Milwaukee Wisconsin Vacation Rental Management
Income Estimates And Tips To Run a Successful Short Term Rental in Milwaukee, Updated September 2023
Positive vacation rental trends in Milwaukee, Wisconsin when you considering renting out your Milwaukee home as a short-term rental Milwaukee has been on the rise when it comes to short-term rentals. In 2018, there were over 15,000 active Airbnb listings in the city. The rental market is growing rapidly and short-term rental options are outpacing hotel rooms by 50%. This means that there are some great opportunities for renters to earn extra money on the side. It can also help reduce the impact of a housing crisis by filling vacant units with people who need somewhere to stay while they can find long-term housing or while they wait for their current living situation to stabilize.
When partnering with RedAwning for your property management needs, we can make sure your Milwaukee rental is set up correctly and ready to generate the most amount of revenue possible per stay.
Many people are beginning to see the benefits of renting out their homes to travelers and vacationing families. Vacation rental trends show that these types of rentals represent a growing, but still small, industry. In fact, while the number of vacation rental sites is increasing each year, the number of available homes for rent remains relatively low. As a result, many people are eager to capitalize on this opportunity by renting out their Milwaukee homes as a short-term vacation rental. This may seem like an attractive option at first glance, but there are a few things you should keep in mind before making the decision to rent out your home. First of all, as with any type of rental property, there are some things you need to be aware of before you start accepting guests. For example, you should make sure your home is properly equipped with everything you need to host guests (such as beds and linens, bathroom and kitchen supplies, etc.). And it’s important to keep in mind that short-term rentals will likely attract more transient groups than long-term rentals. So if you’re hoping to make money by renting out your Milwaukee home as a short-term vacation rental, it’s best to prepare yourself for this possibility early on in the process.
Milwaukee, Wisconsin is home to an eclectic mix of culture and scenery, including the lakefront, museums and parks. There's a lot to do in Milwaukee, from visiting the zoo and museum to dining at one of the many restaurants or bars. To add to this list of activities, it's also possible to rent out your Milwaukee home for short-term rentals. One of the most common uses for a vacation rental in Milwaukee is to accommodate larger groups of people. This can be used for bachelor parties or family reunions. It can also be used by individuals who are looking for a quiet place to stay while they are working in the area. A vacation rental in Milwaukee can be rented out as an entire house, or as a single room.
RedAwning takes the guess-work out of Milwaukee property management, and we work with you to ensure your Milwaukee short-term rental is set up perfectly to attract guests and maximize your rental revenue, from day-one.
Note: These averages are based on a 2 bedroom home in Milwaukee. 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 Wisconsin, check out our other Wisconsin Vacation Rental Management reports in Green Bay, Kohler, Madison, Sturgeon Bay, Kenosha, Racine, Cable, Birchwood, Hayward, Fort Atkinson, Mountain, Arkdale, Clam Lake, Rice Lake, Wauwatosa, Winter, Oshkosh, Shawano, Ashwaubenon, Wausaukee, Bellevue, Allouez, Cato, Lake Geneva, Brown Deer, Monico, Pearson, Muscoda, Richland Center, Osceola, Merrimac, Howard, and Sarona, Wisconsin or view all of our vacation rental market reports