Short Term Rental Trends

Oregon 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 Oregon

Market Overview

The vacation rental market in Oregon, particularly along the Oregon Coast, is experiencing significant changes and challenges in 2024.

Regulatory Environment

Regulations have become a critical factor in the Oregon Coast vacation rental market. Since 2018, municipalities have increasingly regulated and restricted the areas and properties eligible for vacation rental licenses. This has led to a shrinking pool of eligible properties, with many areas now having waitlists for permits. For example, in Lincoln City, recent rule changes have capped the number of permissible licenses, reducing the overall quantity and making it more difficult for new investors to enter the market.

Performance Metrics

  • Occupancy and Demand: Despite the regulatory hurdles, existing vacation rentals are performing well. However, overall occupancy rates have been slightly lower due to increased supply and softening demand. Late fall seasons are showing signs of recovery, with November occupancy pacing 2% ahead of last year.
  • Average Daily Rates (ADRs): Rates have been relatively stable, with minor increases. For instance, August 2024 saw daily rates only $3 higher than the previous year but $23 lower than in 2022.
  • Revenue Per Available Room (RevPAR): RevPAR has been declining due to lower occupancy rates, but there are indications that it may stabilize in the late fall season.

Investment and Returns

  • Investment Challenges: The high demand and limited inventory, combined with regulatory barriers, make it increasingly difficult to acquire new vacation rental properties. However, properties that are already licensed and operational can generate significant returns, with some generating over 10% gross annual income of the valuation.
  • Market Opportunities: Despite the challenges, there are still opportunities for investors who can navigate the regulatory landscape and secure desirable properties. The unique and limited nature of these properties can lead to higher returns for those who manage to enter the market.

Future Outlook

The market is expected to continue its resilience, with strong demand and a trend towards shorter booking windows. However, the regulatory environment will remain a key factor, and investors will need to be well-informed and supported by local experts to succeed.

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.