Bloomington Minnesota Vacation Rental Report
Success Stories & Vacation Rental Trends, Updated September 2022
It's no secret that short-term vacation rentals are on the rise. Millions of people are choosing Airbnb to stay in unique places around the world, and more and more homeowners are renting out their homes for a few days or weeks at a time. As more people look for ways to earn extra income, it's clear that short-term rental options are becoming increasingly popular. But while these types of rentals are becoming more common, they can also be challenging to navigate. That's why it's important to do your research before you sign up. You'll want to make sure you're complying with all local laws and regulations, and understand what kind of experience you're looking for. If you rent out your home as a short-term rental, you'll want to consider the following:
2019 is going to be a big year for short-term vacation rentals in Bloomington, because the city is hosting the XCEL Minneapolis Marathon and the U.S. Women’s Open Championship. If you are looking for something to do while you are in town, consider renting out one of your homes as a short-term vacation rental. You will be able to make some extra money, and it will give you a chance to meet new people in your neighborhood. There are a few things that you should keep in mind if you decide to rent out your home as a short-term vacation rental. First, make sure that your home is clean and well-maintained before you rent it out. Second, don’t forget to check the city ordinances to see if there are any restrictions on short-term vacation rentals in Bloomington. Finally, make sure that you have all the required paperwork ready before you list your house online or set up an appointment with a potential guest.
A growing trend in the short-term rental market is the rise in Airbnb rentals. Short-term rental homes are typically available for stays of one to four weeks, and owners might offer several room types. Many homeowners rent out their properties as Airbnb hosts to earn extra income or simply because they like meeting new people. Bloomington is a great place to host an Airbnb vacation rental. The city has a thriving arts community that attracts visitors from around the world. In addition, it’s close to major universities and comes with easy access to the Twin Cities. If you want to make money renting out your Bloomington home as an Airbnb vacation rental, start building up your online presence. There are plenty of websites (like Airbnb) that will let you list your property for free, but you’ll need to pay a fee if you want it to show up in search results. Once you have a strong online presence, it’s easier to attract guests through word-of-mouth or paid advertising.
Note: These averages are based on a 2 bedroom home in Minneapolis. 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 Minnesota, check out our other Minnesota Vacation Rental Management reports in Duluth, Minneapolis, and Rochester, Minnesota or view all of our vacation rental market reports