Austin Vacation Rental
The population is surging.
The Austin-Round Rock metropolis is home to almost 2.2 million people. Located in Travis County, the city had already been #1 in population growth for the past decade.
It’s been estimated that 100 people move to the city every single day. But from mid-2019 to mid-2020 alone, Austin opened the door to more than 67,000 new residents. That’s around 180 migrants per day!
The job market is booming.
The New York Times says Austin has bucked the pandemic and now has the hottest job market in the country. According to non-profit organization Austin Chamber, Metro Austin’s mere 2.5% decline in jobs from September 2019 to September 2020 made it the best-performing city among the country’s biggest metro areas in response to Covid-19.
Metro Austin has also reportedly regained 96% of last year’s pandemic-related job losses. Some 77% of the leisure and hospitality jobs lost in March and April of 2020 have already returned.
Some 35 newly located companies announced 9,790 new jobs created in late 2020, many of them in the tech industry.
The city is already home to huge companies like Whole Foods, 3M, AT&T, Facebook, Google, eBay, and Vrbo. But it has also become a new hub for tech companies, big and small.
If you are hoping to get something like that for your portfolio, then connecting with Nomad STR will be the best. We have experience helping our clients find, renovate, and manage the property well. There are numerous advantages to trusting us for support. With a good property management company, you will have the ease and freedom to travel globally without having to worry about the property. The management company would be there to make the job absolutely easy and comfortable for you.
Over the years, we have been helping interested people make an investment in the right property and get better returns from the same. We have established ourselves as the best vacation rental company that always aims to provide quality assurance. Take a step now and connect with us. We will be there to help you research the available properties and then choose the one that would be best suited for your investment goals.
Best Short Term Vacation Rental in Austin
However, it is important to understand the risks and other considerations that come with owning a short-term rental property. Over the years the number of homes listed on marketplaces like airbnb and VRBO has exploded which has led to an increased amount of competition in this area. Traditional single family homes without the right locations, amenities, professional photos, and online marketing will struggle as supply outpaces the demand in certain markets. You need to make sure and do your own due diligence when evaluating a property and the market as a whole when looking for short-term rentals.
At NomadSTR, we can help seasoned investors and investors looking to get into the short-term rental market space evaluate these markets using our own internal technologies, data, and expertise to ensure they are making a good investment. Once we help you find these investment properties in markets we specialize in we can also assist with the full on-boarding process of your short-term rental to the marketplace! We have partnerships with realtors who are industry experts in the buying process, interior designers who can make your listing stand out, and a full-service management company so that the investment is a completely passive tool for you as the owner!
How to Choose The Best Vacation Rental ?
Once you zero in on a prospective market for short-term rentals, you really need to have a firm understanding of the location and tourism in the area. For instance, picking homes or condominiums close to downtown in Austin will generate a better return than homes further outside the city. This is because groups of people visiting will likely want to remain close to downtown to visit the popular restaurants, bars, events, and sites located within the city.
Once you have an idea on the location picked out within a market, it’s important to narrow down the criteria that you’re looking for in the property. Are you looking for something that will be able to rent to larger groups of people with 4+ bedrooms? Or are you limited by a certain budget? Understanding this criteria before you start your search will limit the number of homes you have to look at and shorten the process.
It’s also important here to understand the laws and regulations that may be in place within this market. For instance, are there city zoning laws that prohibit short-term rentals in certain zones of the city?
Conclusion
Austin vacation rentals continue to flourish as more and more companies and people flock to the city and demand for shorter stays and groups that look for accommodations outside of traditional hotels continues. Even with these positive factors, investors should still be careful and work with trusted partners who understand the market and can provide end to end services for their investment. NomadSTR is capable of helping our investors identify a market, find a property, contract on that property, design and furnish that property, list it on the short-term rental online marketplaces, and manage the day to day activity of that property all while maintaining a close relationship and constant communication with our investor. We are happy to help and look forward to working together!
Short-Term Rental Profit Calculator