Vacation Rental Trends in 2018
The Vacation Rental Industry is growing fast. Currently at a pace of +8% year over year. Because of the growing market, your vacation rental property is expected to make you a lot more money in 2018 than it ever did in the past. However making money out of your vacation rental is, at the same time, going to require more effort and strategizing than it ever did in the recent years. The competition is increasing and so is the professionalism of hosts and properties. In order to keep your calendar booked, it is important to stand out. Here you’ll find the most important Vacation Rental Trends in 2018.
1. Be different!
Who wants to stay in a regular house when there are so many more interesting options to explore? In 2018 it is all about offering an “Experience”. According to a recent HomeAway report, bookings for Home-ified barns, treehouses and houseboats stood out among a typical getaway abode choices over the past year, with demand up double-digits for each.
Airbnb found a similar trend. Stating that bookings for nature lodges have boomed by over 700%, while bookings for nomadic tent dwellings and recreational vehicles have also increased dramatically. We are also seeing new Vacation Rental platforms entering the market for unique accommodations, with companies such as RareStay.com. By any chance, if you have any kind of unusual or quirky structure in your backyard? Now is the time to put it on the vacation rental market to take advantage of the Vacation Rental Trends in 2018!
2. Accept Pets in your Vacation Rental
Traveling with pets is becoming more and more popular. Pet-Friendly Vacation Rentals are performing very well and should see a further increase in demand in 2018. Fluffy and Fido, pack your bags for California and Florida, home to the top-five pet-friendliest cities in the U.S. for vacation home renters. Scared of allowing pets in your rental? Add additional cleaning fees, rules and conditions for pets in order to make you feel more comfortable.
3. Eco and Sustainable travel is on the rise
Not only will travelers look for more unique experiences when searching for Vacation Rentals. More and more travelers are traveling in a sustainable way. You could think of working with local people around their culture and ways of life or stay in Eco Rentals. More and more travelers believe in doing the right thing will lead to a more enjoyable experience.
Vacation Rental Trends in 2018
4. Expect Guests to Expect More
As the Vacation Rental Industry is growing up. So do the expectations guests have from their experience during the stay. Even though cost savings remain a popular reason for people to choose Vacation Rentals over hotels, other factors such as a private and comfortable stay are extremely important to people trying to decide where to stay during their vacations.
Guests expect as much comfort as they would get in a hotel, more privacy, interesting activities and amenities to keep them amused, an authentic feel of the place and cost effectiveness at the same time. Then add a smooth check-in and check out and friendly and professional service on top. Standing out on these points is essential for receiving great reviews and repeat business.
5. Longer Stays are on the rise
Gone are the days of visiting a place only to see all the famous tourist sights of a place and going back home. Vacations mean a lot more than just ‘seeing’; they are now about experiencing, relaxing and learning about the local culture. To get a richer experience out of their travels, travelers will stay in 2018 at one place for longer than they did in the past. And this holds especially true for people looking for vacation homes. As a vacation rental owner, you can expect longer stays so come up with offers that make it all the more enticing for people to book with you for longer.
6. It’s all about technology
Already offering Smart TVs with Netflix in your Vacation Rental? According to the HomeAway 2018 report, 86% of Millennials are willing to pay more to stay in a vacation rental property that’s outfitted with smart home technology. In order to stand out technology wise in 2018, you should think of having Smart locks, Smart Heating and AC solutions.
Do you have any questions about Vacation Rental Trends in 2018, then please feel free to reach out!