The world of OTAs is filled with short-term rental myths. Everything from higher crime rates to more frequent neighbor disputes can be, and often is, blamed on vacation rentals! As advocates of a safe and fair vacation rental industry, we know it’s possible to run your business in a responsible and ethical manner.
What Do We Mean by ‘Short-Term Rental Myths’?
According to the Merriam-Webster online dictionary, the word ‘myth’ is defined as “an unfounded or false notion.” Myths can be common views, old wives’ tales, superstitions, or just plain falsehoods.
Previously, we did a post on dynamic pricing myths where we explore all of the falsehoods associated with one of the most popular pricing strategies in the world!
The Most Commonly Heard Short-Term Rental Myths
Vacation Rentals like Airbnb Properties Cause More Harm than Good
For local communities, having a large number of vacation properties brings a certain level of dread. However, in the majority of instances, it’s unnecessary. While vacation rentals do represent a property that stands empty some of the year, they also represent a base for tourism.
Investment in the local area is always a benefit and vacation rental guests bring more spending power. Plus a higher likelihood to pay for the more tourist-centered activities, which might not be so popular with locals.
Local restaurants and shops are the most obvious beneficiaries, but it can also go far beyond that. National governments are more likely to invest money in communities that see high tourist traffic.
Vacation Rental Properties Destroy Neighborhoods
This one is pretty easy to debunk. Depending on the social landscape of your local area, it’s highly unlikely that vacation rental guests could ‘destroy’ a neighborhood. Airbnb recently made their party ban a permanent part of their code of operations and they take rule breaks very seriously.
Airbnb has even set up a hotline for the neighbors of Airbnb hosts to call if they suspect a party is going on in an Airbnb property close to them. What does that say about Airbnb as a company? Well, it says that it takes complaints seriously and wants hosts and neighbors to feel comfortable with a vacation rental property in the area.
Vacation Rental Properties are a Full-Time Job
Being a parent is a full-time job. So is saying up to date with the latest drama on Twitter. But by no means does owning (or operating) a vacation rental property need to be a full-time job. We live in a modern world. We are all able to enjoy modern inventions, and technology is one of the best ways to lighten your managerial burden.
Dynamic pricing services like DPGO can take your pricing strategy off your shoulders completely. Property Management Software can automate responses, send invoices, and manage your calendar. Remote access systems like smart locks also mean you don’t even need to be there when your guests check in/check out! You might not need all of the services on the market today, but the fact that they are there remains a sign that vacation rentals do not need to be full-time jobs.
The Vacation Rental Era is Ending Due to Government Regulations
Quite the opposite, actually. We won’t deny that governments are tightening their laws around short-term rentals, but by no means is the industry’s dominance coming to an end.
Governments are trying to put a lid on the industry, at least in their local contexts. Because vacation rental ownership is so profitable, naturally everyone wants a piece. Towns cannot operate without full-time residents, so local governments need to step in to keep the situation under control.
Most governments are simply asking hosts to register their properties and pay for special licenses. We’re also seeing a greater requirement for hosts to only rent their properties for 30 days or more. This is called ‘mid-term rental’.