RentalWise vs. Hostaway: Why Our Customers Choose RentalWise

Last updated: October 2024

In the thriving vacation rental market where competition is intense, the right software solution can be the difference between leading the pack and trailing behind. Both RentalWise and Hostaway offer a comprehensive toolkit designed to streamline the management of your vacation rental properties. From managing reservations and automating guest communication to simplifying distribution across multiple booking channels, both platforms pledge to transform the way you operate your business.

But how do RentalWise and Hostaway compare? Whether you’re a seasoned expert or a newcomer to the vacation rental industry, our detailed Hostaway vs. RentalWise comparison will arm you with the necessary knowledge to make a wise decision.

Note: Having access to accurate and current information is vital when considering a significant decision like property management software. To assist you in your search, we verify and update the information on this page monthly. You can see when this information was last updated at the top of the page.

Who is it for?

RentalWise

Whether you own a single vacation property or manage a portfolio of 30+ rentals, RentalWise is designed to accommodate all types of vacation rental businesses. With its intuitive and user-friendly features, RentalWise enables hosts to manage their operations effortlessly, all from one handy app.

Hostaway

Hostaway is more suited for experienced property managers with 10 properties or more. They do not cater to customers who only manage one property. It’s a more expensive and complex software solution than others on the market, so it’s not for those who prefer a more lightweight software or a hands-off, do-it-yourself platform.

How much does it cost?

RentalWise

RentalWise offers three economical pricing plans, with the lowest one starting at a budget-friendly $16 per month. This includes all the essential features needed to run your business effectively and efficiently, such as a channel manager, a bookable website, a reservation and payment system, and a property management system (PMS).

RentalWise’s Professional plan is the most popular choice, providing access to more advanced features and starting at a modest $40 per month.

The Ultimate plan is tailored for businesses requiring even more advanced features, such as reporting, cleaning, and task management tools. This plan starts at just $59 per month.

RentalWise’s subscription plans can be charged in U.S. Dollars (USD), Euros (EUR), or British Pounds (GBP).

Hostaway

Hostaway doesn’t provide much transparency regarding its pricing. Each customer’s plan is dependent on their specific needs. However, the average subscription starts at $50 per property per month, making it one of the most expensive on the market.

RentalWise vs. Hostaway: What are the main differences?

Website builder

RentalWise

RentalWise’s website builder tool is renowned in the industry for its user-friendly interface and customizable templates. With just a few clicks, users can create their own bookable website under their preferred domain (www.yourwebsite.com) in less than five minutes without requiring any technical expertise.

What sets RentalWise apart is that its websites are optimized for SEO, resulting in an average of 40% of bookings being made directly by customers. Additionally, the website builder enables you to personalize your website, add widgets, and create as many pages as you want—including pages with local attractions or content that will help you rank even higher in search results.

For users who already have a website created using WordPress, Squarespace, Wix, or any other content management system (CMS), RentalWise offers seamless integration. By embedding the RentalWise booking widget, guests can now book properties directly on their website, even if it was previously not equipped for bookings.

Hostaway

Hostaway provides a simple website builder that allows you to accept direct bookings for your listings. Although it is sufficient for most needs, Hostaway’s website builder is more basic and offers fewer templates and customization options than RentalWise.

Furthermore, Hostaway does not provide its users with their preferred domain name. Users wishing to use a specific domain name will need to register and purchase it separately through an external provider.

Onboarding

RentalWise

Every customer receives a free, personalized onboarding experience. An expert from RentalWise carefully evaluates the unique requirements of each user’s business and collaborates with them to set up their account, integrate their listings, and provide comprehensive guidance on utilizing all the available features. Although thorough, it’s a quick and simple process.

Hostaway

Hostaway offers users a personalized but lengthy onboarding process for a fee of $500, as confirmed by their customer support. Currently, it takes between three to five weeks for users to complete the onboarding process, which is comprehensive due to the complexity of the software.

