After a sudden spike in popularity during the pandemic, vacation rentals are still seeing their heyday. Research suggests we can expect a 10% year-over-year growth rate in the vacation rental market as we head into 2025.
That growing demand is great for property owners, but it's not always easy to choose between vacation rental platforms. With so many available, how do you give your property the best chance to attract guests? Let's take a look at what to expect from some of the biggest platforms out there.
Airbnb
It's hard to beat the brand recognition and popularity of Airbnb. This industry giant boasts over 7 million active listings in more than 220 countries as of 2024.
This popularity is both a boon and bane for anyone hoping to list a property. With millions of users, it's possible to get many eyes on your vacation rental. However, the abundance of listings means that competition is stiff, and you may have to go above and beyond to make your property stand out.
There's no cost to create a listing. In terms of earnings, expect Airbnb to pocket between 3-16% of what you make, depending on the booking.
VRBO
VRBO offers vacation rentals in just under 200 countries, making the platform one of Airbnb's biggest competitors. However, with fewer monthly users than Airbnb, you may not get your property in front of as many eyes.
Like Airbnb, you don't have to pay to create a listing, though the site will take a 5% commission and a 3% payment processing fee. If you have a high-value property and plan to use VRBO enough, consider switching to the $499 annual subscription instead.
Booking.com
Once a staple for hotel bookings, Booking.com has branched out to vacation rental listings as well. The platform now boasts around 28 reported listings and has a huge global reach. Even better, the site's mix of hotels and vacation listings can help you draw the attention of hotel-seeking travelers who may not have considered a vacation rental before.
Listings are free on Booking.com, but the site charges a 15% commission per booking. Guests pay no extra fees for commissions, booking, or even cancellations, making this site a popular choice with travelers.
TripAdvisor
Like VRBO, TripAdvisor offers vacation rentals in just under 200 countries and has great brand recognition. Because users can visit TripAdvisor to search for destinations, experiences, restaurants, attractions, and more, you may attract travelers who stumble across your listing while researching their vacation.
Creating a vacation rental listing is free, but you should expect to pay a 3% fee to TripAdvisor with each booking. Hosts can also charge guests extra fees such as cleaning fees to make up the difference.
Listing a property also creates a listing on the TripAdvisor-owned website FlipKey, which can boost your visibility.
Find the Right Vacation Rental Platforms
Sifting through vacation rental platforms can feel like a chore, but weighing the benefits of each may make your decision a little easier. We hope the insights above help you consider the fees, popularity, and policies of each site!
If you're still on the fence, consider partnering with our full-service property management company. Here at PMI Premium Services, we have a wealth of experience listing and managing properties throughout the Fort Lauderdale area. To learn more, contact us at 954-931-1484 for a free consultation.
