Idaho Vacation Rental Management & Short Term Property Manager Tips & Trends
Revenue Expectations for Your Short Term Rental Property In 2024
Short-term vacation rental (STRV) is a property that is rented out for less than 30 days. STRVs offer travelers the opportunity to stay at a unique location while they explore a new city or town and to save money by avoiding hotels and hostels. In 2016, there were 2,832 STRVs in Idaho, an increase of 23% from 2015. The number of STRVs has increased exponentially since 2010. In 2010, there were only 144 STRVs in the state. Over the next five years, the number grew quickly to 1,406 in 2013 and then to 2,832 in 2016. The growth rate between 2015 and 2016 was 49%. Idaho had one of the highest growth rates in the nation with a 47% increase between 2015 and 2016.
Short-term vacation rental (STRV) is a type of property that allows individuals to rent out a residential home, apartment or room on a short-term basis. STRVs are typically rented out for fewer than 30 days and can be offered as either whole or fractional ownership. They are also referred to as “hotel alternatives” or “bed and breakfasts” in some cases. With the growing demand for affordable accommodation, STRVs are becoming increasingly popular among tourists seeking affordable vacation rentals in Idaho. There are currently nearly 50,000 STRV listings in the state of Idaho alone. With an occupancy rate of 80%, STRVs have proven to be a viable option for tourists looking for affordable lodging in the state. However, there are several factors that influence the growth of STRV in Idaho including the availability of properties, the quality of accommodations and the overall tourism industry.
Short-term vacation rentals have grown dramatically in recent years. They offer a unique opportunity to vacationers and hosts alike. Vacationers can save money by renting short-term accommodations like vacation homes, apartments and condos. In addition, short-term rentals provide hosts with an additional source of income. These two factors have led to a significant increase in the number of short-term vacation rental properties throughout the U.S. The growth of short-term vacation rentals has resulted in several challenges for both property owners and guests. Property owners must comply with strict regulations that govern the use of their properties as short-term rental properties. This can be time consuming and expensive, so it is important for property owners to plan ahead and be prepared for potential costs. Guests must also be careful when booking short-terms to avoid getting scammed or taken advantage of by dishonest property owners. In addition, there is always the possibility that a property owner will not live up to their end of the rental agreement. For example, they may cancel last minute or fail to notify guests in advance if they are going out of town, etc. To avoid these issues, it is important to do your research and make sure you are renting from someone reputable before committing to a rental property.