Can Vacation Rentals Be Profitable?

Can you make money off of your home? What about your beach house or the super high-end condo you use when you’re in the city? In one word: yes. Putting your property to work is a reality. 

Your Availability Is Key

How much money you make is directly related to how often you actually need to use the house itself. You’ll earn more revenue, the less you’ll stay at the property. It’s all about making it available for guests. This also means being aware of the times of the year when people could be interested in visiting your town. The holidays are a no-brainer, but you can also consider graduation weekend at a local university, a famous music festival, a big sporting event, and the list goes on. 

However, maybe you just want to share that carefully-designed masterpiece of a home with the rest of the world or break even on how much it costs to maintain it. In those cases, be sure that with minimum availability, you will achieve those goals. 

Location Is King

You’ve heard it before: location, location, location! This determines how much guests can be charged for staying there. In fact, listing a perfectly-located property as a short-term rental could even be more profitable than as a long-term rental. 

To give you a broad idea of what people are looking for, let’s look at some trends. According to AFAR, some of the most demanded destinations are beaches, mountain towns, lakeside getaways, and remote areas within driving distance of major cities.

Vacation Rentals vs. Hotels

A central location is key, but this doesn’t necessarily mean that your secluded country home is a no-go as a vacation rental. During the pandemic, many travelers are inclined to search for remote accommodation options that provide privacy and allow them to stay away from people. So, if you’re asking yourself if vacation rentals can be profitable, right now may be the best time to discover that they are! According to Airdna, vacation rentals bookings in the US are up 20% year on year. 

Plus, in this context, vacation rentals have become actual destinations. If they are surrounded by nature, offer beautiful views, striking decor, and fun amenities (think pools, spas, gyms, home theaters, and much more), travelers are happy to make a trip out of their stay there. They have everything they need without leaving the house and facing crowds. If you want to know more, click here to discover why travelers all over the country are preferring vacation rentals vs. hotels during these uncertain times. So, this shows that consumer trends shift, and they affect the price of a night at your place. 

So, interested in putting that Architectural Digest-worthy property to work? The good news is that you don’t have to lift a finger to make your short term rental work. At Omnifique, we offer our homeowners a set of services that make listing their assets seamless. We provide in-home consultation services, logistics, professional photography, property marketing, guest screening, correspondence, and services, valuable storage, and pre- and post-stay home preparation. When you return, it will feel like nothing happened! The magic remains behind the curtain. Interested in joining our portfolio? Contact us today by clicking here.

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