The vacation home rental business is booming. Studies expect the industry will grow from a current value of $100 billion to $168 billion by 2019. Overall, the year-to-year growth between 2011 and 2016 averaged 3.6 percent for the vacation home rental market.
With figures like these, there are always trends within the trends and here’s a look at the top-10 trends in the vacation home rental market for 2018.
- As interest in vacation home rentals continues to rise, so will the number of available homes in the marketplace. The market will also continue to be hot for those looking for exclusive, luxurious homes.
- However, it won’t just be the house itself that attracts clients. Clients will also expect to find amenities and services associated with the property such as personal trainers, water and land adventures, fishing charters, wedding planning, and more.
- Any property located near outdoor adventures and fantastic views will automatically garner more interest. While luxurious homes are luxurious, no one wants to be cooped up all day. Clients will automatically gravitate to properties that will offer the possibility of making more memories with outdoor adventures.
- Properties marketed by companies that offer streamlined communication will benefit from an increase in bookings. That’s where The Maruca Group comes in. We are a full service rental company that offers turnkey service for clients.
- Longer stays will become the norm. Vacations used to consist of one or two weeks at the most. However, recent trends show rentals are being booked for a month or more.
- Peak seasons are becoming a thing of the past. It used to be that vacations rental bookings spiked during specific times of the year depending on where the home is located. However, thanks to a rise in year-round events in the hottest destinations around the globe, rentals are now staying much steadier throughout the year.
- More and more people are choosing vacation home rentals over hotels. Hotels used to offer services that home rentals couldn’t touch, but that has changed in recent years. With more room to move around and similar services, there is really no choice between the two.
- One of the biggest advantages in vacation home rentals over hotels is the fact that there is typically a well-equipped kitchen. While eating in might not be necessary to save money, it is nice to have a place to cook without having to go out.
- One of the most recent trends in travel is that of group retreats. No longer do vacations consist of just family members, but families and friends traveling together. As a result, more space is needed resulting in an increase in interest in vacation home rentals.
- Word-of-mouth will always be king. Word travels and reviews will matter more and more as clients look to see what others have thought of a property before deciding to book for themselves.