With over 660,000 Airbnb listings in the United States and approximately 65,000 properties in the Disney/Orlando vacation rental market alone, we know it’s critical to set our homes apart. That’s very true in most tourism-focused vacation rental markets, especially with the strong spike in inventory and competition over recent years. We’re seeing the emergence of new (and not-so-new) niche markets throughout the country.
How can you identify these niche markets and make sure your property stands out from the pack by catering to these audiences? On top of strategically decorating your vacation rental, here are a few markets that are worth focusing on to boost your return on investment and take your guest experience to the next level:
01. Pet-Friendly Tourism
Our furbabies are part of the family, and they are here to stay. In fact, 78% of pet owners travel with their pets; and it’s important to give that some thought when you set up your vacation rental. Ideally, your pet-friendly home has tile or luxury vinyl flooring throughout. Choose rugged upholstery and fabrics, such as indoor/outdoor area rugs that can be easily cleaned if there is an accident. Consider adding practical and whimsical pet-friendly touches. Add stainless steel doggy bowls to the kitchen and provide a high-quality, washable throw to protect the couch. Take it to the next level with decor – wallpaper with Dalmatian spots? Dog-themed artwork or trendy cushions that can double as pup beds in some of the rooms?
Whatever you do, allowing pets at your short-term rental will mean more eyes on your vacation rental listing and should lead to more bookings. Charge a reasonable pet fee, and this should more than make up for any damages caused by your furry guests.
02. Electric Vehicle Drivers
In 2021, some 630,000 plug-in battery and hybrid electric cars were sold, twice as many as the year before. This number will increase exponentially over the next few years. Currently, very few vacation rental homes and townhomes feature Level 2 EV chargers, which are essential for any family traveling with their EV.
A recent Airbnb search of one resort with 600+ homes here in Orlando showed only 2 with EV chargers! Travelers filtering their search to find onsite chargers will find a limited number of homes, and one of those could be yours! The cost of installing a charger in the garage or next to the driveway is fairly low compared to the added marketing benefit.
03. Accessibility Features
With one in four adults in the US classified as having a disability, surprisingly, few vacation rentals cater to these travelers. Airbnb features 21 accessibility filters that make it easier for travelers with disabilities to find homes that will be comfortable and easier for them to navigate. These include step-free entry to the home and to specific rooms, entryways that are wide enough to accommodate a wheelchair, step-free shower access, and more.
Many families travel with elderly relatives who need these accommodations. If your home can easily accommodate these adjustments, consider including them in the home and your listing.
04. Dedicated Workspaces
While the “digital nomad” trend may be overblown with some workers returning to their traditional offices, there is no question that people are seeking a dedicated workspace in their vacation rental. Make sure you add a desk or small table with an ergonomic chair in a quiet nook and that your WiFi signal is strong. This is another option to check the dedicated workspace filter in your listing, resulting in more eyes on your vacation rental!
05. Location-Based Amenities
If you’re in a theme park area like Orlando, you will find that movie-themed rooms are especially favored. Disney World and Universal Orlando are right around the corner and a major reason for visiting, so vacation homes with interior design that features our guest’s favorite characters are a huge hit.
Have a vacation cabin in the mountains where a hot tub is a popular amenity? Guests can search for this, and if you don’t have one, your listing won’t show up. Perhaps your home is located in a beach market where bicycling is a great way to get around and immerse yourself in the sights. A bicycle rack could be just the added convenience to entice someone to book over another property.
Choosing Niche Markets for Your Area
The list of niche markets for vacation rental owners and property management companies to consider is endless. For instance, the list of niche markets for urban short-term rentals may be very different. Regardless of where your investment property is located, remember your vacation rental is a business. Just like any business, it’s important to know your market and prominently highlight the features your unique guests are looking for!
Think about what filters potential guests may be using when they’re searching for a rental in your area. A great place to find inspiration is within feedback from your past guests. What have they raved about, and what have they requested that you don’t have yet? Performing research and paying attention to these details will not only gain positive guest reviews but will allow you to increase your return and boost occupancy rates.
Bonus Vacation Rental Tip for Owners: Make Sure You List It
If you’ve made updates to your rental investment property, it’s essential to make sure you promote it on your listings! You can add it to your listing description and headline. Hire a professional photographer to come out and take stunning images that showcase the new features. Most importantly, don’t forget to add it to the searchable amenities.
Own a vacation rental in Orlando or considering purchasing an investment property in the area? As a professional vacation rental management company in Orlando, our team is here to help you with all of your needs would love to learn more about how we can assist you! Feel free to give us a call or learn more about our full-service management services.
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