If you haven’t heard the buzz about Airbnb, VRBO and the short term rental industry, this article may be a bit of a shock.
But if you’ve heard any of those names, you know that the way Real Estate is utilized in today’s world is much different than it was just a decade ago. Looking back just a few years ago, investing in Real Estate for income generation was confined to traditional renting.
Although reliable, the glass ceiling of the traditional rent coupled with the growing liability of being a landlord (especially in larger metropolitan cities like Chicago) held investors back from looking to the Real Estate class of investment for outsized returns in income.
Yet it is a new day, and Real Estate Investors in Utah made 97.6 million dollars in 2018 through short term rentals, and even smaller towns are generating upwards of $4,000,000+ by leveraging short term rentals. See the table below for a deeper explanation.
To us here at Hoasty, it’s pretty clear short term rentals aren’t going anywhere anytime soon.
Whether it’s for a vacation, a staycation, a family reunion or the traditional business travel the short term rental marketing is rapidly expanding.
But the problem with the pupil dilating gross income opportunity of short term rentals is the short sided investor. For the fact is, when a short term renter selects your property over a traditional hotel they are looking for adventure and new interesting experiences.
They won’t accept dirty toilets, un-fresh sheets, messy accommodations… they expect the hospitality grade, and rightfully so.
That my friends, is where Hoasty.co comes in. Not only does Hoasty take the stress out of short term rentals, but we actively look for partnerships with brands and services to be featured in our client’s Real Estate Investments to drive more revenue. Check out our Brand Partner page to understand more about how it works.
For Hoasty.co clients, we are a resource. Feel free to use our Hire Us tab to get a financial picture of just how much a property could earn if it were managed by Hoasty.
-Ken G. Barton
Founder & CEO | Hoasty.co