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Property management can be a headache – Not with Guesty

Complex operational needs that property managers face on a daily basis – from guest communication to task assignment to payment processing – are simplified by full stack solution from Guesty.

We had a conversation with Guesty’s Director of Sales (EMEA), Tomer Rosenblum, to discuss why the company thinks that their new Accounting module will be the answer to the industry’s needs.

On your website homepage, you define Guesty as a” Leading Property Management Platform”. How would you define it? How different is it from a PMS or a channel manager?

Guesty is an end-to-end solution for property management companies and professional hosts to automate and streamline the daily complex operational needs of their short-term rental portfolio. Property management can be a headache – but it doesn’t have to be. With 15+ core features, we’re more than a PMS and channel management is just one of our solutions that users rely on to centralize their reservations and guest communication, while automating manual tasks, handling payment processing, accounting, and more.

Being a leader in the industry also means having the most robust Marketplace of third-party vetted and approved solutions that can aid our customers in better managing their business – from contact-free solutions that limit human
contact to dynamic pricing solutions.

You’ve recently added an Accounting module to your solution. Why did you see the need for it? Generally speaking, how do you determine which product feature or module to build next?

Guesty is proud to have one of the best global customer success teams in the industry, helping our users navigate the ever changing ecosystem of short-term rentals and grow their business while maximizing their revenue. We are always listening to our users’ suggestions of ways to improve our product and better support their business needs. Accounting is one the most time-consuming and stressful aspects of running any business, especially within the property management realm.

Accounting by Guesty is specifically designed for the industry and is fully trust accounting-compatible. Our feature set enables users to automatically create automatic journal entries for every guest payment, from accounts payable to operational expenses, create custom owner statements for individual property owners and have all data easily synced with existing accounting programs.

We’re proud of this feature set; a built-in accounting module is unique to the market and brings a lot of value to our users as a solution to one of their biggest pain points. By utilizing it, Guest users spend less on hiring third-party accounting professionals and minimize manual labor spent on related tasks.

Let’s talk about travel trends. Despite everyone’s hopes, travel restrictions may persist in some parts of the world in autumn 2021. What do your data tell you about how travelers are reacting to this possibility for Q3?

While travel restrictions have continued to fluctuate and change on a constant basis, one thing is clear: travelers are showing an increasing pent up demand for travel and have embraced short-term rentals as the #1 lodging choice over traditional hotels and resorts that oftentimes are accompanied by crowded common areas.

Private rentals meet the unique demands that have emerged from the pandemic, including providing increased safety with lower guest turnover as well as longer-stay amenities like full kitchens, comfortable WFH setups and in some cases, private outdoor spaces.

Our latest data here at Guesty shows that even amid new variants, consumers still intend to travel. While it is still too early to tell whether the Delta variant or other strains will have a significant impact on Christmas travel across the United Kingdom, what we see now are promising numbers in regards to vacation rental bookings.

Reservation volume for the Christmas holiday across the UK is up an astounding 480% compared to 2020, and currently is 2.6% higher than pre-Covid 2019 volume. Christmas will be the most expensive holiday period in the UK this year, with consumers booking at rates 154% higher than 2020 and 44.2% higher than pre-Covid 2019.

Why is Guesty attending this year’s Vacation Rental World Summit in Annecy, France?

We are excited to attend this year’s Vacation Rental World Summit, one of the industry’s premier summits, to chat with users and prospects on the ground about their needs as they navigate this unique period. Each region differs, which is why we pride ourselves on our local, on-the-ground teams and platform’s availability in 15+ languages.

We can’t wait to showcase what our solutions can do for property management companies’ businesses, while highlighting our new capabilities – from accounting to advanced analytics.

Meet the Guesty team at the Vacation Rental World Summit in Annecy, France on September 16-17, 2021. If you haven’t already bought your tickets, you can purchase them for half off here.



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Dear Short-Term Rental Industry Member, Join Our Scalers Network

Our Mission

We bring together short-term rental industry members to create valuable business and personal relationships. With the support of vetted peers, you can deliver on your next individual project goals faster, work in private groups to share doubts and successes, and become a new voice that shapes the conversation about our industry.

Whether you are a property manager, an owner, an industry vendor, a listing site operator, an investor, or a consultant, you can become a member of our Rental Scale-Up family.  As property managers and industry vendors may not have the same needs, some of our activities work by affinity groups. For instance, we have one version of the mastermind group sessions reserved for property managers and owners, and another one for vendors and listing sites. This way, you get feedback from peers who understand your pains and can get you faster to getting results.

1. Action, Transformation & Results

  • Mastermind Group for Property Managers & Owners: A mastermind group is a group of peers who meet to give each other advice and support. Facilitated by Rental Scale-Up. One session every 2 weeks with your group for a least 3 months.
  • Ask a Property Manager: Hosts, owners and property managers benefit from the experience of a successful property manager. (1 per month)
  • Groupwork: Report of the month co-creationA group of Scalers volunteer to write a report on the topic of the month. The result is published on RentalScaleUp.com, with full credits to each participants. (1 per month)
  • Mastermind Group for Industry Vendors & Listing Site Operators: A mastermind group is a group of peers who meet to give each other advice and support. Facilitated by Rental Scale-Up. One session every 2 weeks with your group for a least 3 months.
  • Ask an Expert Anything (for vendors and listing sites): An outside expert (e.g. a copywriter) shares their experience on a topic in an Ask Me Anything (1 per month)

2. News & Live Discussions

  • Investment & Deals  Discussion: Thibault and an M&A specialist/VC go over recent deals, M&A, investment rounds. Live, monthly.
  • Curated news: Save time. We read the news for you, curate the articles, and add our exclusive comments (weekly, in the Network Newsletter)
  • US Trends & Data Discussion: We analyze AirDNA’s latest report on US trends and zoom in on key markets (e.g. urban vs vacation rental markets).  Network members share what they see in the markets. Live, monthly.
  • Monthly Live online conference: Every month, our Network deep dives into a topic that is crucial to the short-term rental industry. 3 experts share their insights, best practices and answer your questions live.
  • European Trends & Data Discussion: We analyze AirDNA’s latest report on European trends and zoom in on key markets (e.g. UK, France, Italy, Spain).  Network members share what they see in the markets. Live, monthly.
  • Weekly Teardown with Thibault: Rental Scale-Up founder tears down one business news, every week, live.  Networker members share their views. No filter.

3. Facilitated Networking

  • Networking Booster: Meet new business partners and improve your networking game at an online event. Our team facilitates the event to make it easy for you to connect with your peers. (monthly)
  • Business Profile: Each new Scaler gets their profile featured in a dedicated article on RentalScaleUp.com. Get more visibility and authority.
  • In-Person Meetups: We meet in real life, either during a large vacation rental conference or in a city of our choice (quarterly)
  • Job Offers: Network members can not only see job offers but also post theirs. If desired, job offers can be extended to all Rental Scale-Up readers (free and paid).

4. Deals on industry software and products

  • Get Discounts: Enjoy exclusive deals brought to you by fellow Network members. Only in our Deals section. Monthly.
  • Offer Deals and Discounts: Network members may offer exclusive deals to fellow members, from discounts on stays at their properties to lifetime deals on vacation rental software. Only in our Deals section. Monthly.

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Scalers comes in 3 levels:

  • Scalers Insights, the limited, content-only version of the network. Great those who just want to get the insights but have less time for business transformation.
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