Short Term Rental Trends

Oklahoma 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 Oklahoma

Market Overview

Oklahoma's vacation rental market presents a mixed picture, influenced by both local and national trends.

Oklahoma City

  • The average occupancy rate for short-term rentals in Oklahoma City is 53%, with an average daily rate of $143.60. The city experiences moderate seasonality, peaking during summer months and major events.
  • Despite national trends, Oklahoma City's short-term rental market has shown impressive growth, with a 40% increase in Airbnb host revenue from 2019 to 2022. The city outperformed the national average in revenue growth and occupancy.

Broken Bow

  • Broken Bow, known for its outdoor activities and natural beauty, attracts a steady stream of visitors. The area sees a surge in travel demand from spring through summer and again in the fall and holidays. Home prices are around $285,000, making it an affordable option for investors.
  • The demand for mid-term rentals has grown significantly, and properties with amenities like hot tubs, comfortable outdoor spaces, and proximity to popular attractions are in high demand.

National Context and Local Implications

  • Nationally, the vacation rental market is expected to grow at a slow pace in 2024, driven by factors such as the increasing popularity of online booking platforms and flexible travel options. However, occupancy rates have been declining since 2020, with a forecasted occupancy rate of 58% for 2024.
  • The influx of new vacation rental properties has led to increased competition, causing rental prices to drop and occupancy rates to decline in some markets. This trend is evident in Oklahoma as well, where travelers have more options and can often secure last-minute reservations at lower prices.

Key Metrics and Trends

  • Average nightly rates for vacation rentals in Oklahoma can vary, but they are generally around $265 per night, with discounts available during off-peak times.
  • Properties with amenities such as pools, hot tubs, and pet-friendly accommodations are highly sought after and can command higher rates.

Investment Considerations

  • For investors, Oklahoma City and Broken Bow offer promising opportunities due to their affordable real estate markets and growing tourism industries. However, it is crucial to conduct thorough market analysis and consider factors like seasonality, local events, and the overall economic climate.

In summary, while Oklahoma's vacation rental market shows potential, especially in areas like Oklahoma City and Broken Bow, it is important to navigate the challenges posed by increased competition and declining national occupancy rates.

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.