If you don’t already own a space that would make a good rental, one of the first things to think about is finding a home to use as your vacation rental investment.

Identify and purchase a property (if you don’t already own one) Ensure you understand and comply with insurance and tax regulationsġ.Form a legal business entity to operate your rental business.Identify and purchase a property (if you don’t already own one).We’ll walk you through some of the steps you may need to consider to launch your new vacation rental business. What does it take to own and operate a short-term rental? A lot of work goes into any start-up, no matter the industry. That’s a number that’s likely to go up as tourism rebounds, which may increase occupancy rates and drive up short-term rental prices. The number of global international tourist arrivals more than doubled in January 2022, increasing 130% compared to the same period in 2021.ĪllTheRooms has reported that in 2021, North American Airbnb hosts each earned an average of $41,026. That growth is happening worldwide, as well. tourism is expected to increase in 2022, surpassing pre-COVID-19 levels by 6.2% and injecting nearly $2 trillion into the economy. If you own more than one property or have an extra room to spare, you might consider operating a vacation rental business like Airbnb or Vrbo Sharing homes is a booming business, as U.S.

Airbnb business for beginners