Vacation Rental Investment Opportunities
By Rick Tobin
Image by from Pixabay
In 2019 , the travel and tourism sector represented 10.4 % of the global GDP ( Gross Domestic Product ), including vacation rental properties . Over the past 12 years back when the best known vacation rental company named Airbnb was formed in San Francisco , each consecutive year for vacation rentals had record growth . However , the current 2020 year has experienced some significant economic challenges related to the global pandemic designation that slowed down travel tremendously .
Airbnb is the best known vacation rental company in the world because it ’ s the largest . However , there are many other popular vacation space rental brands under the names of HomeAway , VRBO , Booking Holdings , Trivago , Booking . com , Homestay , and TripAdvisor .
Vacation rental ownership can become either a parttime or fulltime career for property owners if they are consistent with their marketing efforts , treat their guests fairly , and have affordable monthly mortgage payments and maintenance expenses . With today ’ s record low mortgage rates , many property owners may be able to refinance and reduce their mortgage rate by 2 % or 3 % while increasing their net cash flow by $ 500 or $ 600 per month , depending upon their loan amount .
Let ’ s take a look at some of the latest vacation rental data trends :
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