Thinking of using your property as a vacation rental? You're onto something: by 2030, the vacation rental industry will be worth $228.9 billion!
Of course, the fact that the industry is blossoming doesn't mean every rental will succeed. If you want to maximize your bookings, you'll need to choose a platform that will help you reach your target audience.
Not sure what to look for? Read on for our list of the best vacation rental platforms and what makes them so appealing!
Airbnb
Airbnb is the most popular short-term rental website on the market. In 2023, they had over 7.7 million listings and 448 million bookings. Due to its size, it offers a variety of accommodations, amenities, and services.
As a host, you pay no fees for listing a vacation rental. That said, you do pay a service fee per booking. Depending on your location and some other factors, you'll either pay it yourself or split the fee with your guest.
Booking.com
Originally a hotel booking site, Booking.com is now a major player in the vacation industry as well. It's known for offering many ways to simplify your vacation rental marketing and optimize your listings.
Booking.com allows you to choose between a variety of payment methods, from credit and debit cards to digital payments. On average, it charges you a 15% commission per booking.
Vrbo
Unlike Airbnb, Vrbo only allows you to list private properties. Shared spaces aren't allowed, which makes Vrbo a nice fit for families. Other than that, you can list anything, from bungalows to mountaintop cabins.
On Vrbo, hosts can choose between two fee structures. You can pay per booking or go for an annual subscription fee of $499. The former option consists of a 5% commission fee and a 3% payment processing fee.
Homestay.com
As the name implies, Homestay.com is all about offering a genuine travel experience. As a host, you must be there for your guests and help them get acquainted with the local customs.
Hosts can choose to get paid via two payment options: Standard and Deposit. The former is your standard 15% booking fee. The deposit option means you'll receive your money two days after your guest arrives.
Tripadvisor
Founded in 2000, TripAdvisor is among the oldest sites for vacation rentals. This longevity has given it a lot of brand recognition. It's also a popular comparison site, which is a key factor in advertising rental properties.
TripAdvisor charges a 3% commission fee per booking. Keep in mind that each property you list will also be available on its sister site, FlipKey. Increased exposure and visibility can help you increase bookings.
Best Vacation Rental Platforms for You
With so many vacation rental platforms out there, finding the right one for your needs can be a challenge. For the best results, take a closer look at each platform we listed above!
Looking for help with managing your Vail, CO vacation rental? At PMI Vail, we offer a complete package of property management services! Contact us here to see why we're one of the fastest-growing franchises in the U.S.
