Vacation rentals most often offer short-term stays, but there’s a growing market for long-term stays as well. In this slideshow, We’ll also cover the pros and cons of allowing longer stays, and then we’ll address getting started with long-term stays at your vacation rental.
2. What Is A Long-Term Stay?
● Stay that lasts longer than
one month
● Can vary from state to state
3. Pricing for Long-Term Stays
● Weekly and monthly rates,
rather than daily
● Can also offer lower daily rate
for long-term stays
● Consider additional
electricity and water use
when setting your rates
4. Amenities for Long-Term Stays
● Family-friendly and
pet-friendly properties
● Stable, high-speed internet
● Several workspaces
● Fully-stocked kitchen
● Washer and dryer
5. Potential Guests ● Workationers/people
traveling for business
● Families building a home in a
new city
● Families from urban
locations
● Students completing
internships
● Snowbirds
● People taking care of aging
parents
● Guests planning extended
vacations
● Past guests
6. Benefits of Long-Term Stays
● Fill your calendar during the
off-season
● Less time and effort spent on
marketing, screening,
check-in, and cleaning
● More consistent cash flow
● Can charge more for the
security deposit
7. Drawbacks of Long-Term Stays
● Lower overall revenue
● Harder to block off dates for
personal use
● Less ability to adjust prices
● More wear and tear
● Less control over the
property
8. Getting Started with Long-Term Stays
● Add weekly and monthly
rates to your listings
● List your property on sites
that focus on long-term stays
● Evaluate your amenities
● Add different resources to
your welcome binder