Annapolis Maryland Vacation Rental Management
Income Estimates And Tips To Run a Successful Short Term Rental in Annapolis, Updated March 2023
If you’re considering renting out your Annapolis, Maryland house when you’re away, then you have to consider a few key factors. The first is that you should get it inspected before you rent it out so that you know that there isn’t any major structural damage. Also, make sure that the house is well-stocked so that it looks as appealing as possible to potential tenants. If you want to be prepared for the possibility of being away from home while your home is being rented out, then you should buy some supplies like toilet paper and dish soap. And if you want to avoid any potential hiccups during your vacation rental, then make sure that the house has a written lease agreement and that the renters are covered by a renter’s insurance policy.
When partnering with RedAwning for your property management needs, we can make sure your Annapolis rental is set up correctly and ready to generate the most amount of revenue possible per stay.
Positive vacation rental trends in Annapolis, Maryland when you considering renting out your Annapolis home as a short-term rental include: In recent years, Annapolis has seen a shift in what types of short-term rentals are being offered. While there are still the traditional Airbnb and VRBO offerings, there is also an increase in owner-occupied and privately-owned properties that are available to rent. This change is reflective of a growing demand for vacation rentals in Annapolis, and it also means that you have more options to choose from if you want to rent out your Annapolis home. The key is to do your research before choosing a property so that you end up with the right fit for your needs.
Positive vacation rental trends in Annapolis, Maryland when you considering renting out your Annapolis home as a short-term rental include: After a recent economic downturn, many travelers have been staying at hotels at an unprecedented rate. According to Travel Weekly’s “Hotel Industry Insight Report,” hotel occupancy rates hit a record high in August 2016, up 4.2 percent from the same time last year. Meanwhile, the National Bureau of Economic Research found that hotel prices increased 5.9 percent this summer, the biggest increase since 1995. Consequently, demand for short-term rentals has surged as travelers spend more on accommodations and less on hotels.
RedAwning takes the guess-work out of Annapolis property management, and we work with you to ensure your Annapolis 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 Annapolis. 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 Maryland, check out our other Maryland Vacation Rental Management reports in Baltimore, Ocean City, Berlin, Cockeysville, Bel Air, and Huntingtown, Maryland or view all of our vacation rental market reports