Spring is finally here, and for short-term rentals and vacation spots around the country, peak season is about to come back to life. Grand Welcome, one of the leading short-term vacation rental management franchises, notes spring as an ideal time to open a location and take advantage of the approaching summer rental boom. By Elice Morgenson
Spring is finally here, and for short-term rentals and vacation spots around the country, peak season is about to come back to life. Grand Welcome, one of the leading short-term vacation rental management franchises, notes spring as an ideal time to open a location and take advantage of the approaching summer rental boom.
“In the vacation rental space, there appears to be two big switching seasons – spring and fall – where there seems to be a lull in travel,” said Matthew Clare, senior vice president of commercial. “We find that being able to bring a lot of people on board and bring them under contract in March and April is beneficial, because it gives us a good runway throughout the summer to the first switching season.”
Switching seasons offers a small breather for property owners between peak summer and winter rentals. Property managers take advantage of this break to look for new properties to manage and prepare for the next rental season.
The short-term rental industry has grown tremendously in the past few years, and summertime is its bread and butter. Grand Welcome uses a technology-forward business model that makes it easy for franchisees to partner with the brand and be up and running in 60 to 90 days. Once owners start acquiring properties to manage, they can launch in the profitable summer season and be ready to grow their inventory in the fall.
While the housing sales market has slowed considerably, property managers have found a great opportunity.
“We are at an interesting time when you think about the economy; it puts homeowners in a position where they need to monetize,” Clare said. “They may not be able to sell, so they decide to put it on the market and rent it.
“Many owners that are getting in this pool are financially motivated,” he added. “They make good decisions on how to price the property and are aggressive in making it available to rent, which makes it easier for our franchise owners to go and drive occupancy and make money off of it.”
Elice Morgenson