Short Term Rental Trends

Florida 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 Florida

Market Trends and Performance

  • The vacation rental market in Florida continues to be robust, despite some challenges. Demand, although slightly down due to economic factors and changes in travel behaviors, remains strong, particularly for coastal properties and those with desirable amenities.

Key Factors Influencing the Market

  • Coastal Properties: Areas like Clearwater, Madeira Beach, and Anna Maria Island continue to perform well, driven by their coastal lifestyle, beach access, and high-end amenities such as private pools and waterfront views.
  • Amenities and Guest Expectations: Travelers are seeking properties with upscale features like heated pools, outdoor kitchens, and direct beach access. Sustainability and eco-friendly rentals are also gaining popularity.
  • Remote Work and Extended Stays: The rise of remote work has led to an increase in longer stays, blending work with leisure, which Florida’s warm climate and abundant vacation rentals cater to effectively.

Challenges and Opportunities

  • Market Saturation and Competition: The influx of new properties has intensified competition, making it crucial for properties to stand out with unique amenities and high guest satisfaction ratings.
  • Economic and Regulatory Challenges: High real estate prices, elevated interest rates, and special assessments in condos due to new safety regulations are adding to the financial burden for property owners.
  • Opportunities for Investors: Despite these challenges, there are opportunities for buyers and investors, particularly in areas like Pompano Beach, Dania Beach, and Deerfield Beach, which offer lower entry costs and steady tourist demand.

Financial Performance

  • Occupancy and Rates: While overall occupancy has seen a slight decline, rates for waterfront properties and those with high-demand amenities are commanding higher prices. Average Daily Rates (ADRs) are expected to see a modest increase.
  • Revenue and Profitability: Revenue per Available Room (RevPAR) has been impacted by reduced occupancy, but there is optimism for stabilization and potential growth as supply and demand balance out.

Overall, Florida's vacation rental market remains a strong and attractive sector, with opportunities for growth and profitability, especially for well-managed and amenity-rich properties.

Current Airbnb & VRBO Trends by City

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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.