The short-term rental market is growing and currently makes up 20% of the entire global rental market. They are convenient for travelers and a suitable option for accommodations that are not hotels or resorts.
When you plan to rent a property for a long weekend or week-long vacation, where do you turn? Most people would answer, Airbnb.
As an owner of a short-term rental property, Airbnb might be your go-to, and with proper Airbnb management, you can drastically increase rental bookings. But, did you know there are many other sites available? Keep reading to learn about the best rental sites here!
Airbnb
Airbnb is the most well-known and fastest-growing short-term rental site. Owners can be sure that their property will get in front of potential renters. They can also trust the site.
Airbnb does not charge a listing fee but will take 3-15 percent of the fee when someone books your property as a commission.
Listing on Airbnb comes with a $1 million insurance policy covering your property in case something happens during a rental period.
Vacasa
Vacasa is a full-service short-term rental property management company that recently acquired TurnKey, a technology-enabled vacation rental site for premium homes.
Full-service means that besides listing your property for short-term rental, Vacasa gets your property ready for the next guest.
Vacasa takes 35% of the nightly booking fee for its services so not ideal if you're trying to maximize profit. If you can afford it, it's a great way to be hands-off the rental process.
Booking.com
Booking.com is one of the biggest global travel booking websites. Listing your property there will give it a lot of exposure and comes with convenience for the renter.
A potential renter can use Booking.com to make reservations for other aspects of the trip like flights and rental cars. An added plus is when a person is using the site to book a flight, your listing can end up in front of them.
This added exposure comes at a cost of 15% of the booking.
Vrbo
This short-term rental site allows clients to list entire homes or apartments; no rooms or spaces that are not completely private.
Vrbo caters more to those who are looking for kid-friendly or family-friendly properties.
Clients can choose between an annual subscription, at $499 per year, or pay-per-booking. The per booking fees are 5% plus a 3% credit card charge.
If you have premium properties that get a lot of action, the annual subscription is a great option. Keep in mind that you have to do $10,000 in bookings to make it worth it.
Beyond Airbnb Management
When looking for rental platforms to manage your short-term rental, Airbnb management first comes to mind. Now you know you have other options.
If you are the owner of short-term apartment rentals or vacation rental homes, check out Property Management Inc. Palmetto to see what we can do for you. We are a husband and wife team with strong communication skills and attention to detail. Contact us today to discuss how we can help you enjoy the rewards of your investment.
