South Carolina Vacation Rental Management & Short Term Property Manager Tips & Trends
Revenue Expectations for Your Short Term Rental Property In 2023
Vacation rentals have been growing in popularity over the last several years, and this trend is expected to continue into the future. Vacation rentals are perfect for short-term rental users who want to experience the unique charm of a unique location without having to commit to a long-term rental agreement. They’re also a great option for commercial properties that want to encourage visitors in need of temporary accommodations. Some of the top vacation rental sites in South Carolina include Airbnb, VRBO, and HomeAway. There are many advantages to using these services when it comes to renting a vacation property. For starters, they offer a wide range of amenities and services that can help make your stay more comfortable. They also provide you with greater flexibility when it comes to choosing which dates you’d like to rent your house out on. As far as growth goes, there’s no sign of it slowing down anytime soon. Vacation rentals are becoming increasingly popular among all types of travelers, from families looking for a nice getaway during spring break to business executives trying to squeeze in some time off before their big presentation.
As the demand for vacation rental spaces grows in cities across the country, so does the need for short-term rental services that provide homeowners with a way to make extra money on their properties during peak tourist times. South Carolina is no exception to this trend, as the state has seen growth in short-term vacation rentals over the past few years. In order to help owners better understand this trend and its impact on their local economy, Crunchbase analyzed data on short-term vacation rental services in South Carolina and found that there were nearly 1,000 active short-term vacation rental companies operating in the state as of June 2018. This small but growing industry is expected to continue growing at a steady clip in the coming years. Total Growth (Q1 2018 - Q1 2019) = 63%
The short-term vacation rental market in South Carolina is expected to grow at a CAGR of 6.30% between 2016 and 2020, according to a report by Genworth. The growth of this market can be attributed to the rise in demand for vacation rentals, which is expected to increase as more tourists visit the state. In addition, the growth of the global tourism industry is also expected to boost the demand for vacation rentals in South Carolina. As more people travel abroad, they are looking for vacation rentals that are close to popular tourist destinations. This will further drive the growth of the short-term vacation rental market in South Carolina.