In recent years, the popularity of short-term vacation rentals has skyrocketed. Platforms like Airbnb and VRBO have become a great opportunity for investors and have helped change the travel industry as a whole. With the gradual changes and a strong real estate market, now might be the best time in recent years to flip that property in Toccoa, GA you’ve been holding onto and get it listed on the vacation rental, and here’s why exactly we think that.
Increased Travel Demand and Changing Travel Preferences
With the relaxation of travel restrictions following the pandemic and the desire for people to explore and experience new destinations, there is an increased demand for vacation rentals. Travelers are seeking unique and authentic accommodations that provide a more personalized experience. By listing your property on Airbnb or VRBO, you can tap into this demand and attract potential guests.
In regard to the demand for travel opportunities, travelers now prefer vacation rentals over traditional hotels for various reasons. Vacation rentals offer more space, privacy, and amenities like a fully equipped kitchen, which allows guests to have a more comfortable and home-like experience during their stay. Airbnb and VRBO properties cater to these preferences, making them highly sought after by modern travelers.
List While There’s Limited Competition
While there are numerous vacation rental properties available, by entering the market now, you may benefit from reduced competition. Platforms like Airbnb and VRBO aren’t necessarily new, but they’re still a growing option for vacation rentals. By listing your property, you can capitalize on your ROI before the market is oversaturated with listings.
Depending on the time of year and other various reasons, some property owners may choose to suspend or remove their listings, creating an opportunity for those who decide to list their properties. With a lower supply of available accommodations, you have a better chance of attracting bookings and potentially achieving higher occupancy rates.
Flexibility and Control
One final perk, but definitely not the last advantage you’ll find, is that hosting your property on Airbnb or VRBO offers a level of flexibility and control that you may not find with traditional long-term rentals. You have the freedom to set your own rules, choose your availability, and interact directly with guests. This hands-on approach allows you to tailor the experience to your liking and maintain control over your property.
While platforms like Airbnb and VRBO aren’t everybody’s cup of tea, they make for great investment opportunities. Listing your Airbnb or VRBO property can be a lucrative endeavor, and given the current market conditions, it’s likely people continue seeking out more personal vacations via private properties.
With a strong travel demand, changing preferences, limited competition, and the financial advantages of hosting, now could be the right time to enter or re-enter the vacation rental market in Toccoa, GA. By providing a unique and appealing accommodation option, you have the potential to generate income and offer memorable experiences to travelers seeking a more personalized stay.
Thinking of jumping into the vacation rental industry but not sure where to start? Give us a call today.