Since the demand for vacation homes is lower than the supply as of 2024, making your rental unit stand out should be a top priority. When you reach a wide audience, you can sell your unit as one of the best in the business and turn a great profit.
Here, we're going to discuss some vacation rental platforms that you can use to connect with travelers. Read on to learn the pros and cons of each one.
Airbnb: A Tried and True Classic
Airbnb is one of the biggest vacation rental platforms on the web. It has over 6.6 million properties listed by four million people across the globe. It's also accessible in over 220 countries and regions, which means that your Austin property can reach millions of travelers across the globe.
The main benefits of Airbnb for property owners include:
- Convenient and easy to manage
- Simple-to-create accounts
- A low service fee for hosts (about 3%)
- Rules designed to protect hosts (no threats/misconduct/abuse, disclosure of legally owned weapons before arrival)
- Low vacancy rates because of how many people use the app
There are also some disadvantages:
- Potential property damage because Airbnbs are extremely accessible
- Specific tax compliance requirements
- Hosts need to manage all aspects of bookings on their own
What About Vrbo?
Vrbo is a popular Airbnb alternative. However, this doesn't mean that they're the same thing - in fact, they have completely different target audiences.
Airbnb lets anyone rent out to individuals and couples regardless of their property size and how much space they want to rent out to each person. However, Vrbo only lets you rent out an entire space to one set of guests, making it tailored to spacious luxury rental units that can accommodate whole families.
Some Vrbo pros include:
- The ability to rent to large groups and families
- Hosts can set standards for qualifying guests (age requirements, occupancy maximums)
- Promo tools like discounts on bookings to make you competitive
There are also some cons of Vrbo:
- Lower visibility than Airbnb or other platforms
- 8% commission taken from every rental
- Annual fees just to retain an account
- You can't rent out one building to multiple people
Vacation Rental Listing Property Managers: A Smarter Alternative
Regardless of what vacation rental platform you use, you'll need to create, manage, and market your own Austin listing. This means checking up on tenants, hiring cleaning crews, and more.
Turnkey property managers can help you meet all of your needs with minimal effort. We'll provide short-term tenant background checks to make sure that they won't disrupt or damage your property. We'll also hire cleaning and maintenance teams, communicate with guests, and manage bookings.
Working with PMI is a great way to collect passive income with minimal difficulty.
Get Started with Vacation Rental Platforms in Austin, TX
Now that you know some vacation rental platforms that can help you turn a profit from your unit, it's time to work with experts to find quality tenants in Austin. PMI Austin Metro is committed to helping Texas landlords find and approve short-term tenants for properties of all kinds. Schedule a consultation with our team to learn more about short-term rental management.
