Vermont Vacation Rental Management & Short Term Property Manager Tips & Trends
Revenue Expectations for Your Short Term Rental Property In 2023
Short-term vacation rental (also known as short-term accommodation or holiday rentals) is any type of privately owned residential property that is rented out for periods of less than a year. This includes vacation property such as houses, condos, apartments, or villas. It does not include vacation rentals that are operating under the legal definition of a bed and breakfast (B&B), hotel, motel, or other lodging establishment (which are typically vacation rental properties that offer both lodging and meals). While short-term vacation rental has become more popular in recent years, it still only represents a small portion of all lodging accommodations in Vermont. In 2017, there were an estimated 28 short-term vacation rental units available for occupancy in Burlington County. The number of short-term vacation rental units in the rest of the state was even smaller – just 8 in Rutland County and 2 in Windham County.
Short-term vacation rental property can be a great way to take care of your loose ends while you are away. But there are a few things you need to know before investing in this type of property. First, make sure you know the laws and regulations in your area. For example, short-term vacation rentals might be prohibited in some areas. And if you plan to rent out multiple properties at once, you’ll need to make sure all of them are up to code. Second, make sure your short-term vacation rental is well-designed and properly maintained. This includes taking care of any maintenance issues before guests arrive and ensuring that all plumbing, electrical, and heating systems are working properly. Third, make sure that the property is affordable for guests. While short-term vacations can be costly, they don’t have to break the bank. By keeping these things in mind, you can start enjoying your time away while staying on budget!
Vacation rentals have been on the rise for years, with more and more people renting their homes out to tourists for short-term stays. But just how big is the market? And is it growing? To find out, we looked at data from Airbnb, HomeAway and VRBO to see how the industry is shaping up. Many factors affect vacation rental growth, not the least of which is availability. Vacation rental demand will vary depending on the time of year, the region and other factors. Growth can also be affected by local regulations, availability of accommodations and tourism infrastructure (e.g., transportation). In Vermont, as in many parts of the country, home-sharing platforms like Airbnb have helped bring vacation rentals to the forefront of the travel industry. In addition to being a popular way for travelers to save money and stay connected while they travel, vacation rentals are becoming increasingly popular among locals as well.