Owning a vacation rental property, even if it’s just one, can be stressful when it comes to handling business operations. But luckily, platforms like LiveRez are here to save the day.
The concept behind the development of LiveRez is to present a revolutionized solution for expert vacation rental property owners and managers. With the platform’s services and technology, you can take your business online in no time. Plus, you also get to pay little to no risk or upfront cost.
Since LiveRez launched in 2008, the platform has grown in many than one. One of the recent advancement is the platform’s integration with NextPax which allows you to connect with hundreds of vacation rental listing websites.
One interesting thing about the platform is its live booking system that lets you convert inquiries into bookings.
So, let’s review LiveRez to get an understanding of the platform, its features, benefits, and setbacks.
What is LiveRez?
The LiveRez platform is a cloud-hosted vacation rental solution suite. The suite features a full trust accounting system, guest app, owner logins, work order system, review and survey system, customer relationship management (CRM) system, and a central reservation and property management system.
The platform also gives you a personal website for direct booking. This website also comes with a built-in Content Management System (CMS) and an online booking engine that integrates with the LiveRez software.
LiveRez also integrates with a wide range of smart home automation providers, and travel insurance and credit card processing providers. Plus, through LiveRez’s direct integration with Airbnb and its NextPax integration, it offers integrations with a variety of listing sites.
The software also gives you the ability to work with other LiveRez users optionally. This way, you can refer your bookings to each other and list each other’s properties.
Pros of Using LiveRez
Up till this point, one question that might have popped into your head is “Why LiveRez?”
Well, some benefits come with using LiveRez as your vacation rental property management solution.
So, what are the pros of using the LiveRez software?
A One-Stop-Shop For Property Management Tools
The LiveRez platform is one of the leading cloud-hosted vacation rental solutions in the market when it comes to property management tools.
Coupled with LiveRez’s efficient reservation and property management system, the software also offers you AirBnB and QuickBooks integrations, user-friendly portals for rental guests and owners, and responsive booking websites for mobile devices and desktops.
The LiveRez solution practically allows you to carry out all your vacation rental business operations from a simple, centralized platform.
Easy Access From Anywhere
With LiveRez being a cloud-based software, you can easily access the platform from anywhere, at any time using your tablets, smartphones, and desktop. As a result, you get the flexibility needed to stay on top of your vacation rental enterprises while on the go.
Even without having to be in the office to monitor your business, you can always access the system on your mobile devices and get real-time updates. And, you can also make changes and modifications in real-time.
A User-Friendly Interface
The LiveRez platform comes with an interface that is not only intuitive but also user-friendly. With this type of interface, you can quickly familiarize yourself with how the platform works in no time. Hence, you can effectively manage your work orders, bookings, properties, and so on almost immediately after getting started
On top of that, with the system’s QuickBooks integration, managing your profits, expenses, sales, and finances, in general, becomes as simple as ABC!
Effectively Customer Relationship Management
LiveRez also has customer relationship management (CRM) capability integrated into its system. With this functionality, you can effectively manage your leads and also automate your interactions with employees, owners, potential clients, and guests all within a single platform. This way, you don’t have to be switching between systems to stay on top of things.
Cons of Using LiveRez
It can be a bit tricky when searching for a vacation rental solution. A lot of people tend to look for perfection.
Well, sorry to burst your bubble but every software come with their flaws, and so does LiveRez.
What about if we explore the cons of using LiveRez as a vacation rental solution?
A Steep Learning Curve
LiveRez comes with a buttload of capabilities which can be a bit overwhelming. Hence, the system has a steep learning curve which makes it complicated without the proper training and tutorials.
Trouble With Reports
When it comes to reports on your occupancy, you might have an issue with LiveRez.
The system doesn’t allow occupancy reports for more than three months at a time. This limitation can be a problem if you can trying to gather details from a later date.
It Is Completely Cloud-Based
Though there are perks to LiveRez being cloud-based, there are also some setbacks.
The LiveRez system can lag and be very slow, especially if you have a bad internet connection. Also, the platform times out too fast and can take a while to implement changes after you’ve sent them in.
Limited Automation and Customization
LiveRez has a Reservation Grid feature, which is fantastic by the way. However, the system limits customization when it comes to searching for certain types of properties for specific dates.
Also, not everything on the system is automated. You have to manually make changes to accounting when guests alter or extend their reservations at your property.
With a vacation rental business, you might probably be getting guests from different parts of the world with different currencies.
However, you can’t change your prices to the currency of your guests when using LiveRez.
Features of LiveRez
Now we’ve gone through the pros and cons of using LiveRez, what else?
Well, the LiveRez has a set of unique features that make it one of the finest vacation rental solution on the market.
So, let’s go through these features, shall we?
With LiveRez’s reservation system, you can manage reservations, owner agreements, and properties a lot easier and faster.
The platform’s reservation system is intuitive and easy to learn. Plus, you also get the flexibility you need in running your business in numerous different way.
With this system, you can set flexible business rule and keep detailed records on everything from properties and owner agreements to rates and booking. Plus, you can make use of intelligent rules in automating repetitive and mundane processes. This way, you can focus more on delivering an awesome guest experience.
LiveRez also has a Tape Chart that allows your reservationists to answer whatever questions your guests might about your property. Plus, the system also has a customizable advanced search tool for matching guests to their preferred property.
On top of that, LiveRez has a pricing engine that allows you to set up custom rates across your properties without any hassle.
