Holiday rentals: In a crowded market, full-service is the future of vacation rental management
Updated: Aug 7, 2020
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In 2019, the consumer market for short-term rentals is predicted to grow to $115 billion. The U.S. alone has more than half a million properties available for short-term rental through online marketplaces like Airbnb and Vrbo.
Travelers have more choices for staying in vacation homes than ever before, which has translated to higher expectations for seamless check-ins, 24/7 support, and hotel-quality cleanliness. With thousands of similar rentals to choose from in popular markets, guests don’t have to settle for lackluster service or spotty communication.
For vacation rental homeowners, this means delivering a five-star experience is essential to staying competitive in a crowded market. Online marketplaces use guest reviews as a key factor in their complex sorting algorithms, meaning that a poor review can negatively impact a property’s ranking — and thus, its financial performance. For reasons like this and many others, vacation rental homeowners are opting to turn their vacation home keys over to a full-service property manager like us.
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