Park Forest Illinois Vacation Rental Management
Income Estimates And Tips To Run a Successful Short Term Rental in Park Forest, Updated October 2024
Rent Your Vacation Home or Condo in Park Forest, Illinois
When you're thinking about renting out your Park Forest home as a short-term rental, it's important to keep in mind the current trends in the market. There are a number of reasons why this is a popular choice for vacationers - from the convenience of being able to access your property from anywhere in the world, to the increased demand for unique and quirky properties. One of the most popular types of properties for short-term rental is villas. These properties offer a high level of comfort and convenience, as well as plenty of space and amenities. They're also popular among people who want to explore different parts of the world without having to worry about being away from home for too long. Another type of property that's been gaining in popularity is cottages. These properties are perfect for people who want to stay close to the city but still have plenty of space to relax and enjoy nature. They also tend to be popular among couples who want to get a sense of rural life without actually living in a rural area. Whatever type of property you decide to rent out, make sure you're using reliable marketing tools to reach potential guests. This will help you attract the right type of guests - ones who are looking for a relaxing vacation that's close to home.
When partnering with RedAwning for your property management needs, we can make sure your Park Forest rental is set up correctly and ready to generate the most amount of revenue possible per stay.
Current Vacation Rental Trends in Park Forest
During the month of November, Park Forest is projected to generate over $164/night for a 3 bedroom vacation rental, on average! There were 24 vacation active rental properties in Park Forest. 14 are renting the entire place, and 10 are shared rooms. On average, during the month of November 2023, each vacation rental property in Park Forest is booked 83% of the time, and most hosts are projected to generate $1,749 or more during the month of November! See how much you could earn with our free vacation rental income calculator.
tag
$164.00 Per Night*
calendar
83% Occupied*
gauge
$1,749.00 Per Month*
* Based on the median average of all vacation rentals in the Park Forest area.
Get a free estimate for your home or condo.
Get a free estimate for your home or condo.
Vacation Rentals in Park Forest are generating record profits with RedAwning.
Find out how you can exceed your revenue goals with RedAwning's property management resources.
Successful short-term vacation rentals in Park Forest, Illinois
When you're considering renting out your Park Forest home as a short-term rental, it's important to keep in mind the latest trends in Park Forest. Here are some of the most popular positive vacation rental trends in Park Forest when you're looking to take your vacation rental business to the next level: 1. Increasing popularity of Airbnb: Airbnb is one of the most popular short-term vacation rental platforms in Park Forest, Illinois. Not only is Airbnb a great way to make extra income, but it also allows you to connect with unique guests from all over the world. Whether you're looking for a quiet getaway or want to explore some new neighborhoods, Airbnb can help you find the perfect rental property. 2. Increasing popularity of VRBO and HomeAway: VRBO and HomeAway are two other popular short-term vacation rental platforms in Park Forest, Illinois. Both VRBO and HomeAway allow you to find rental properties from a wide range of owners, ranging from individual homeowners to large chains. This means that you can find the perfect rental property for your needs no matter what your budget might be. 3. Increase in vacation rentals by long-term residents: Not only are short-term vacation rentals becoming more popular, but long-term residents are also taking advantage of the opportunity to rent out their Park Forest home as a vacation rental. This is a great way to make extra income while enjoying your home during the off-season. Plus, long-term residents often know their neighborhood better than anyone, so they're perfect candidates for a quiet, relaxing vacation rental. So whether you're looking for a quick weekend getaway or an extended stay in Park Forest, Illinois, consider renting out your Park Forest home as a short-term vacation rental. With the latest trends in mind, you'll be able to take your business to the next level and enjoy some amazing vacations at the same time!
When you're considering renting out your Park Forest home as a short-term rental, there are a few positive trends you should keep in mind. For one, demand for vacation rentals has never been greater. In fact, according to RentalCafé, the number of Airbnb guests in Park Forest has increased by over 150% in the past year. This is likely due to the many attractions and activities available in Park Forest, as well as the convenience of being able to rent your home out quickly and easily. Another trend that's favorable for short-term rental owners is the increasing popularity of VRBOs (Vacation Rentals by Owner). According to RentalCafé, VRBOs now make up over 50% of all rental activity in Park Forest. This is likely due to the many advantages VRBOs offer rental owners - such as the ability to manage and customize their properties, as well as greater exposure to potential tenants. Overall, these are just a few of the positive trends that you should keep in mind when considering whether or not to rent out your Park Forest home as a short-term rental. By doing so, you can ensure that you're taking advantage of a growing market and benefiting from some favorable trends that will benefit your business.
RedAwning takes the guess-work out of Park Forest property management, and we work with you to ensure your Park Forest short-term rental is set up perfectly to attract guests and maximize your rental revenue, from day-one.
See how much your Park Forest vacation rental could earn:
Revenue Projections for Vacation Rentals in Park Forest, Illinois during December, 2023
Based on a 3 bedroom, which is the most common Park Forest vacation rental home size, we've come up with an estimated rental amount you could charge per night and how much demand there is for each day in December. Higher bars below can command higher prices, if your Park Forest vacation rental is available during these days.
$22288%1st
$16488%2nd
$14388%3rd
$13779%4th
$15483%5th
$15483%6th
$15583%7th
$32096%8th
$32096%9th
$26096%10th
$15992%11th
$15483%12th
$15483%13th
$15583%14th
$22575%15th
$22575%16th
$17675%17th
$16875%18th
$16875%19th
$16975%20th
$17275%21st
$21983%22nd
$35092%23rd
$29092%24th
$27092%25th
$18383%26th
$17679%27th
$18383%28th
$22383%29th
$22383%30th
$17079%31st
Average Daily Price & Percent Occupied Next Month In Park Forest
Note: These averages are based on a 3 bedroom home in Park Forest. If you'd like to find out how much revenue your home could make by providing the number of bedrooms and specifics about your vacation rental, please try our free vacation rental calculator and/or speak with one of our vacation rental experts about your vacation home, condo or unique vacation rental experience.
Interested in learning how you can maximize your vacation rental revenue in Park Forest, Illinois?
If you are a speculative home buyer or have another home in Illinois, check out our other Illinois Vacation Rental Management reports in Alton, Aurora, Champaign, Chicago, Evanston, Galena, Oak Park, Pontiac, Rockford, Springfield, Jerusalem, Belleville, Lincoln, North Aurora, Holiday Hills, O'Fallon, Bull Valley, Plainfield, Melrose Park, Benton, Bolingbrook, Savoy, Carlinville, Des Plaines, Peoria, and Swansea, Illinois or view all of our vacation rental market reports
