You bought an investment property with the hope of making a solid passive income. So far it hasn't worked out. If you want to increase your bookings and make more money, you need to list your property on a vacation rental platform.
But which one is right for you? There are so many options to choose from these days.
In this article, we'll go over the major players as well as a few up-and-coming vacation rental platforms. Let's dive in!
Airbnb is a giant in the vacation rental industry and has become one of the most recognized and trusted brands. It has a worldwide reach, so there's the potential for lots of exposure. On the other hand, it has millions of vacation homes for rent so your property could easily get overlooked.
There's no fee to list your property on Airbnb, however, they do charge a service fee per booking. This can be up to 15%, depending on your location. To offset this cost, hosts can charge guests extra fees, such as a cleaning fee or a security deposit.
VRBO is a popular vacation rental platform and is one of Airbnb's top competitors. The two have a lot in common, but VRBO only lists private homes, whereas Airbnb also lists rooms for rent.
Hosts can choose to pay an annual fee to list on VRBO or they can choose a per booking fee. Guests are often charged higher service fees compared to Airbnb when booking through VRBO.
If you need help getting started, Evolve is the platform for you. Their team will help you create an eye-catching listing with professional photography. They also manage bookings for you and handle all the maintenance and cleaning.
Like with Airbnb, there's no fee to list, but they do charge a service fee. They charge a ten percent fee, which doesn't change based on location.
One downside of Evolve is that not just anyone can list on their platform. You have to submit information about your property and then they'll decide if it's a good fit.
Vacasa is similar to Evolve in that they handle everything for you. They create beautiful listings with professional photography. They also have a dedicated team to take care of various property management tasks.
Another similarity with Evolve is that your property has to be accepted before you can list it on Vacasa. Once it's accepted, they will give you a custom quote for their fees.
One unique feature of Vacasa is that they have relationships with other vacation rental platforms. If you list on Vacasa, it can also appear on other sites like Airbnb, VRBO, or Booking.com.
The Best Vacation Rental Platforms to List Your Property On
We've listed some well-known vacation rental platforms as well as some that are newer to the game. Which one is best for you? It's up to you to decide.
If you have a rental property in Traverse City, MI and you don't want to compete with properties all over the world, you should list with PMI Grand Traverse. We'll manage bookings, handle cleaning, and much more.
Get in touch today to learn more about our short-term management services and pricing.