In fact, the U.S vacation rental industry is estimated to reach over $16 billion by the end of 2021. Despite the pandemic, it is expected to show an annual growth rate of 4.13%, to reach over $20 billion by 2026.
The time to invest in the vacation rental business is now! When you invest in the vacation rental market, you invest in your future. As the effects of the COVID-19 pandemic continue to wane over time, the vacation rental industry provides an excellent opportunity for investment as more travelers get back to vacationing. Now more than ever, people are shifting their perspectives when it comes to careers and income. Investing in the demanding vacation rental market is the perfect way to generate income in a way that is fulfilling and fun! Below we’ve listed a few reasons why the industry is so attractive and how a management company like Kingfisher Vacations can help.
More and more travelers are skipping the hotels and choosing to vacation at short-term rental homes for many reasons. Choosing to holiday at a short-term rental property over a hotel provides the opportunity for better safety precautions and more privacy. In addition, with many people in the U.S still working remotely, this option ensures they will have the peace and quiet they need to get work done. This explains why the demand in the vacation rental business is high.
These days, more and more people search for jobs that are both meaningful and provide a steady work-life balance. They want to feel engaged without the mediocrity of a 9 to 5. Furthermore, the economy has forced them to make ends meet in new ways. The pandemic has also acted as a catalyst, pushing people to make a significant life change. This is true for both older and younger generations. For example, between June 2019 and June 2021, the number of homeowners under age 30 who invested in a vacation rental doubled.
Owning vacation rentals means you will receive extra earnings, and that’s always a wonderful thing. People are ready to have new, exciting experiences; you can strike while the iron is hot and take advantage of this ideal time to invest. You might be surprised by how much you can earn. With 83% of U.S travelers preferring to spend their vacations near water and 74 % of U.S travelers preferring to be on the coast, it is a no-brainer that The Sanibel and Captiva Islands are wonderful places to invest in rental properties. Not only will you see a great return on your investment, but as a bonus, when you’re not renting your property, you will have your own getaway for spending time with family and friends. Who wouldn’t want to sit back and enjoy the sand and sun in their downtime?
It’s never too early to start planning for retirement. By investing in vacation rentals, you can build up your finances and accrue wealth for all your future endeavors. It’s also worth noting that people of all ages can enjoy the benefits of investing in the vacation rental industry. Younger generations are still saddled with student loan debt (2020 graduates, for instance, borrowed a total of about $29,927 on average). Still, they are looking to the vacation rental industry for future success as well. You might be asking: how can they possibly do that? It all goes back to getting creative: many young people find many different ways to afford vacation rentals, from taking out loans to collaborating with their peers.
The best part of investing in the vacation rental business is that you don’t have to go it alone. Instead, you can hire a management company like Kingfisher Vacations, to take the weight of managing your rental property off your shoulders. DIY methods can be stressful and challenging. Whereas a management company is there to assist you at every step to ensure you are getting the best possible return on your investment.
Our many services include:
· Listing Your Property
· Marketing Your Property
· Renting Your Property
· Cleaning, Inspecting and Maintaining Your Property
· Managing and Responding to Reviews
· Communicating with You Regularly