Southwest Harbor Maine Vacation Rental Managers
Income Estimates And Tips To Run a Successful Short Term Rental in Southwest Harbor, Updated September 2023
With a 1.4 percent vacancy rate in Southwest Harbor, you’re likely to get more people inquiring about your property than you would if you owned it yourself. This is especially true during the summer months when vacation rentals are in high demand. More people visiting your house means that more people will be learning about your home and its amenities, which can have a positive impact on your rental rates. If you decide to rent out your home as a short-term rental, make sure that you understand the tax implications and that you only list your property on sites that meet local regulations. All in all, short-term vacation rentals can be a profitable way to earn extra income, but it’s important to keep an open mind and consider all the factors before making a decision.
When partnering with RedAwning for your property management needs, we can make sure your Southwest Harbor rental is set up correctly and ready to generate the most amount of revenue possible per stay.
On average, people who rent out their vacation home in Southwest Harbor, Maine tend to stay an average of seven days. The vast majority of these guests rent a single-family home, with only 6% renting an apartment or condo. Taking into consideration the fact that short-term vacation rentals can help you make extra money when you’re not using your house for regular living, it’s clear that this investment property is worth exploring. While the concept of renting out your house may seem daunting at first, it doesn’t have to be. There are plenty of resources available online to help you understand the process and to find practical tips for managing a short-term rental property.
As one of the top vacation rental destinations in Southwest Harbor, Maine, there is no shortage of options for you to choose from when looking for a place to rent. From vacation homes to apartments, there are plenty of options for you to choose from when looking for your next short-term rental property. One of the biggest trends that has emerged in Southwest Harbor, Maine over the last few years is the increased demand for Airbnb units. With an ever growing number of people choosing to rent out their homes on Airbnb instead of simply letting them sit vacant during the off-season, this trend shows no sign of slowing down. This means that there is sure to be plenty of competition among short-term rental property owners in Southwest Harbor, Maine when it comes time to choose a property to rent out. However, this competition also means that you have a much better chance of finding an available property that is in high demand and that will likely bring in a lot more money than if you simply let your home sit vacant all year round.
RedAwning takes the guess-work out of Southwest Harbor property management, and we work with you to ensure your Southwest Harbor 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 3 bedroom home in Southwest Harbor. 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 Maine, check out our other Maine Vacation Rental Management reports in Bar Harbor, Portland, Boothbay, Kennebunkport, Sullivan, Bethel, Bristol, Alfred, Biddeford, Washington, and Oxford, Maine or view all of our vacation rental market reports