When the pandemic hit, it caused the world to stop for a couple of years. As the world began to crawl out of it last year, people began to ease back into comfortable travel. So, what is the post-pandemic vacation rental industry like now? As more destinations reopen, rental management services are seeing a surge in vacation rental bookings. Read on to see what is going on in this industry.
1. Longer Stays
According to Hotel Tech Report, vacation rental guests are staying at destinations longer post-pandemic than during the pandemic, with stays less than seven days being 30% of all reservations. This is in contrast to 80% of all stays during the pandemic being one week or less. In other words, many people are doing what they can to make up for the lost time when they were stuck in their houses for two years. Plus, the pandemic helped foster the normalcy of remote and hybrid work. Now people no longer have to condense a vacation to only one week. It’s now typical to combine work and vacation for a longer stay.
2. Demand for Rental Management Services
Rental management services are more important than ever with the rise of people seeking out vacation rentals for various amounts of stays. For owners running an Airbnb or renting out their apartments, having reliable rental management services can help ease the burden of not being on site all the time. These services are becoming more popular.
3. Covid Protection Standards
While mask mandates have lifted across most countries, many rental owners are still making it clear they’re practicing high safety standards. Such standards range from social distancing to contactless check-in and check-out. This seems to be the new standard going forward.
4. Vacation Rentals Could Be a Better Investment
With the current housing crisis going on, not only in the United States but worldwide, the availability of temporary vacation housing has been a solution for many people. By utilizing long-term vacation rentals for housing, many people are stepping into long-term leases and credit checks from regular landlords. As a result, anyone invested in vacation rentals as opposed to regular rentals can stand to make more money and have regular and reliable occupancy rates.
Like the rest of the world, the vacation rental industry has made a strong comeback. As a result, the demand for rental management services has gone up and should continue to do so. Such services make it easier to manage these rentals and keep a thriving business going. Contact Beach Road Company for more information about rental management help.