5 Trends To Watch For In The Vacation Rental Industry 2021
There’s no better time to join the industry than now; let me show you what to expect this year!
1. Self-Check-In’s Are In!
Self-check-in and other in-house entertainment and services have become even more compelling for both property managers and guests because of social distancing. As a result of illegal COVID-19 house parties, security solutions such as noise monitoring have gained increased popularity.
2. Vacation Rentals Will Out-Perform Hotels!
Within a decade or two, vacation rentals will overtake hotels, reshaping the hospitality industry.
3. Travelers Want To Cook!
iPropertyManagement found that 71% of travelers with children preferred being able to cook their own food, which was a major reason why they preferred vacation rentals.
4. Unique Living Options Are The Way To Go!
71% of millennials prefer a nontraditional rental, according to a recent report by Vrbo. A generation of young people in America is becoming increasingly interested in unique living options like teepees, igloos, travel boats, and tiny houses.
5. Longer Stay = Win-Win!
There was an increase of 23% in listings for rentals with terms no longer than six months between March 1 and May 21 according to Zillow. Property owners and tenants benefit from this arrangement. The decline in tourism this year has led to more vacation homeowners looking for tenants who would be willing to live in their properties for longer than a year.
Here’s hoping you can turn these tidbits of information into a profitable venture!
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