Rent Your Vacation Home or Condo in Memphis, Tennessee

There are a variety of reasons to consider renting out your Memphis home as a short-term rental, such as vacation time or just to earn extra money. Regardless of how you decide to go about it, there are some things to keep in mind when thinking about renting out your Memphis home. One of the most important things is to make sure that your home will be a safe place for potential guests. Start by making sure all the rooms in your home are clean and ready for guests. Also, make sure everything in the house is functioning properly and that there aren't any issues with the plumbing or electrical system. If you're going to be away from your Memphis home for more than two weeks, contact an insurance expert so you're covered if something were to happen while you're gone.

When partnering with RedAwning for your property management needs, we can make sure your Memphis rental is set up correctly and ready to generate the most amount of revenue possible per stay.

Current Vacation Rental Trends in Memphis

During the month of September, Memphis is projected to generate over $160/night for a 2 bedroom vacation rental, on average! There were 1,359 vacation active rental properties in Memphis.  1,216 are renting the entire place, and 143 are shared rooms.  On average, during the month of September 2022, each vacation rental property in Memphis is booked 71% of the time, and most hosts are projected to generate $2,700 or more during the month of September! See how much you could earn with our free vacation rental income calculator.
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$160.00 Per Night*

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71% Occupied*

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$2,700.00 Per Month*

* Based on the median average of all vacation rentals in the Memphis area.
Get a free estimate for your home or condo.

Vacation Rentals in Memphis are generating record profits with RedAwning.
Find out how you can exceed your revenue goals with RedAwning's property management resources.

Successful short-term vacation rentals in Memphis, Tennessee

When looking for a vacation rental in Memphis, there are several things that you should consider. First off, you want to find a place that is within an easy drive of the city center. Memphis is not a big city, so it shouldn’t be too much of a hassle to drive there from wherever you’re staying. Next, you want to look for a location that has good amenities. You don’t want your vacation rental to be far away from restaurants or shops, so make sure that it is located close enough to walk to those things. And lastly, you should look at the reviews that people have left on Airbnb and other rental websites before deciding whether or not to rent out your property. If the reviews are positive, then it is likely that other people will enjoy their stay there as well.

When choosing to rent out your Memphis home as a short-term vacation rental, there are some positive trends that you should consider. For example, Memphis has a large population of college students and recent graduates who are looking for affordable places to live and enjoy their time off. The city is also known for its music scene, which attracts tourists from all over the world looking for a taste of Memphis soul food and blues. With so many people looking to rent out their homes during the summer months, there’s an increased demand for vacation rentals in the area. In addition, the convenience of renting out your Memphis home as a short-term vacation rental makes it easy to take advantage of the city’s vibrant culture without sacrificing much sleep!

RedAwning takes the guess-work out of Memphis property management, and we work with you to ensure your Memphis short-term rental is set up perfectly to attract guests and maximize your rental revenue, from day-one.

See how much your Memphis vacation rental could earn:

Revenue Projections for Vacation Rentals in Memphis, Tennessee during October, 2022

Based on a 2 bedroom, which is the most common Memphis vacation rental home size, we've come up with an estimated rental amount you could charge per night and how much demand there is for each day in October. Higher bars below can command higher prices, if your Memphis vacation rental is available during these days.
 
$20984%1st
 
$16479%2nd
 
$14575%3rd
 
$14374%4th
 
$14374%5th
 
$14977%6th
 
$19079%7th
 
$19479%8th
 
$15576%9th
 
$14674%10th
 
$14474%11th
 
$14575%12th
 
$15377%13th
 
$19879%14th
 
$20779%15th
 
$15375%16th
 
$14572%17th
 
$14473%18th
 
$14874%19th
 
$16075%20th
 
$20277%21st
 
$20477%22nd
 
$15574%23rd
 
$14673%24th
 
$14672%25th
 
$14771%26th
 
$15173%27th
 
$18973%28th
 
$19573%29th
 
$15171%30th
 
$14570%31st
 

Average Daily Price & Percent Occupied Next Month In Memphis

Note: These averages are based on a 2 bedroom home in Memphis. 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.

Interested in learning how you can maximize your vacation rental revenue in Memphis, Tennessee?

If you are a speculative home buyer or have another home in Tennessee, check out our other Tennessee Vacation Rental Management reports in ChattanoogaGatlinburgKnoxvilleNashvilleSeviervilleTownsendAshevillePigeon ForgeCosbyTellico PlainsDandridgeNewportButlerPigeon Fore,  and Jacksboro, Tennessee or view all of our vacation rental market reports

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