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Table of contents

Cap rate calculator
The cap rate calculator is used to understand and compare the potential return on investment from an investment property.
Enter the current market value or purchase price of the property. This is the basis for determining the capitalization rate.
Input the total yearly income generated by the property, including rent, fees, and any other sources of revenue, before expenses.
Input the percentage of annual gross income that represents the property's total operating expenses. This is an alternative way to represent operating expenses if the exact dollar amount is unknown.
Enter the annual dollar amount of all costs associated with managing and maintaining the property, such as utilities, taxes, insurance, and repairs.
Input the estimated percentage of time the property is unoccupied or not generating income. This accounts for potential income loss due to vacancies.
This field displays the calculated yearly income after subtracting operating expenses and adjusting for vacancy rate. This figure is used to determine the capitalization rate and evaluate the property's potential return on investment.
Calculate cap rate
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ResourcesseparatorProperty Management

Best Property Management Software for Vacation Rentals (2026)

Top 5 property management software platforms compared: features, pricing, and sign-up guides. Find the right tool to automate your rental operations.

Key takeaways

Best Property Management Software for Vacation Rentals (2026)

The right property management software can transform how you run your rentals — automating guest messaging, syncing calendars across platforms, managing pricing, and reducing hours spent on manual tasks each week.

Not sure whether to self-manage with software or hire professional management? Talk to an Awning advisor →

What to Look for in Vacation Rental Software  

  • Channel management — syncing Airbnb, VRBO, Booking.com
  • Automated messaging — inquiry responses, check-in instructions, review requests
  • Dynamic pricing integration — PriceLabs, Wheelhouse, Beyond
  • Owner reporting — statements, occupancy dashboards
  • Maintenance and task management — cleaning coordination, work orders

The 5 Best Platforms in 2026  

1. Guesty — Best for Mid-to-Large Operators (10+ properties)

Guesty is one of the most comprehensive PMS platforms available. Channel management across 100+ OTAs, automated guest communication, task management, owner statements, and a robust API. Powerful but has a learning curve. ~$30–$40+ per property per month. Sign up at guesty.com

2. Hospitable — Best for Independent Hosts (1–20 properties)

Hospitable (formerly Smartbnb) is the gold standard for automated guest messaging. AI-powered messaging handles inquiries, confirmations, check-in instructions, and review requests. Covers Airbnb, VRBO, and Booking.com. Starts at ~$40/month for one property. Sign up at hospitable.com

3. Lodgify — Best for Direct Booking Strategy

Lodgify combines PMS features with a built-in website builder — letting you create a direct booking site that reduces OTA fee dependency. Channel management, automated messaging, and payment processing included. Starts at ~$17/month. Sign up at lodgify.com

4. Buildium — Best for Long-Term & Mixed Portfolios

Built for residential property managers handling a mix of long-term rentals, HOAs, and some STR. Excels at accounting, tenant management, and lease tracking. Starts at ~$50/month. Sign up at buildium.com

5. AppFolio — Best for Large Residential Portfolios (50+ units)

Enterprise-grade platform for professional managers. Strong on accounting, owner portals, and maintenance tracking. Per-unit pricing with minimum commitments. Sign up at appfolio.com

Platform Comparison at a Glance

Platform Best For Starting Price Channel Mgmt
Guesty 10+ properties (Scaling) ~$30–$40/property/mo 100+ OTAs
Hospitable 1–20 properties (Automation) ~$40/mo Airbnb, VRBO, Booking
Lodgify Direct booking focus ~$17/mo Yes (Strong)
Buildium LTR / mixed portfolios ~$50/mo Limited
AppFolio 50+ unit managers Per-unit pricing Limited

If you're evaluating whether to self-manage with software or hire professional management, Awning works with property owners across all portfolio sizes. Talk to an Awning advisor →

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