Findings from VRMB’s Property Management Software Selector Tool

Author: Matt Landau
Category: Harness Tools
June 21, 2019

​Update: You can now find the Top Suggestions post in which we reveal 12 softwares featured in our results as well as some stand-out softwares here.

​​The ​Backstory

On April 9th, we privately released (email list only) ​a new tool from VRMB Labs™ called The Property Management Software (PMS) Selector Tool. ​

​In short, we believe software is crucial to a successful vacation rental business. 

And in order to help people better navigate the (​​​confusing) software ecosystem, we ​identified the 25 most important features ​of a PMS and then proceeded to do 100+ hours of anonymous demos and ​rate the top 30​ softwares on the market in each feature. We then compiled all of these ​ratings into a matrix​ and utilized a platform called Qualtrics to match the right ​PMS with your priorities. The resulting tool is an industry game-changer: the first free resource to assess and suggest software without any bias or ​hidden agenda. 

Here is the full announcement verbatim from April 9th (the link is not ​published anywhere online).  

​April 9th PMS Selector Tool Announcement

The ​Results Came Pouring In

​Almost ​immediately, people started using the tool.

I remember being in an airport in Spain the day the email went out and literally, from the moment I hit send to the moment my plane took off, the tool had something like ​150 completions. ​​​Over the course of the following month the tool racked up nearly 700 completions and the ​testimonials from users was precisely what we wanted to hear. 

  • ​"Your tool ​suggested ​two softwares we had never heard of before. Off to do some demos!"
  • "​This exercise was hugely validating: ​it matched me with the exact software I settled on after hours of demos myself. Thank you!"
  • "Talk ​about coincidence. Your tool could not have come at a better time: just this morning we made the ​decision to part ways with our long-time PMS and you just made our ​next steps dramatically easier. You rock."

​Terry and I were over the moon about the ​feedback.

All of this validation was great because the primary goal of the project was to help people find the right software for them​. We ​believe every one of the independent owners or managers that used the tool were in a ​more optimal decision-making position (after using the tool) than they were before.

​This Left Us With Interesting Data

Nearly 700 completions ​presented ​us with ​some interesting ​observations about how independent owners and managers were prioritizing ​each of these features​. As a way to further assist​ everyone who participated, we wanted to share some of our high-level takeaways. 

High-Level ​Takeaways About Priorities

​As the completions continue to roll in, we will share how these trends ​accentuate or change. ​And we will also continue to update our matrix and our algorithm to reflect updates in softwares (and new softwares to the market). 

​Which Are The Most Suggested Softwares?

​After all of these completions, we ​think it ​would be helpful to share the softwares ​with the highest frequency of matches. These are the softwares​ -- based on a confluence of our ratings and the ranked priorities of our participants -- that got suggested the most amount of times! 

To Terry and ​me, these softwares represent an important piece of the vacation rental management puzzle. They are the connector -- the ​keystone -- of any great vacation rental business. ​And with the GSV Rollup as reported by Amy Hinote, the time is right!

We'll be revealing these next week to the VRMB email list. ​And we will even be giving the top-performing ​softwares some special recognition...

​Click for a Sneak Peak

About the author 

Matt Landau

Matt Landau is the Founder of the VRMB and the Inner Circle, two online resources dedicated to helping vacation rental owners and managers generate more bookings.

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