Short Term Rental Trends

North Carolina 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 North Carolina

Market Overview

North Carolina's vacation rental market is driven by a strong economy, dynamic real estate conditions, and the state's appeal as a tourist destination. Major cities like Charlotte and Raleigh contribute to the state's economic health, while prestigious universities fuel innovation and a skilled workforce.

Key Metrics and Trends

  • Occupancy Rates: The average occupancy rate for vacation rentals in North Carolina varies by region. For the North Carolina Coast, the average occupancy rate is 58%, which is consistent with the national average. This indicates a steady demand in coastal areas.
  • Revenue Performance: The average Revenue per Available Night (RevPAN) in the North Carolina Coast is $105, highlighting the potential for significant revenue generation through optimized pricing strategies.
  • Booking Patterns: Guests in the North Carolina Coast tend to book vacation rentals 87 days in advance, which is higher than the national average. This suggests the importance of proactive pricing and marketing strategies to capture early bookings.

Seasonality and Demand

Understanding seasonality is crucial for maximizing returns. Peak seasons, such as summer months for beachfront properties and winter for mountain destinations, offer higher demand and revenue opportunities. During low seasons, strategies like offering discounts or targeting different guest demographics can help maintain steady income.

Location-Specific Insights

  • Coastal Areas: Places like Sneads Ferry, with its proximity to North Topsail Beach, offer high occupancy rates (63%) and significant annual revenue ($71K), making them prime destinations for short-term rental investments.
  • Mountain Areas: Locations near the Blue Ridge Mountains and the Great Smoky Mountains National Park are attractive due to their natural beauty and outdoor activities, enhancing Airbnb demand.

Outlook for 2024

The outlook for 2024 is optimistic, with expected growth in demand (10.7%) supported by economic expansion and the recovery of domestic travel. Occupancy levels are projected to stabilize, and Average Daily Rates (ADRs) are expected to increase by 2.1%, contributing to a rise in Revenue per Available Room (RevPAR).

Regulatory Considerations

Investors should be aware of local regulations that may impact short-term rentals. Some municipalities may have restrictions on short-term rentals, which can affect the profitability and feasibility of investments.

Overall, North Carolina presents a promising landscape for vacation rental investments, with diverse opportunities across coastal, mountain, and urban areas, and a positive outlook for 2024 driven by economic recovery and balanced demand-supply dynamics.

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.