Short-term Rental Rates on the RisePosted on 09/12/13
Buying an income property to use as a short-term rental, typically known as a vacation rental, can be an extremely profitable idea, especially when the economy appears to be on an upswing, as it is now. According to new research, vacation rental rates are on the rise and now may be the perfect time for you to invest in Gulf Coast real estate.
HomeAway Vacation Rentals has released their annual reports regarding this summer’s vacation trends including figures on occupancy and rates from actual owners of beach homes and condos. This report revealed that vacation rental rates rose over 19% this past summer. Also, owners reported that their vacation bookings this summer were as good or better than previous years, indicating that Americans are back to traveling and enjoying the summer seasons. You may be wondering if those same Americans prefer hotels, however. Well, it appears that vacation rentals outpaced hotels 77% to 70%, suggesting travelers are willing to pay for the comfort and amenities of a well-appointed rental instead.
Owners of short-term rental properties, typically, not only cover their cost of the mortgage and associated bills but also turn a profit. If you’d like to learn more about investing in beachfront real estate or begin looking for your next vacation rental property, contact our agents at Southern RE/MAX today.