Traverse City Michigan Vacation Rental Report
Success Stories & Vacation Rental Trends, Updated October 2022
Despite the fact that short-term rental (STR) options have been available in Traverse City for decades, they really took off in recent years. This is largely thanks to the rise of technology and the sharing economy. Thanks to platforms like Airbnb and VRBO, STRs have become a viable option for vacationers looking to rent out a home while they are away. One of the biggest benefits of renting out your Traverse City home as a STR is that it can help you make extra money. If you own your home and make a full property management fee when you list it on Airbnb, for example, you can net about $4,000 per year. Another benefit of STRs is that they are good for the environment. When you rent out your Traverse City home as a STR, you aren’t contributing to the cost of maintaining your home. And when visitors stay in your house, they don’t have to use up any resources like electricity or gas. Finally, STRs can be a good way to meet new people if you decide to rent out your Traverse City home while you are away. Of course, there are some downsides to renting out your Traverse City home as a STR. First, it takes work to set up and maintain an account on platforms like VRBO and Airbnb. Second, STRs can be disruptive if guests
There are many benefits to renting a short-term vacation property in Traverse City, Michigan. First and foremost, it affords you the opportunity to earn some extra income on the side. Second, you have the flexibility to choose when and where you want to live. Finally, short-term vacation rentals provide a more authentic feel than standard hotel rooms. There are a few things to keep in mind when renting out your home as a vacation rental in Traverse City, Michigan. First off, make sure your home is up to code. If not, it could result in fines or even the loss of your license. Next, make sure your property is well-maintained. If it isn't, guests may be put off by unclean surroundings and will likely leave early or cancel altogether. Finally, if you have pets, make sure they're well-behaved around guests so that everyone can enjoy their time together.
Vacation rental trends in Traverse City, Michigan are seeing more and more home owners renting out their homes as vacation rentals. Short-term vacation rental trend is becoming increasingly popular due to the ease of renting a home for short period of time. The need for short term vacation rentals is also growing with the increase of people looking for ways to cut costs while on vacation. There are a number of positive benefits that come from short term vacation rentals, including: reduced expenses and time spent searching for accommodations, increased revenue through additional nightly rates, and increased exposure for your home. There are a number of factors to consider when deciding whether or not you should rent out your Traverse City home to guests on a short-term basis. First and foremost is whether or not you’re comfortable with the idea of strangers staying at your house. If you’re not comfortable with the idea then this may not be the best option for you and it might be best to look into other options. If you decide to rent out one of your homes then there are certain steps that you should take in order to make sure that everything goes smoothly. First and foremost is making sure that the home is clean and well maintained. You should also put some thought into what kind of renter you want, whether it be someone who enjoys staying at luxury resorts or someone more casual who is looking to stay somewhere more affordable
Note: These averages are based on a 2 bedroom home in Traverse City. 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 Michigan, check out our other Michigan Vacation Rental Management reports in Ann Arbor, Bay City, Detroit, Frankenmuth, Grand Haven, Grand Rapids, Holland, Kalamazoo, Lansing, Sault Ste. Marie, Addison, Saugatuck, Frankfort, Douglas, South Haven, St. Joseph, Carp Lake, and Copper Harbor, Michigan or view all of our vacation rental market reports