Short Term Rental Trends

Ohio Airbnbs & STRs

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Current Vacation Rental Performance in Ohio

Market Outlook

The vacation rental market in Ohio is showing promising signs for 2024, despite some broader industry challenges.

Key Markets

Several areas in Ohio are highlighted as top destinations for vacation rentals:- Logan, Ohio: Known for its picturesque scenery in Hocking Hills State Park and along the Hocking River, Logan boasts a cap rate of 12.2%, a median home price of $233K, an occupancy rate of 57%, and an average daily rate (ADR) of $343.- Akron, Ohio: With a low median home price of $145K and a strong cap rate of 9%, Akron is attractive due to its proximity to Cleveland and local attractions like Stan Hywet Hall & Gardens and the Akron Art Museum. It has an occupancy rate of 57% and an ADR of $199.

Demand and Occupancy

Ohio is experiencing a surge in vacation rental demand, particularly in areas with unique attractions. For instance, the demand for vacation rentals in Ohio saw significant growth, with certain regions benefiting from their natural and cultural appeal. The occupancy rates in these areas are robust, with Logan and Akron reporting occupancy rates of 57% each.

Guest Preferences

Guests in Ohio are favoring rentals with unique features and amenities. Top-rated vacation rentals include those with hot tubs, saunas, pools, and other recreational activities. Locations such as Hocking Hills and other scenic areas are particularly popular, with many rentals receiving high ratings for their cleanliness, location, and overall experience.

Regulatory and Market Considerations

While the market is positive, it is important to note that regulatory changes and increased competition from online travel agencies (OTAs) and hotels can impact the performance of vacation rentals. However, Ohio's markets are generally less restrictive compared to some other regions, making it a favorable state for short-term rental investments.

Overall, Ohio's vacation rental market is strong, driven by its attractive locations, favorable regulatory environment, and growing demand for unique and well-equipped rentals.

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.