Short-term rentals top of mind? If not, maybe they should be. With the demand higher than ever and projected to increase, 2022 might be the right time for you to try on a short-term rental.
A few tips?
1. Say yes to pets: In a recent survey, VRBO saw a 40% increase in the rental site’s overall demand for pet-friendly vacation homes.
2. Make it family-friendly. I’m talking bunk beds, video gaming consoles, bikes - all the things kids love.
3. Think on the longer side of short-term. With more people adapting to a flexible work schedule, markets everywhere are seeing an uptick in long-term rental stays.
Wondering which Canadian destinations are leading the pack in the short-term rental market? According to an analysis of LiftyLife data, here are the markets with the highest potential profits:
- Whistler, BC - $366 average daily rate
- Canmore, AB - $277 average daily rate
- Tofino, BC - $285 average daily rate
- Niagara Falls, ON - $171 average daily rate
- Kelowna, BC - $214 average daily rate
- Quebec City, QC - $123 average daily rate
Want to have a sit down about what it takes and what you’ll need to jump into the short-term market? DM me, and let’s find a time that works.
Cindy Grenier, Realtor