Vacation Rental Websites
LiveRez has websites that look amazing on desktops, laptops, tablets, and even smartphones. The website elements can seamlessly adapt to whatever screen size that your guests might be using. This way, every traveler gets an excellent experience on whatever device they use.
These websites give you access to an online booking engine for getting more direct bookings.
With a website, your guests can easily search for and book your property online. Hence, you can substantially increase your conversion rates and turn inquiries to bookings.
LiveRez websites are also designed to rank higher in search engines. The system lets you update essential SEO details like alt tags, header tags, meta descriptions and titles, and so on. Plus, LiveRez also integrates with Google Search Console andGooglee Analytics to make it easier for you to track your SEO campaigns.
Additionally, LiveRez lets you update contents directly from the platform to your website in real-time. Even better, you can seamlessly integrate all your property information like rates, descriptions, and even photos, with your site.
LiveRez has a real-time integration with Airbnb. This integration allows you to choose from a full sync connection and a limited sync connection depending on your preference. As a result, you can manage your contents on Airbnb and send finished bookings straight to the LiveRez platform.
The platform also has a NextPax integration that lets you connect to hundreds of top listing sites. This way, you can sync content, rates, availability and so on, and get your bookings delivered from listing sites directly into the LiveRez software.
Also, you can use the NextPax interface in adding multipliers to your rates on numerous channels. Plus, you can take advantage of the integration’s search filters and other amenities.
Furthermore, you can work with other LiveRez users on an enormous scale using the LiveStay Network and LiveStay.com. On top of that, you can sync your calendar with another website efficiently using LiveRez’s iCal integration.
LiveTrust Accounting Software
The LiveRez platform has a trust accounting software known as LiveTrust. With this accounting software, you as a property manager can manage your accounting in intuitive and simple processes on any device.
Based on your automation settings, the software processes your funds and then exchanges them between stakeholders, all in real-time. As a result, you can be up-to-date with the status of all your trust accounts.
LiveRez’s CRM system lets you automate, personalize, and customize a large volume of emails that you send to guests or owners. Therefore, you can easily trigger the sending of emails based on flexible rules and system events. And on top of that, you can customize templates to deliver the exact message that you want.
You also get access to a large number of “Mails Merge Macros” that let you personalize your emails. Plus, you can as well use the platform’s visual editor in designing awesome emails. This design can be done through LiveRez’s HTML interface or by using any of the platform’s already-designed templates on their help center.
The CRM system also collates your inquiries from numerous sources and automatically turns them into leads. At that point, you can convert leads to bookings in seconds, send out emails with bookable quotes, assign to other team members, take detailed notes, and set a lead status.
Work Order System
LiveRez also has a LiveManager tool that makes it easy to clean and maintain your properties. With this tool, you can make sure everything gets done right and on time. Plus, you can also coordinate your resources and meet up with multiple deadlines even when you have last-minute issues.
LiveManager allows you to avoid wrong moves that might get your guest or owner upset.
LiveRez also immediately time stamps and tracks all tasks that your team is completing. Hence, you see when your team finishes a job immediately it happens.
Also, you can avoid issues before they even happen, and notify your inspectors in advance if you get a maintenance or cleaning job done way ahead of schedule.
Reports and Analytics
The LiveRez performance dashboard allows you to keep track of your business’ key performance indicators instantly. This way, you can make better decisions based on detailed information.
With this feature, you can instantly view metrics like average daily rates, reservation volume, booking revenue, and so on. This data allows you to compare them with your past performance and note places that need improvements. Plus, you can go down to the granular level by viewing the performance of each property.
Pricing Model of LiveRez
The LiveRez platform works with a partnership model, with pricing that is driven by pay-for-performance. As a result, you’ll need to fill out a form to get a personalized and accurate quote.
Interestingly, LiveRez prices are fully inclusive and give you access to feature such as:
- Ongoing and frequent system improvements
- Free and unlimited training and support
- Unlimited users
- Free and unlimited owners and;
- Unlimited property listings
Before you rush into using LiveRez as your vacation rental solution, there are some technical details you need to take into consideration. With these details, using the software becomes a breeze.
Highlighted below are these technical details.
With LiveRez being web-based and cloud-hosted, the system supports devices like:
- Android and;
LiveRez uses a pricing model that is quotation-based. Hence, you need to contact the company and specify your needs and requirements while requesting a quote.
The LiveRez customer base covers both small and medium-sized businesses.
Getting the required support on the LiveRez is a breeze. The platform has an incredible customer service that provides support via email and phone. Plus, you also get access to a wide variety of useful articles.
To get in touch with the LiveRez team, all you have to do is to fill out the necessary information on their contact page. A member of the team will get in touch with you in no time to have your issues resolved.
To Wrap It Up
LiveRez as a cloud-hosted vacation rental software comes with a lot of features and functionalities needed to operate a rental business. With this software, you now have a vacation rental system that gives you a solution for keeping track of your end-to-end business operations.
One interesting thing about the software is its professional-looking and excellent vacation rental websites that can help you increase your bookings significantly. These websites feature your marketing promotions, services, facilities, units, properties, and so on.
From work orders to reservations, property management, and so; LiveRez allows you to control easily every facet of your operations. Hence, you can efficiently handle your back-end business operations.
The system also seamlessly integrates with QuickBooks. As a result, you can effortlessly keep track of your budgeting, accounting, and expenses. Plus, with the system’s inbuilt CRM, you can efficiently manage your leads and make you guests communications automated.
Don’t get it wrong, LiveRez comes with its flaws. But the software remains a top player in the industry.