All Forum Posts by: Monika Haebich

Great requests @Jeff Kehl! We'll definitely look to include a lot of that.

We're hoping to have this out at the end of Q1, so I'll keep you all posted.

In the meantime, if you're a member of the VRMA, here's a really great resource that might help answer some of the data questions you have already: http://www.navisvacationrentals.com/geodata-program/

Hi everyone! 

I'm in the process of putting together the first of a quarterly industry report on vacation rental data, and I wanted to know what data you'd like to see. 

Right now the report will cover 

• Industry occupancy rates, top markets, growth of the industry, long v. short term rentals, revenue generated by channels, property management fees, etc.

What other data would you like to see?

 Hi Dan! Lots of really great tips here! One thing to be cautious of with the VRBO and Airbnb calendars is that a lot of owners will block out personal usage, and it can sometimes be difficult to differentiate that from when the home is actually booked. Like others said, Airdna is a really fantastic tool, and I'd recommend reaching out to them. 

If you're looking for some benchmark industry averages, here's a link to a rental income calculator. While you might not know your numbers now, the numbers on the right are industry averages, and hopefully that helps! 

Also as far as standard occupancy rates, I've usually seen them around 50-60%. I'd also be wary of ever estimating 100% occupancy (even in the peak season). It can be difficult to achieve that with a lot of turnover or days scheduled for maintenance.

Finally, if you are looking for a competitively driven property management rate, I work for a free marketplace where over 400 property management companies bid with their lowest commission rates. The contracts are all standardized and extremely homeowner friendly, so it's always an apples-to-apples comparison of what service you'd be getting.

Good luck, Dan! And I hope this helps! :) 

Hi Aaron! 

Welcome to the site! I'm in the industry as well, and I work largely as a free resource for homeowners looking to take a more hands-off approach to self-managing. 

If you ever have any questions about the industry, if you have questions about outright rentals, or if you just want to chat, feel free to reach out! 

See you around! :) 

Hi Brandon! 

Using the help of a property manager sounds like a great idea given your location. When looking for an offer, make sure you have a good understanding of any additional fees that your PM might charge.

You may also want to look into generating an outright rental - where property managers would be buying all of your weeks at a guaranteed rate. I've seen some homeowners actually make more this way. 

Good luck, and enjoy the vacation home!! :) 

Hi Simon! It's actually fairly easy to be completely hands off on an Airbnb rental. A lot of property management companies are doing outright rentals where they essentially buy out your weeks, pay you a guaranteed amount (which I've seen is often more than what homeowners are making by self-managing), and take on the work and risk of managing. 

Hi Kristopher,

Unfortunately there can be a lot of STR regulation even in markets supported by tourism.

A while ago a woman in San Diego was fined $15K for renting out a single room on Airbnb. In NYC, short term rentals are banned completely, which is why Airbnb banished some of their superhosts there. The New York Daily News also reported that more than half of NYC Airbnb listings could be illegal. 

The Short Term Rental Advocacy Center is a great tool to stay updated on STR regulations. It looks like VRMA is also doing a lot to encourage homeowners and managers to unite against unreasonable short term rental regulation.

Hi Mar! Like the others said, it really does depend on your market. That being said, I work with thousands of vacation home owners, and I've seen most of them make the most from VRBO. 

Here's some more information on each of the sites: http://www.vrma.com/files/2015Annual/Materials/Third%20Party%20Channels%20How%20to%20Generate%20Millions%20of%20Dollars.pdf

Another way to get your property across multiple sites would be (as @Patrick Diamond suggested) to hire a channel manager. LeisureLink, Avantio, myBookingPal, Rentals United, and Rental Network Software are all great options!

Wow! Great for you for making the best of the situation! If you need any help with the NOLA property or Airbnb, I'd be happy to answer any questions! :)

Best of luck! 

Hi John,

Welcome! :) I work with hundreds of vacation rental homeowners and property managers in the area, and I'd be happy to see if any of my connections would be a good fit!