Short-stay vacations are becoming increasingly popular, especially among millennials. While they're convenient and affordable, they offer a lot of flexibility, which makes them perfect for many different kinds of travelers. Customers are looking for more authentic and more personalized experiences, so offering them a short-stay accommodation like a unique and serviced apartment, townhouse, or villa instead of more traditional hospitality could be the perfect solution to make guests feel at home and have high revenue opportunities.
Over the last decade, the exponential growth of online platforms like Airbnb and guest mobile apps have made short-stay vacation rentals and short-term apartments more appreciated by guests, opening new investment and revenue opportunities for those operating in the hospitality sector. There are many advantages associated with short-stay rentals that make them worth considering as your next investment: let’s see together 5 valuable benefits you need to consider.
What is a short-term rental?
A short-term rental is a property that's offered to travelers for a limited period of time, usually less than 30 days (but the rental period can vary from a few days to several months). Short-term rentals are designed to provide guests with a more affordable and flexible alternative to traditional hotels: instead of paying a nightly rate in a hotel, travelers can rent an entire home or apartment for less than the cost of staying at an average hotel. The popularity of short-term rentals has grown significantly in recent years due to their convenience and accessibility.
The best part about short-term vacation rentals is that guests can have access to amenities like kitchens, laundry machines, and swimming pools that they wouldn't have otherwise. These types of properties can vary in terms of size and facilities (such as laundry equipment, satellite television access, free Wi-Fi connection, or interactive technologies), but generally, they have more space than a hotel room and are often located in prime locations - like the beach or exclusive mountain locations!
5 valuable benefits of investing in a short-term rental
As the short-stay trend continues to increase, many homeowners, hospitality companies and investors are now discovering the advantage of owning short-stay apartments. If you have not considered investing in a short-stay property or vacation rental, here are 5 of the most valuable benefits you should know:
- Higher revenue potential: one of the biggest advantages of investing in short-stay apartments is that they can guarantee more revenue. The market for short-term rentals is growing quickly, and revenues go up if you have the ability to rent multiple properties at once. With our guest mobile app you can increase bookings, making your property more visible on the most important vacation rental sites the dynamic pricing software also gives you the freedom to set the rate based on demand and time of year to maximize your rental income.
- More flexibility: by investing in short-stay apartment rentals rather than hotels or long-term apartments, you can have more flexibility and control over your property. This type of rental option gives you the opportunity to decide when you want to rent your property and when you don’t want to. Therefore, you can also decide not to rent at a particular time and keep it free for your personal use or use it as you prefer without creating inconvenience to anyone;
- Easier maintenance: Using a Property Care App can make maintaining your short-term apartment or vacation rental easier. Our property care integration is a dynamic platform that integrates with the vacation rental property management system. You can always keep an eye on your property and perform real-time property care operations. Customized tools allow staff to perform quality cleaning, inspection, and maintenance work in order to best meet guest needs.
- More control over your property: it is easier to manage your property and guarantee your guests' safety since a short-term rental is generally smaller than a hotel. Using advanced technologies such as smart apps or smart locks, you can manage your vacation rental in an easier and quicker way, anytime, anywhere, even if you don’t live nearby. With our access control system you can control access to your property and manage cameras, door locks, smart thermostats, CO² and noise sensors, and other interactive technologies to improve your guests’ experience;
- Tax concessions and deductions: vacation rental owners and companies can be entitled to specific tax breaks or deductible property expenses because the property is rented only for short periods. To take advantage of all the facilities and ensure positive effects on your business, stay informed and check the local authority’s rules and regulations on this.
Short-term rental trends
Short-term rental trends are constantly changing. In the last few years, short-term rentals have become more popular than ever, which means new opportunities for homeowners, renters, and short-term rental operators. To keep up and maintain your business profitable, you need to be aware of new challenges and trends in the accommodation sector. If you're interested in learning more about this, here are some short-term rental trends that have grown in recent years:
- Increased property management automation and more interactive technologies to provide guests with a unique and personalized experience;
- A significant reduction of front desk staff in favor of increasingly automated check-in and check-out management systems and 24/7 virtual reception services.
- More investment in keyless and automated tech and access control systems to manage the property more effectively and increase profit margin.
New technologies have risen significantly over the past year, and operators are responding to guest expectations by increasingly automating their operations, such as keyless access systems, virtual front desk, and other interactive services. The adoption of a fully integrated property management system will, therefore, be an absolute necessity for any hospitality business that wants to remain competitive and offer guests a memorable and enjoyable stay.
If you need more information about JurnyOS or other short-term rental management system solutions, contact us or book a demo with one of our experts. We will help you to find the solution that best suits your needs!
