What Makes Vacation Rentals a Safe Investment?
Property owners across the country are eager to make positive and profitable investments but knowing where to begin can be a bit daunting. When it comes to stepping into an area of the industry that has long been on the rise, vacation rentals seems to check every box on the list. As travelers move away from traditional hotels, they’re on the hunt for places to stay that speak to home-inspired comforts and style. Vacation rentals provide what the masses are demanding while the opportunity to work alongside a professional property management team takes the process to the next level of safe investments.
Upwards Profitability Trends
The market has shown a clear upwards trend in the vacation home rental market since 2010 and all indicators point to this trend continuing into the future. When considering the longevity of this positive outlook, it’s no wonder that property owners are leaning towards vacation rentals investments in growing numbers. The market research experts at Phocuswright reported that as of 2015, nearly 1 out of every 3 travelers in the U.S. was booking private rental accommodations over traditional hotels. This statistic alone shows an increase of 24% up from 2010.
A Clear Market Demand
A new generation of travelers is consistently making their preference for rentals that come with flexible options clear, and vacation rentals fit the bill. Today more than ever before, travelers are looking to eliminate the standard hotel experience and replace it with a stay that includes everything from options to cook in-home meals and spend time in private yards to getaways that come with 24/7 personalized services and amenities that speak to customized needs. The increased demand for vacation rentals is also closely linked to the fact that properties can be marketed throughout a variety of area neighborhoods. This makes rental options consistently budget-friendly for clients, which is appealing to year-round travelers and keeps owners enjoying a long lineup of renters.
Priority Partnerships with Management Companies
Stepping into the world of vacation rentals is a safe investment because it comes with close and professional partnerships to help owners succeed. Property management companies are well-versed in the ever-changing rental market and what it takes to get a property up to par and visible to quality clients. Those looking to invest in a rental property will find that working with an experienced property management company not only increases overall profitability standards but decreases long-term stress related to marketing, customer service, bookings, home upgrades, and maintenance requirements.
Call Parsons Villas Today
When you’re looking to take a step towards investing in a vacation home rental, be sure you’re working with the best in the business! Contact us today for more information on our many services.