Where and How to Start a Property Management Business in the Short-Term Rental Industry
Today’s short-term rental industry is hotter than ever, fueled by more remote work opportunities and a housing market that’s seen incredible investor activity. But if you’re wondering where and how to start a property management business in the short-term rental industry, and you think you should do so in a larger market, you might be surprised to learn it’s the smaller, more rural destinations that are seeing impressive activity. Small and mid-sized cities are extremely popular for short-term stays, and an iTrip® franchise will allow you to capitalize on the best and profitable short-term rental locations and much more!
The Short-Term Rental Business is a Thriving Industry
Short-term rentals have been a popular option with travelers from the onset, with more guests turning to them every day. This is borne out by the fact that the short term rental industry growth has seen a trending rise in just a few short years. And while the pandemic may have slowed things down a bit, short-term rental franchise businesses and the industry as a whole have rebounded nicely, showing no signs of slowing down. In 2021, for instance, short-term rentals achieved 62% occupancy, up 5% from 2020, and up 10% from 2019.
iTrip has been a leader in the industry since 2008, and when it comes to starting a property management business with our brand, we’re proud of our straightforward – transparent process of how to open a short-term vacation rental franchise. It will have you leveraging our time-tested business model in no time, so you can start taking advantage of everything our thriving property management industry has to offer.
In the Short-Term Rental Business for Yourself, Not by Yourself
Becoming part of the iTrip family of vacation rental franchisees comes with important perks that only our years in the industry allow us to provide. We’re committed to your success from day one and are proud to be able to offer our franchisees:
· Proprietary Software
Our award-winning technology lets franchisees manage their properties through the convenience of their phones and often from the comfort of their homes. When combined with our system integrations and franchise app, these strategies allow our properties to rank higher in search results for a better bottom line!
· Deep Industry Relationships
We’ve nurtured deep relationships with important listing sites like Airbnb, Vrbo, Tripadvisor, and more — around 80 national and international sites — allowing your properties to be seen by hundreds of people every day.
· A Proven Business Model
We’ve developed a business model that acts as your roadmap, allowing you to capitalize on our robust industry without having to worry as much about how to handle day-to-day operations — because it’s all laid out in our proven processes and procedures.
· Marketing Expertise
You can count on our in-house expert support to create email campaigns, bimonthly newsletters, and social media exposure to reach your best customers and keep the iTrip brand name at the forefront.
We’re excited by our industry and its continued growth and look forward to helping our franchisees grow right along with it!
To find out more about franchising with iTrip to start a property management business, get in touch today.