Flexibility, adaptation to the market, new business model, technology, network platforms, service standards, profitability on idle real estate assets, are some of the aspects that surround and have pushed the short-term rental industry to emerge in many markets. as a growing industry.
With the emergence and growing popularity of platforms such as Airbnb, Booking, VRBO, Despegar and others, the short-term rental property market is growing rapidly globally, as well as in Chile, and has become a viable alternative to renting. long-term traditional for many owners.
In Santiago de Chile, according to data recorded by AirDna (AirBnb, VRBO, others) for Q1 2022, we have just begun to notice an increase in the number of ads available for short-term rentals, compared to the last 24 months ( COVID period). As expected, the smallest apartments are the most commonly available, especially 1-bedroom apartments which represent 60% of all listings, the trend is likely to continue growing as Chile relaxes its borders in the coming months .
On the other hand, for the Valparaíso region, 2-bedroom ads predominate with a 40% presence, which is repeated and growing along the coast.
What is the difference between short-term rentals and short-term rentals? traditional lease?
The main difference is the length of stay, while a typical long-term residential property rental is a minimum of 12 months, the average short-term booking, on the other hand, is usually a couple of days or even as short as one night.
The second big difference is the type of property offered: from houses or furnished apartments in urban spaces such as those located far from the city, especially today where disconnection can be so valued while working remotely, since in the In most cases, they look for a place that is relatively close, with internet connectivity, with the basic amenities available and that is in reasonably good condition that a traveler may need: clean towels and sheets, iron, hair dryer, etc.
What are the benefits of short-term rental?
There are many benefits, among which we can mention the following: if the property is suitable for short-term rental (good location, condition, design), it is likely to provide a better return to the owner than renting it long term. Obviously, this depends on how well the property is managed: what the average nightly rental and occupancy is in a given month, as well as any additional expenses that come with short-term rentals (cleaning, utilities, etc.)
Secondly, short-term rental provides greater flexibility to the owner, as he can reserve a few days or weeks for his own use, for example when family or friends come to visit. Additionally, it allows the homeowner to recognize and resolve any maintenance issues before they become a real problem.
How can I contact professional help?
If you do not have time or do not want to manage all the requests and demands that any visitor may have during their stay, or if you cannot take care of cleaning before or after visitors at your property, or you do not know how and what IT tools to use to position and attract more national or international market to visit your property, then it might be a good idea to hire professional help.
A short-term rental management company, like BUHO Property, can take all the hassle out of the process, and as industry experts, they know exactly how to optimize listings to attract the right guests and get the best return on your property. Short-term rental management companies offer comprehensive property management that includes setting up and launching the property the right way, communicating with guests, organizing, and professional maintenance and cleaning, every day. . Price and occupancy tracking, monthly financial reports, etc.
In short, its effort based on the skills, abilities and tools available is based on one hand on achieving, through the use of dynamic rates, the % of projectable occupancy for each property and with it, the billing and profitability margins per cycle. projected.
