Is Hospitable or Rentredi a better PMS for MTM or MTR?

Question

We have 9 doors and are needing to start automating our workload. We have been doing MTR for the last 3 years and realize with recent acquisitions we are needing to make a change. What is your wisdom in this?

Allen Duan · Answer

Neither. I have the view that MTRs are more similar to STRs than LTRs. Thus, I would recommend software that is designed for STRs. Hospitable isn't a full PMS, they seem to be building that way though. We use Hostfully for the 22 doors we manage and it's worked fine. There are other PMSs like Guesty and iGMS I've heard good things about. The shortcoming of STR software is they do not include features typical for LTR software, such as lease signing and background checks. But you can easily set that up outside of the PMS. We use signature.io for sending documents to sign and Key check for background checks.

Hope that helps!

Jamie Banks · Answer

For me the threshold was 5 properties where I needed a more thorough solution. After 5 properties I needed a more one-stop shop solution. I also started training VAs and it's easier to delegate one platform vs. having multiple platforms for management.

A good thing about igms is that there's an option to only pay for properties that have had a check in during that month. I like that I can onboard properties before they go live without paying the fee.

Jamie Banks · Answer

I use a mix of RentRedi and iGMS for my property management software. As Allen mentioned, you need a STR PMS for many of the functions needed to manage MTRs. Depending on how the tenant lead came in, I use RentRedi for the background checks, application, and collecting rent. If the booking is through an OTA it goes directly to iGMS. There's not a one stop shop for MTRs yet but I recently switched over to using both systems instead of using 3 or more. Once an applicant becomes a guest, my VA manually enters the booking into iGMS and all tenant communication continues there. iGMS has great automatic messaging and other features that Hospitable doesn't have and better direct booking features.

Jamie Banks · Answer

$18/month/property but I actually had to switch again to Owner Rez as my portfolio has grown. I was still having to use other softwares when using iGMS and I needed a more seamless solution. Owner Rez is very pricey but the more properties you add the cheaper it gets. Right now I'm at 15+ properties and the cost amounts to $21/month/property with all the features I'm using. But the price isn't worth it for 1-2 properties in my opinion. Having just 1 property on Owner Rez with the features I'm using (website + property management capabilities) is $65/month

Bailey Kramer · Answer

I use Hospitable for my STRS and MTRs!  It makes it super easy to automate messages, notify my cleaners, and keep track of the calendar!

When I get a mid-term rental booking from insurance companies or travel nurses, I just create a "direct booking" inside Hospitable and it'll automatically change the door lock codes and send it to the guests too!

Happy to answer any specific questions as well!

Jamie Banks · Answer

There's a lot of them. RentRedi is a long term rental platform and doesn't include any of the functions needed when listing properties on different platforms. There's channel manager, for example, that would link Airbnb, VRBO, and all the different platforms together to prevent double booking and to have one seamless interface. There's also no integration with the apps I use such as Turno to manage cleaners. If you only have 1 MTR and don't mind listing on different platforms and managing the calendar yourself it's doable but the functions aren't feasible for large portfolios of MTRs.

Bonnie Low · Answer

I like that feature, too! Great advice. Thank you!

Allen Duan · Answer

You're welcome. Please feel free to ask any follow up questions. I'm happy to help!

Jessica DiPonziano · Answer

I see people mentioning switching, is it difficult to switch apps as your grow? Does this become difficult with downtime when jumping from one system to another

Bonnie Low · Answer

Thanks, Jamie. That's very helpful!

Is Hospitable or Rentredi a better PMS for MTM or MTR?

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