a traditional key checkout method. Now as a vacation rental manager, an important question you should ask yourself is, “How long are my guests driving between the vacation rental front desk and vacation rental property itself?”.

If it is longer than 5 minutes, prepare for a dissatisfied guest.

With Rently Keyless, a manager or home owner can instantly provide a durational access code for a vacation renter, improving access for the vacation rental and leading to higher guest satisfaction. Not only is this a way to improve renter check-in time, but is also a huge convenience for travel weary vacation renters as well.

Faster check-in times and better convenience means higher guest satisfaction. Higher guest satisfaction leads to better reviews, higher occupancy rates, and higher revenue for vacation rental managers and home owners alike.

With Rently Keyless, everyone wins. Vacation renters get easier 24/7 access, managers get rated higher for providing a convenient check-in process, and home owners can enhance property security.