VRM Intel 2013 Technology Survey Findings Released
Recently, VRM Intel sent the first 2013 Technology Survey to Property Managers asking questions related to the use of current systems and ideas about new technology. 82% of respondents managing U.S. properties, and 18% managing properties outside the U.S.
87% of survey participants currently use a property management system.
When asked about technology used by property managers outside the property management software, email and websites topped the list with over 80 respondents using these systems not included in the PMS.
Lately, integration has been a topic of tech conversations in the vacation rental industry. According to the VRM Intel 2013 Technology Survey, 96% of the respondents said none or some of their systems are fully integrated with each other.
When asked to rate their struggles with vacation rental technology, almost half of the respondents rated integration and multiple data entry points as being their biggest challenge.
Knowing how difficult it is to change property management systems, VRM Intel was curious how many systems vacation rental managers have used in the last 5 year. Only 6% had tried 3 or more software platforms for managing their properties.
With the launch of multiple new technology platforms in the vacation rental industry, respondents were asked about the likelihood they would try new products. In all categories the majority of participants would like to know the technology works and/or has been around for a while before they would try it.
New consumer websites which provide marketing and distribution for vacation rental managers are getting significant funding from the investment community. 61% of respondents use 4 websites or less. and 39% distribute their properties on more than 5 websites.
ABOUT THE SURVEY
94 respondents participated in a 7 question survey, completed November 2013 about their use of technology. 82% of respondents manage U.S. properties, and 18% manage properties outside the U.S.