Newport Kentucky Vacation Rental Management
Income Estimates And Tips To Run a Successful Short Term Rental in Newport, Updated May 2023
Short-term vacation rentals are a great way to make extra money, provide affordable housing when you need it most, or even just to have an affordable place to stay while you travel. However, there are some important things to keep in mind before you rent out your home. There are a few things that can make short-term vacation rentals less appealing than long-term rentals. This includes: Safety concerns: short-term rentals can be more dangerous because they're rented out for shorter periods of time and are often used by strangers. In addition, you may not always be able to tell if a guest has been drinking or is behaving erratically.
When partnering with RedAwning for your property management needs, we can make sure your Newport rental is set up correctly and ready to generate the most amount of revenue possible per stay.
Holiday rentals are becoming a popular short-term rental option for vacationers in Newport. With the warmer weather and spring break season approaching, short-term vacation rentals have become a popular choice for vacationers looking to save money on their trip. Two trends are behind the rise in short-term vacation rentals: First, there is more demand among travelers than supply. As more people use short-term rental sites like VRBO, Airbnb, and HomeAway, supply is limited. This leads to higher prices and fewer options for people who want to rent out their homes during the summer months. Second, the growing popularity of short-term rentals has caused local governments to crack down on unlicensed properties that are acting as vacation rentals. This makes it difficult for people who want to rent out their homes for tourism to find qualified tenants. To avoid these problems, it’s important to get your home licensed and make sure you follow all local regulations.
Over the past year, there have been some positive trends in the short-term vacation rental market in Newport, Kentucky. For example, short-term vacation rentals that are located at a marina or on a beach are usually more popular than those located in the city center. Similarly, short-term rentals that offer a private pool or hot tub are also more popular than those that do not. Finally, short-term rental properties that offer free WiFi access are also more popular than those that do not.
RedAwning takes the guess-work out of Newport property management, and we work with you to ensure your Newport short-term rental is set up perfectly to attract guests and maximize your rental revenue, from day-one.
Note: These averages are based on a 2 bedroom home in Newport. 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.
If you are a speculative home buyer or have another home in Kentucky, check out our other Kentucky Vacation Rental Management reports in Bardstown, Bowling Green, Covington, Lexington, Louisville, Owensboro, Paducah, Shelbyville, Williamstown, Bellevue, Finley, Wilsonville, and Glasgow, Kentucky or view all of our vacation rental market reports