Short Term Rental Trends

Arizona Airbnbs & STRs

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RedAwning offers vacation rental property management for busy vacation rental owners and Airbnb hosts. Starts at 10% of revenue.
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Current Vacation Rental Performance in Arizona

Market Overview

Arizona's vacation rental market is thriving, driven by the state's vibrant tourism industry, unique natural landscapes, and favorable regulatory environment.

  • Tourist Demand: Arizona attracts a high volume of tourists, particularly to destinations like the Grand Canyon, Sedona, and Phoenix. This demand is fueled by the state's natural beauty, cultural attractions, and various events such as MLB Spring Training, the Waste Management Phoenix Open, and the Arizona State Fair.

Seasonal Trends

  • Peak Seasons: The spring (March to May) and fall (September to November) seasons are particularly lucrative due to mild temperatures and significant events like spring break vacations and outdoor festivals. Winter months also see high demand as tourists escape colder climates.
  • Occupancy Rates: Phoenix, for example, has an average occupancy rate of 67% (projected to rise to 70% in 2024), with areas like Tempe achieving even higher rates at 72%.

Economic Performance

  • Revenue: Airbnb hosts in Phoenix earned an average of $28,000 annually in 2023, with average daily rates reaching $165. In Tempe, estimated annual revenue for Airbnb properties is around $34,200.
  • Growth: The Phoenix Airbnb market grew by 12% in 2023, outpacing the national average, and the city welcomed over 44 million visitors, generating $16 billion in direct travel spending.

Regulatory Environment

  • Laws and Regulations: Arizona has Airbnb-friendly laws, preventing cities from banning short-term rentals. Cities require annual licenses or permits but do not limit the number of licenses or property types. This supportive legal framework makes Arizona an attractive market for investors.

Challenges and Considerations

  • Housing Shortage: The surge in short-term rentals has contributed to Arizona's housing shortage, with approximately 50,000 active Airbnb and Vrbo listings. This has driven up housing prices and sparked debates about regulating short-term rentals to address the housing affordability issue.
  • Guest Experience and Maintenance: Ensuring guest satisfaction through quality service, comprehensive amenities, and regular maintenance is crucial for the success of vacation rental properties in Arizona.

Investment Opportunities

  • Key Regions: Areas such as Phoenix, Sedona, the Grand Canyon region, Tubac, Bisbee, and Cottonwood offer promising investment opportunities due to their high tourism traffic and unique attractions.
  • Data-Driven Decisions: Investors rely on analytics from platforms like AirDNA to optimize pricing, maximize occupancy, and gauge potential earnings in Arizona's diverse rental markets.

Current Airbnb & VRBO Trends by City

No state available.

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FAQ

What does your pricing structure look like?
Our prices start at 10% of revenue. You can check out our pricing page for more information.
What types of vacation rental properties do you manage?
We manage a wide range of vacation rental properties, including single-family homes, condos, apartments, and luxury villas. Our services are tailored to meet the unique needs of each property type.
How do you handle guest support?
Our team provides 24/7 guest support, handling all inquiries, booking assistance, and any issues that may arise during a guest's stay. This ensures a seamless experience for your guests.
What is included in your damage waiver?
Our damage waiver provides $3,000 in coverage per booking, protecting you from accidental damages without the need for security deposits. This coverage is automatically included with every booking.
How does the payment process work?
We handle all aspects of the payment process, including processing payments, managing declined cards, and providing chargeback protection. Funds are deposited directly into your account, ensuring a smooth and secure transaction.
Can I still use my own booking website?
Absolutely! We offer a direct booking website service that allows you to showcase your property and accept bookings directly, bypassing the fees charged by major booking sites.
How do I get started with RedAwning?
Getting started is easy! Simply contact us for a free consultation, and our team will guide you through the onboarding process to ensure a smooth transition to our platform.
Why is RedAwning better than other property management companies?
RedAwning sets itself apart from other property management companies with a technology-driven, cost-effective approach that offers both full-service and partial management options, catering to vacation rental owners who value flexibility and control. Unlike competitors like Vacasa or AvantStay, which focus solely on full-service management with fees ranging from 25-50% of income, RedAwning provides a choice: comprehensive oversight including marketing, reservations, guest support, and maintenance, or a partial-service model emphasizing marketing and bookings across 50+ platforms like Airbnb, Vrbo, and Booking.com, potentially increasing bookings compared to narrower-channel options like Evolve. RedAwning's fees start at 10%. Having served the industry for 15 years, RedAwning combines experience with lower fees and rapid onboarding—listing properties in an afternoon—appealing to hosts who want efficiency without losing decision-making power, though it may not suit those needing extensive local support like Vacasa provides. Its scale (20,000+ properties across 10,000 destinations) and data-driven pricing give it an edge over Evolve’s simpler approach, making it a versatile choice for tech-savvy hosts seeking tailored management solutions.