Module 1: Understanding the Vacation Rental Market
The short-term rental industry has grown hugely in the past 10 years and knowing the key players, the patterns and trends, and the history behind the growth will give you valuable background knowledge.
We are in a time of massive growth in the vacation rental market. More vacation homes are being purchased; more owners are planning on renting, and more tourists are finding this new mode of accommodation that fits their needs better than a hotel or resort.
With all these factors coming into play, this is the perfect time to get into the market, learn how to sell homes that will rent well, and create your niche as the go-to expert in the niche.
This module puts vacation rentals into perspective in the overall real estate picture and gives a broad overview of the market across the country and covers:
- Patterns and Trends in Vacation Rental Ownership
- The Different Vacation Rental Markets
- How to Identify Profitable Markets
- Regulations and Restrictions that impact owners
- The Lifestyle of Vacation Rental Ownership
- The Industry Professionals
- How to do the Research
- Learning about how the VR market has grown and is developing will give you the best foundation for building your business.
Module Outcomes
When you have finished this module you will be able to:
- Explore the patterns and trends that impact your VR real estate business.
- Define your current position within the STR market in your location.
- Research multiple sources for statistics and information
- Identify profitable markets in your area.
- Define different investor types.
- Review legislation and regulations in your area.
- Build your dream team of industry professionals.