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Technology Solutions for Serviced Accommodation Management in the UK

Posted by Jehan Anis on May 8, 2023
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Technology Solutions for Serviced Accommodation Management in the UK

Rent to serviced accommodation (or R2SA) is a model where a landlord or property owner leases their property to a serviced accommodation investor, who then manages the property as a short-term rental for guests. 

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In recent years, technology solutions have become increasingly important for the efficient management of serviced accommodation businesses in the UK. 

 

These tools and platforms can help streamline operations, reduce costs, and enhance the guest experience. For instance, a property management system (PMS) can help operators to automate and streamline their booking management, guest communication, and financial reporting. Similarly, revenue management tools can help operators to optimize their pricing strategy and maximize their revenue. These tools use algorithms and data analysis to predict demand and adjust pricing in real-time, based on factors such as seasonality, occupancy rates, and local events. In this blog, we will examine some of the latest technology solutions for serviced accommodation management in the UK. 

 

 

 

imageProperty Management Systems (PMS)

 

Property management systems (PMS) are software platforms designed to automate and streamline day-to-day operations of serviced accommodation businesses. These systems typically include features such as booking management, guest communication, housekeeping scheduling, and financial reporting. Popular PMS platforms in the UK include Kigo, BookingSync, and Hostaway.

 

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Channel Managers

 

Channel managers are tools that allow serviced accommodation businesses to manage their listings across multiple online booking channels, such as Airbnb, Booking.com, and Expedia. These platforms help to centralize bookings, reduce the risk of overbooking, and improve the efficiency of managing multiple listings. Popular channel managers in the UK include Beds24, MyAllocator, and SiteMinder. 

 

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Smart Locks

 

Smart locks are keyless entry systems that allow guests to access serviced accommodation properties using a digital code or smartphone app. These systems can help to streamline the check-in process, reduce the need for key exchanges, and improve security. Popular smart lock providers in the UK include Yale, August, and Igloo home. 

 

 

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Revenue Management Tools

 

Revenue management tools are software platforms designed to help serviced accommodation businesses optimize their pricing strategy. These tools use algorithms and data analysis to predict demand and adjust pricing in real-time, helping businesses to maximize their revenue. Popular revenue management tools in the UK include Price Labs, Beyond Pricing, and Rentals United. 

 

 

 

 

Guest Communication Tools

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Guest communication tools are platforms designed to automate and streamline communication with guests before, during, and after their stay. These tools can include features such as automated messaging, guest feedback collection, and reservation management. Popular guest communication tools in the UK include Airhosta, Zingle, and Whistle. 

 

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Maintenance and Cleaning Tools

 

Maintenance and cleaning tools are platforms designed to help serviced accommodation businesses manage their property maintenance and cleaning tasks. These tools can include features such as task scheduling, inspection checklists, and work order management. Popular maintenance and cleaning tools in the UK include Breezeway, Properly, and Guesty.

 

 

 

Financial Management Tools

 

Financial management tools are platforms designed to help serviced accommodation businesses manage their finances, including revenue tracking, expense management, and tax reporting. These tools can help to streamline financial processes and improve the accuracy of financial reporting. Popular financial management tools in the UK include QuickBooks, Xero, and Zoho Books. 

 

Conclusion

 

In conclusion, technology solutions are essential for the efficient management of serviced accommodation businesses in the UK. Property management systems, channel managers, smart locks, revenue management tools, guest communication tools, maintenance and cleaning tools, and financial management tools are just some of the technology solutions available. Serviced accommodation businesses should evaluate their needs and consider the features and benefits of each solution when selecting technology tools to improve their operations.

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ABOUT US

Established in 2019, Star Sterling is a family-run business based in the UK. As a cutting-edge investment advisory firm, we aim to deliver top-of-the-line investment services to all our valued clients. Leveraging a dynamic combination of finance and real estate expertise, we specialize in B2SA, R2SA, and BTL property investments.
Our professionals work tirelessly to identify the best investment solutions for estate agents, landlords, and investors and cultivate long-term partnerships for future success. We partner with businesses to find suitable properties to provide premium accommodation on a short-term basis to business travelers and contractors. By creating customized strategies for our clients, our services extend beyond the traditional confines of real estate

Our Typical Investors are

✓ People with a minimum of £7,500 to invest into Rent To Serviced Accommodation and £50,000 into Below Market Value property deals
✓ Looking to build high cash-flowing Rent To Serviced Accommodation portfolio (either passively or self-managed)
✓ Looking to buy Below Market Value residential properties with 8% to 10% annual return on capital
✓ Looking to achieve financial freedom through property investment in the UK
✓ Looking for safe and secure investment opportunities with low risk
✓ Looking to build a legacy for their family’s future

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