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Hawaii Vacation Rental Owners Continue To Do Well In A Changing Legal Landscape

Hawaii vacation rental property management service

We’ll start with several fascinating facts: a recent ranking of the best places in America to buy a vacation home listed two Hawaii destinations – Kihei in South Maui and Waikoloa on the Big Island – among the top 25.

A report by the Hawaii Tourism Authority indicated the number of vacation rental units on the Hawaiian islands mushroomed from 17,000 in 2015 to 23,000 in 2017 – a 35% increase in just two years.

In 2018, Hawaii Appleseed revealed that 1 in 24 homes in Hawaii was a vacation rental property. In Kauai alone, that number dropped to 1 in 10. And in Lahaina, it was 1 in 3.

Combine all that with a quick scan of Airbnb listings in Maui, Oahu, and Kauai running as high as $3,000+ per night, and it’s understandable why interest in short-term vacation rentals is intense among many Hawaii property owners.

But with legislation like Ordinance 19-18 for Oahu short-term vacation rentals – and related fines for violators of up to $10,000 per day – property owners from Waikiki to Waikapu have become concerned about the regulatory side of what’s been an outstanding economic opportunity.

Not surprisingly, owners are seeking out the advice of the best Hawaii vacation rental managers. As a full-service vacation rental management company serving the state of Hawaii – including Maui, Oahu, and Kauai – our focus is on optimizing the experience for owners and renters.

One Fine Flat – our Hawaii vacation rental property management service – ensures you’re always compliant with regulations. We handle everything from optimizing vacation rental pricing on a daily basis to communicating with renters throughout the process and keeping your property squeaky clean – even as your turnover rate rises higher and higher from improved occupancy rates. While you largely sit back and collect a direct deposit each month.

Want to talk about your opportunity in Hawaii vacation rentals? Schedule a free consultation with a One Fine Flat vacation rental property management expert – and request our complimentary guide, Capitalizing on the Vacation Rental Boom: 8 Keys to Success:

Hawaii vacation rental company

 

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Miami Vacation Rental Management: Yep, The Local Market Is Booming – But Be Careful

Airbnb Miami Beach Florida

Realtor.com recently listed Miami as America’s fourth most profitable city for vacation rentals. It’s no mystery why.

Miami beaches are, of course, gorgeous. And they sit in an urban setting with something for almost everyone … throughout every season. For owners of vacation rentals, that’s a significant advantage. Unlike other tourist spots, visitors flock to Miami in the winter and in other seasons.

Vacation rental experts consider the city a year-round opportunity. And the best vacation rental managers in Miami know how to make the most of that opportunity. But we’ll get to that in a moment after we cover the caveats.

Miami-Dade County regulations governing short-term vacation rentals are … well, fairly lengthy. And for some, they’re confusing. Truth be told, the county ordinance is considered one massive pain in the butt by a good number of Miami property owners. But ignore them at your own peril: penalties have run in the thousands of dollars for some violators.

And this may come as no surprise: many Miami owners, like you, want to capitalize on the excellent opportunity in short-term vacation rentals. So, it’s fair to say this is one hotly competitive market.

Success in the Miami vacation rental market means all major elements must be nailed – from regulatory compliance to daily pricing … cleaning services to listings on Airbnb and other sites.

A small percentage of owners have the desire, time, and skill to handle everything on their own – and do it well. Many others have found success by turning to one of the few high-quality and highly-economical services focusing on Airbnb property management. That’s us. At One Fine Flat, you mainly sit back and receive a direct deposit for your Miami vacation rental property each month. While we do the work.

Find out more by getting our complimentary guide, Capitalizing on the Vacation Rental Boom: 8 Keys to Success.

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How Las Vegas Property Owners Make the Most of Their Vacation Rental Opportunity …

Las Vegas airbnb management

… On and Off Airbnb.

Let’s start with the financial opportunity for Las Vegas homeowners currently renting to vacationers – or planning to. Statistically, your property sits in one of the world’s most in-demand locations. We’ll share what some of those statistics look like.

According to the Las Vegas Convention and Visitors Authority (LVCVA), 2018 Sin City visitor volume added up to a staggering 42,116,800 visits. The city’s available room inventory to serve those guests came to 147,238. And those visitors brought money: gaming revenues on the Strip and Downtown alone amounted to a cool $7.2 billion. That didn’t include food, drinks, shopping, entertainment, and other stuff.

As Las Vegas Airbnb property management professionals, we consider these figures a mixed blessing – because while the opportunity for homeowners is excellent, the competition is fierce.

On Airbnb, your Las Vegas vacation rental property obviously competes with other rental properties. But the competition doesn’t end there. Many Airbnb users compare private vacation rentals to hotel-owned properties. So, if your property is located within walking distance of, say, the Vdara, among many prospects, you may be competing against that hotel brand. But nail Airbnb property management and you’ll not only compete against the best of the best – you’ll win more than your share of business.

We’ll reveal what’s needed to make that happen and beat your competition at every level – including top hotel brands. But before we do the big reveal, we need you to promise not to become unsettled when you see everything involved. At the end of this post, we’ll reveal how to get it all done with minimal effort. Promise? OK, here goes.

For starters, optimal Airbnb property management means optimizing your property’s exposure. That means not simply relying on Airbnb to get the word out on your property’s availability. Yes, Airbnb is a vital tool in your vacation rental property management mix. But it’s by no means your only tool. Your property should be listed on 50+ sites. Each listing needs to be expertly written and take advantage of each site’s characteristics, to attract the maximum number of prospects. Photography should be shot by a professional experienced in making properties like yours look inviting.

But successful Airbnb property managers know vacation rental optimization doesn’t end there. Inquiries from prospects and requests from renters need to be handled promptly, accurately, and completely. If not, your ratings take a hit.

Rates you charge renters shouldn’t be static and should be optimized daily. Your property must stay consistently stocked with basic necessities. And it should be very clean – because thorough Airbnb cleaning with every turnover is a key contributor to high ratings. Renters expect cleanliness of vacation rentals to exceed their efforts at home and be on par with cleanliness found in well-run hotels. You also need to know when to make the right improvements to that existing vacation rental property. And if you’re in the market to buy another vacation rental, you should have a clear understanding of your potential return on investment before you buy.

Now, if all this seems beyond your own capabilities, we have good news. Many owners of Las Vegas vacation rentals find it highly cost-effective to use a full-service Airbnb property management company. We’re One Fine Flat, a leading Airbnb property management service headquartered in Las Vegas. We make it surprisingly easy for property owners to optimize earnings while avoiding common (and costly) mistakes.

Everything we’ve listed in this post can be handled by us, so you largely sit back and collect an electronic deposit each month. In short, we make it a breeze for you to relax and enjoy the owner’s life. Get more details on optimizing your vacation rental opportunity by downloading our guide, Capitalizing on the Vacation Rental Boom: 8 Keys to Success.