Channel manager

RentalWise

With the channel manager, users have the ability to connect with and synchronize listings across all OTAs. RentalWise has established a two-way API connection with major platforms like Airbnb, Vrbo, Booking.com, and Expedia. This integration enables seamless synchronization of calendars, rates, bookings, and property data in real-time. Moreover, RentalWise offers the flexibility to connect users with any alternative or local channels through iCal integration.

Hostaway

Hostaway offers a two-way API calendar sync for the top booking platforms, meaning that calendars for these will be synced automatically. However, the Hostaway calendar is considered the “master calendar” for Airbnb, so changes in availability and rates must be done via the Hostaway platform.

Listings, on the other hand, cannot be synched automatically via Hostaway. If there are changes to your listing, they need to be manually pushed to your channels. On top of that, listings can only be imported from Airbnb, no other channels. (Although you can export listings from Hostaway to other channels.)

Property management

RentalWise

RentalWise’s property management system comes with a variety of top tools and features that meet the needs of all business sizes. With RentalWise, users can easily manage bookings and communicate with staff and guests across various platforms from one centralized dashboard.

Subscribers to the Ultimate plan (ranging from $73/month for a monthly subscription to $55/month for a two-year subscription) can also take advantage of more advanced features. For example, the task assignment feature allows property managers to assign cleaning and maintenance tasks automatically, while the analytics and reporting tools provide users with invaluable insights into finances, website traffic, and other business performance metrics.

Furthermore, users can integrate their PMS with numerous tools through RentalWise’s marketplace, from dynamic pricing solutions and vacation rental insurance to guest turnover automation and unauthorized party prevention tools.

Hostaway

Hostaway also offers a comprehensive list of tools and features. However, these have been tailored towards larger and more experienced property managers and hosts.

Setting your rental rates

RentalWise

RentalWise’s rental payment system is versatile, accommodating a wide range of currencies and rates, making it convenient for users. It offers various pricing options to suit different needs, including per night, per week, per month, per weekday, per person, and seasonal pricing.

Hostaway

Hostaway does not provide automatic currency exchange, meaning that when you set day rates on multiple channels like Airbnb, Booking.com, Vrbo, etc., the numerical values (e.g., 50, 70, 100, etc.) you input will remain the same across all channels, regardless of their respective currencies.

Therefore, if you set a price of 100 CAD, for example, it will display as 100 CAD on Airbnb and 100£ on Booking.com, without any currency conversion taking place.

Can I try it before I buy?

RentalWise

Property managers have the opportunity to explore RentalWise at no cost with a 7-day trial, which can be extended upon request. They can also gain insights into RentalWise’s functionality by scheduling a personalized demo call with a knowledgeable product expert. During the demo, the expert will provide a comprehensive overview of all the features and recommend the most suitable subscription plan.

For immediate testing without the need to input rental or user data, RentalWise offers access to a preconfigured test demo account.

Hostaway

There is no free trial option for Hostaway. Instead, users may pay for a trial or request a demo call. Hostaway says they don’t offer free trials because it takes between 2-8 hours to set up a user account.

What do customers say about RentalWise?

Trustpilot Reviews
Google Reviews

RentalWise vs. Hostaway: Which should I choose?

In conclusion, both RentalWise and Hostaway offer powerful features to simplify vacation rental management. RentalWise stands out with its user-friendly website builder and focus on direct bookings, while Hostaway’s channel management and automation capabilities are of interest to larger vacation rental businesses.

Your choice ultimately depends on your specific needs, preferences, and business objectives. However, if you’re planning to connect your listings with more platforms than just Airbnb, offer rates in different currencies, or showcase your property on Google Vacation Rentals, Hostaway should not be your first choice, as they currently don’t offer any of these features. RentalWise would serve your needs far more efficiently.

We recommend exploring free trials, demo versions, and customer reviews to make an informed decision that aligns with your goals. Remember to consider value for money, integration options, customer support, and scalability factors to ensure your chosen solution can accommodate your growing vacation rental business.