To put it in simple terms, owner management is the separation and organization of revenue streams, reports, listings, of property-owning clients. Surprisingly, it’s an often neglected aspect of vacation rental management software platforms. But it’s absolutely imperative for VRMs intent on renting properties belonging to multiple clients.
If you’re currently self-managing your own property (or properties) and have no designs on taking on clients, owner management may not be at the top of your priority list. Nonetheless, it’s important to know about – most VRMs start out by managing their own properties before expanding services.
So let’s take a few minutes and review the benefits of having a proper owner management strategy in place!
What is Owner Management?
Most channel management software options are just that – strictly channel management. Unfortunately, when you want to run a business in this industry, the “management” part takes on a much greater meaning. There’s a few considerations that need to be taken in order to properly manage VRM company clients. Most of them revolve around creating individual operations:
- Separate revenue streams
- Separate payments & payment processing options
- Separate, customized statements
- Separate listing groups
- Separate, customized performance reporting
- Custom invoice generation
These are the main features you’d want from full-service vacation rental management software. Up until recently, these features were very difficult to find. The Owner Center incorporates all of these abilities, along with numerous other features. Combined with our other sophisticated features and add-on tools, it’s the most powerful VRM client management system available – by far.
What The Owner Center Does
One of the most important aspects of running a multi-client VRM company is keeping your clients’ revenue streams separated.
There’s a huge benefit to both you and your clients in separating revenue – for you, it’s saving time and effort. Having to sift through individual listing reports and contrast with a single revenue source can be a huge event if you have 10+ listings. And having 10+ listings is pretty easy when you consider that just 3 properties on 3 OTAs can get you there.
On the other hand, your clients are receiving timely payments directly into their bank accounts with all fees & expenses on a statement. With virtually no effort on your part.
Clients appreciate transparency above everything else when it comes to managing assets. With the Owner Center, your clients can have their very own login credentials for your custom portal page.
From there, they’ll be able to track their invoices, statements, and property performance. That’s where the Owner Center’s customized reports come in handy. Each one of your clients can check on their properties’ performance with a personalized login. The reports include a number of useful metrics in easy to read charts.
There’s a number of other features that Tokeet has included to take your business to new levels of professional integrity and convenience. Using the Owner Center along with Tokeet turns your company into a full service, professional management system. It’s a platform built specifically for business owners – your clients will be impressed with how well-equipped you are. Not to mention, you’ll have a branded owner portal, statements, invoices, and reports to maintain your professional image.
The best thing about the Owner Center is the fact that if you’re already a Tokeet user, you already have access! The Owner Center add-on is now a base feature for all of our users. Simply click the Add-Ons icon on the top bar and select Owner Center. You’ll be taken directly from there, and can begin adding your clients and their properties immediately.
Usage is largely self-explanatory if you’re already familiar with Tokeet, but there’s a number of recommended help documents available here.
For anyone who’s not already a Tokeet user, you can read about all of our other features here. You’re encouraged to search out other VRM software options and compare their features and prices to ours. We’re confident you’ll find good reason to use our services!