The short-term rental industry is booming, as countries reopen their borders and vaccination efforts grow.
But, the pandemic has changed quite a few things for the accommodation providers. To begin with, these rentals now have to cater to a lot more work-from-anywhere travelers who prefer tech-enabled, longer, and sustainable stays.
Luckily, amidst all this change, the one thing that remains consistent is the industry’s desire to adapt and stay relevant by harnessing the latest technologies.
Wondering what you should expect from this new market of nomadic, connected, and slow travel? Here’s a quick overview of the short-term rental industry trends in 2022:
Guest expectations for smart tech
Short-term rentals have become much like a second home to many travelers, with remote work as the new norm. This is why they expect the property to be teched-up, just like they are used to at home.
According to PointCentral’s recent Persona Research Study, 69% of guests at vacation rentals think that technology-enabled services, including smart home devices, are highly important.
And such demand isn’t confined to young Gen Z travelers alone. Even Baby Boomers are actively choosing rentals with tech solutions in place to make their lives easier.
This is why the adoption of smart home tech is a top priority for property managers in 2022.
Touchless access, smart voice-activated devices, noise awareness solutions, water monitoring technologies, and smart thermostats will all soon become standard considerations. And you will need to also include smart home luxury features, like Apple TV, Alexa, and smart speakers, to ensure that your property stays a hot favorite amongst travelers of all age groups.
Sustainability set to dominate the travel landscape
Sustainability will feature high on the agenda of short-term property owners due to the best practices and efficiencies that it brings to business operations. Also, today’s guests are eco-warriors who care a lot about environmentally responsible stays.
To deliver green guest experiences and increase operational efficiencies, consider equipping your smart home with:
- Mobile technologies that track energy usage and efficiency and intelligently automate the management of HVACs, lighting, and other electrical fittings to deliver big savings on energy costs
- Water sensors that monitor usage and suggest ways to minimize consumption of water
- Predictive analytics technologies for maintenance that will ensure that your systems always run at maximum efficiency
All of these proptech solutions can work together to ensure a smaller carbon footprint for your property.
Appetite for domestic travel
Growth in domestic travel is set to rise, at a time when there is so much uncertainty around international travel restrictions and travelers are seeking greater safety and home comforts.
Thus, short-term rental owners should look at attracting domestic leisure travelers, business travelers, and digital nomads to boost occupancy rates.
Also, as people are booking short-term rentals for workcations more than ever before, vacation rental property managers need to be better prepared for longer stays.
The short-term rental marketplace holds a lot of promise as we look to 2022. And tech innovations are driving most of it.
You will find that future-forward property managers have already been innovating at pace.
Over the past 18 months, they have been adopting new processes and smart technologies to accommodate evolving guest demands and deliver efficient and cost-effective property operations.
The smart tech rental boom is here. Are you ready to upgrade your property’s tech stacks? Contact us to find out more.