We can not only help you find the property of your dreams, but also help you find a property that would be profitable. We have our own vacation rentals and can surely help you avoid the mistakes that short term vacation rentals can lead to. In this space it is critical to understand the market and the laws for the city you plan on investing in. Let us help you avoid these mistakes and have a fun, profitable, and enjoyable experience for your family, friends, and guests.
We have license realtors in the state of Florida that can help you with your short-term vacation rental needs. Give us a call if you’re looking to buy a vacation rental we would love to help.
Below you can find some statistics around the vacation rental market.
Industry Growth and Sustainability
There are 9 million second homes in the U.S. 44% of these are professionally managed, and 25%-35% of them are rented out. (Hostfully)
45% of investment property buyers purchased to generate income through renting the property (as opposed to flipping or only seeking price appreciation). (VRM Intel)
49% of vacation home buyers plan to use their property for vacations or as a family retreat. (VRM Intel)
In the vacation rentals segment, the number of users is expected to amount to 57.0M by 2023. (statista.com)
The average rental income varies greatly by size of home, proximity to the beach, and quality of amenities. 1-bedroom vacation rentals in the 50th percentile earn about $38,490 per year, while a 3-bedroom brings in $98,688. (Evolve Vacation Rental Network)
Rates and Pricing
Average nightly rates in popular vacation destinations range from $186 per night to $978 per night (for a family-sized rental). (Hostfully)
According to a survey, 90% of property managers had noticed an increase in last-minute bookings. Airbnb stated that the percentage of last-minute bookings had doubled. (avantio.com)
According to data from VRM Intel, direct bookings accounted for over 50% of bookings in 2020. (avantio.com)
The pandemic disrupted normal seasonality trends, and surprisingly, average rates actually grew slightly in 2020 by 4%-6%. (avantio.com)
A recent poll by Vrbo Software revealed that more than half of property managers (57%) adjust their rates once per quarter or less frequently each year. (Vrbo)
