In May 2022, travelers booked 17 million short-term rental nights across the US. AirDNA reports that short-term rental demand is up 18% year over year. This makes for a 26% boost over 2019 and a 66% revenue increase.
Such statistics demonstrate how in demand the short-term rental industry is right now. And travel trends back this up too, with many travelers taking advantage of remote work and traveling for extended periods, while others are traveling with multi-generational family groups or friends. Either way, it’s not surprising travelers appreciate the privacy and convenience of a well-appointed short-term rental property.
Of course, the surge in demand encourages more supply of short-term rentals. A report on the year so far reveals a predicted new supply of around 21% over last year. As a result of this increased competition, property managers must stay abreast of travel trends and offer value-added services and amenities. These tips will help you determine ways to add more value to your short-term rentals.
Travelers search for specific amenities using available filters on their platform of choice, including Google Vacation Rentals and Airbnb. Let’s dive into the most-searched-for features that will help your short-term rentals stand out and stay booked.
Coffee-makers, well-functioning air conditioning, heating, and of course, fast WiFi are non-negotiables to remain competitive in the short-term rental space.
Also, in demand are pet-friendly accommodations. With more people choosing longer stays, it’s natural to want to bring all of their family members.
No one wants to stay in a tired, outdated vacation rental. Today’s travelers want to visit modern, well-lit, and clean-looking properties. Outdated interiors will get passed over while updated kitchens and bathrooms have greater appeal and therefore can fetch a higher price.
In today’s hyper-connected world, guests of all ages require fast WiFi. They also expect smart TVs with streaming services (or an easy way to plug in their own Firestick), and amenities like smart outlets and automated thermostats. Smart upgrades are convenient and modern - something that more and more travelers are looking for in their stays.
Multi-generational get-togethers are also on trend as well as large groups of friends looking to reconnect. As a result, properties with swimming pools are in high demand. Even without a pool, you’ll want to ensure your outdoor space is as welcoming as the interior with comfortable patio furniture, outdoor lighting, and a grill for outdoor dining.
Guests want to feel safe in their vacation rental. Smart locks, security cameras outside, security lighting, and regular maintenance to check smoke and carbon monoxide detectors help them feel secure.
Keyless entries make check-ins easy and secure. There’s no need to coordinate greeting guests to hand off keys; instead, they can enjoy the convenience of checking in when they arrive without stressing that they’re running behind.
Other trends include guests who want to book meaningful local experiences. Forget one-size-fits-all motorcoach excursions; today’s travelers seek greater insight into the local area. Short-term rental property managers can connect guests with memorable experiences such as local chefs who offer private cooking classes or intimate tours of top tourist attractions.
Automate your property management system to handle your short-term rental business’s operations, so you can focus on guest demands for boosted appeal, excellent experiences, and five-star reviews!
Uplisting is a short-term rental property management system built specifically to support property managers in scaling their businesses. Our all-in-one system helps you grow your short-term rental revenue and streamline your business, with features such as automated guest messaging, multi-calendars, and channel management, so you can turn your attention to creating a GOAT guest experience that keeps travelers returning time and time again.
We’ve built an all-in-one property, channel management and automation tool to help property managers scale seamlessly.