Can a Short-Term Rental Property Management Business Be Profitable to Own? Partnering with iTrip Makes It More Possible Than Ever!
If you’re an investor interested in breaking into the short-term rental property management industry and you’re wondering whether a rental property management business is a profitable one to start, the answer is yes — with some qualifiers. Your success will depend a great deal on how involved you are in the growth of your business. It will also depend on the support that’s available to you. An iTrip Vacations® franchise opportunity is a true partnership between you and our brand, one that comes with access to industry expertise and plenty of guidance, all of which betters your chance for success!
The Short-Term Rental Business Industry Is an Explosive One
An iTrip property management franchise opportunity takes advantage of the multi-billion-dollar short-term rental industry, one that is continuing to see tremendous growth and showing no signs of slowing down. This trajectory is a result of several factors, including:
- A vibrant and influential Millennial demographic that places a premium on authentic travel experiences
- An increase in remote workers who want the flexibility of working from someplace other than home
- A demand for the safety and convenience that short-term rentals can provide over what many hotels may offer
- A favorable real estate market that makes investing in short-term rental properties more appealing
Globally, the short-term vacation rental market is expected to grow by nearly $63B during 2020 – 2024, and domestically, short-term listings earned over 26% more revenue in 2021 as compared to 2020.
What these facts and figures underscore is the huge potential for profit that a short-term rental property management business has, particularly if you partner with iTrip. Our proven business model, proprietary technology, and important industry relationships put our franchisees in the position of capitalizing on healthy demand in a way our competition can’t match. We can’t promise profitability — no franchisor can. But we can promise that our property management franchise resources and support will boost your potential for it.
iTrip Short-Term and Vacation Rental Services Needed Now More Than Ever
With our explosive industry comes new investors, and with new investors come new opportunities for iTrip franchisees. Many of these new secondary property owners will choose to be either absentee or hands off and will be looking for an experienced and professional short-term property manager to oversee day-to-day details. Your iTrip franchise will do just that as you grow the number of properties in your exclusive territory and take a percentage of each booking fee. This residual income increases with each property you add to your portfolio, while cleaning and maintenance fees will add to the potential to grow your bottom line.
We know a short-term rental property management opportunity has the potential for real profitability, especially when you can combine it with our expertise and guidance! As an iTrip franchisee, you can count on being in business for yourself, never by yourself.
To find out more about our property management services and how to take advantage of an iTrip franchise opportunity investment, contact our team today!
