Mississippi Vacation Rental Management & Short Term Property Manager Tips & Trends
Revenue Expectations for Your Short Term Rental Property In 2024
Short-term vacation rental (STRV) is the growing trend of renting vacation properties for short periods of time. STRVs are generally classified into two categories: vacation rental services and vacation rental platforms. Both types of STRVs can be found on online platforms, such as Airbnb and VRBO. In addition, they can also be found in traditional real estate brokerage channels, such as real estate agents’ websites and local newspaper classified ads. There are several reasons why individuals or families are choosing to rent a STRV over a traditional vacation home. First, STRVs are often cheaper than buying or building a vacation home. Second, they allow owners to generate additional income by renting out their STRV during the off-season months. Lastly, they can help reduce overcrowding while on vacation because they tend to be smaller than a traditional vacation home. According to recent data from STRV Report, there were approximately 2 million STRVs in the U.S. as of 2018. This was an increase from 1 million in 2017 and 500,000 in 2016.  The data shows that the number of STRVs increased at a rate of 15% per year between 2013 and 2018.  Additionally, STRV growth rates were significantly higher in coastal regions compared to non-coastal regions (58% versus 41%).  This suggests that the rise of STRVs may
Short-term vacation rental platforms and services have seen explosive growth in recent years. From the first time Airbnb launched in 2008 to today, short-term vacation rental platforms and services have grown from a niche industry to a multi-billion dollar industry. Today, short-term vacation rental platforms like Airbnb, VRBO (Vacation Rental by Owner) and HomeAway take up nearly one million rooms across the US, with average nightly rates ranging from $70 to $300 per night. Across the world, there are over 30 million properties available on Airbnb, making it one of the largest hospitality brands in the world. The demand for short-term vacation rentals is driven by many factors including increased tourism and population growth, growing interest in unique vacation experiences, and an aging population looking for affordable alternatives to hotel accommodations. Despite these tremendous growth opportunities, there are also significant challenges to consider when launching a short-term vacation rental platform or service. These include competition from legacy hotel brands, lack of regulation surrounding use of property tax dollars for non-residential purposes and risk of financial loss due to failure to protect guests’ personal data or address issues with code compliance and insurance requirements.
Vacation rentals have been a growing trend in the tourism industry in the United States for several years now. They are a great way to make extra money while taking a well-deserved vacation, and they can also be a great way to meet new people while traveling. Vacation rental companies like Home Away allow homeowners to rent out their spare rooms or entire homes to travelers looking for accommodations during their trip. This can be a great way to earn some extra money and meet new people while traveling, but there are a few things that you should keep in mind before signing up with any vacation rental company. First of all, make sure that the company is legitimate. There are plenty of fake companies out there that will try to take your money and never send you any guests. Second of time, be sure that you’re getting value for your money. Always check out other places to stay nearby; after all, it’s not worth it if you end up spending more on your stay than you did on the rental. If you follow these tips, you should be able to safely and successfully rent out your home or room on Airbnb or another vacation rental site.