Author

Phoebe De Riggs

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One of the best things about short-term rental schemes is that it allows blue collar people the chance to own and maintain a second property. Most people would never be able to justify taking a mortgage on another home or tying up their savings in real estate without a return expected. This leads to a lot of people searching for properties in their ideal vacation spots, often outside of their home countries.

Everyone who owns or manages vacation rentals will quickly become familiar with their seasonal traffic. After the first couple years of operation, you may find yourself wondering if there’s anything to do to remedy your seasonal slumps. It can be extremely frustrating knowing there’s a beautiful property sitting vacant.

Setting effective and profitable rates is a major hurdle for vacation rental owners and first-time managers. And rightfully so, it’s a big subject that requires research and constant monitoring. Of course, it’s possible to set a flat rate that guests find fair and allows you to make a profit. But your occupancy will be severely limited, and success is certainly short-lived.

Four or five years ago, the web was awash with articles featuring emphatic proclamations about fail-safe vacation rental retirement plans. Many of the headlines were presenting the idea of VR management as an unrealistic low-effort money-making scheme. Now that the smoke has cleared and the vacation rental industry seems to be approaching some sort of predictability, how have retirees actually fared in the business?