People now are looking for passive income opportunities and side hustles to achieve their financial freedom.
The money from the 9-5 jobs barely satisfies the needs. And you might try out different passive income ideas to increase the cash flow.
Renting out your unused properties on the best vacation rental platforms could be one of the best ways to build a passive income.
In this article, you'll get to know a few of the best vacation rental apps available in the market that can help you become a vacation rental owner.
Let's get started.
Top 5 Vacation Rental Apps in 2023
1. Airbnb
We all know what Airbnb is and what it does. They are the pioneer of online vacation rental platforms.
Airbnb streamlined and amplified the growth of the vacation rental industry.
Airbnb is said to have over 150 million users on its platform, which you can fully utilize to grow your side business.
Airbnb charges a commission fee from both host (3%) and guest (under 14.2%) for every booking made on the platform.
2. Vrbo
Vrbo [Vacation rentals by owner] is a part of the Expedia group, which offers stand-alone vacation homes.
You can list your property for free on Vrbo, and it's super easy to create your listing.
Vrbo's search filters are the ones that set them apart from other vacation rental apps out there in the market now.
Vrbo has two subscription options for hosts,
- They charge 8 percent for each booking made.
- Or an annual subscription fee of $499 upfront.
3. Booking.com
Booking.com was founded in 1996 in Amsterdam. Since then, it has grown as one of the popular vacation rental apps.
It has over 28 million listings and covers 141,975 destinations in 230 countries. Also, it is accessible in almost 40 languages.
Booking.com is super affordable, which makes it one of the best vacation rental apps of all time.
4. Flipkey
Flipkey is a subsidiary of TripAdvisor, which operates as an independent vacation rental marketplace. It offers a variety of rental options such as vacation homes, villas, beach houses, and condo rentals.
It has more than 300,000 listings. You can list your property for free in Flipkey, and you pay 3% of your guest's payment to them.
5. Expedia
Expedia is an online travel app owned by Expedia Group, an American online travel shopping company.
You can list your properties like private homes, lodges, BnBs, etc.
Expedia charges the hosts in two models,
- Hotel Collect
- Expedia Collect
Hotel collect is when the guest pays the rent directly to the host. In this case, the commission of 15% will be charged by Expedia.
Expedia Collect is when the guest pays the rent to Expedia, and then Expedia transfers the payment to the host charging a 20% commission.
How to Choose the Best Platform to List Your Property
There are a few things you can consider when selecting the best platform to list your properties on, to maximize your income and ensure a smooth experience for both you and your guests.
Let's take a look at these key factors to consider:
- Target Audience: Identify which platform attracts the type of guests you're targeting.
- Fee Structure: Compare the commission fees charged by different platforms.
- Ease of Use: Look for platforms with a user-friendly interface and support.
- Marketing and Exposure: Ensure the platform markets properties effectively and provides tools to enhance your listing.
- Search and Booking Features: Evaluate search filters, booking options, and instant booking support.
- Payment and Payout Options: Check if the platform supports multiple payment methods and offers flexible payout options.
- Customer Support: Consider platforms with 24/7 support and a variety of contact methods.
- Additional Services: Look for platforms that provide additional services like insurance, damage protection, and pricing optimization tools.
By carefully considering these factors, you can choose the app that best suits your needs.
You might also consider building your own vacation rental platform to gain financial benefits, such as eliminating third-party commission fees and scaling your vacation rental business by charging other rental owners and guests, similar to the top vacation rental apps.
Developing an app typically falls under these two options, such as custom development and a ready-made solution.
Wondering what a ready-made solution is?
It is a pre-built app solution that includes essential features and functionalities. Unlike custom development, you can purchase and launch it without developing it from scratch.
End Note
Exploring the world of vacation rental apps can open up exciting opportunities to boost your income and make the most out of your unused properties.
With platforms like Airbnb, Vrbo, Booking.com, Flipkey, and Expedia, you have a range of options to choose from.
These apps not only simplify the process of renting out your properties but also provide an efficient way to manage and market your business and help you ensure a steady stream of revenue.
So, take advantage of the tools and resources these platforms offer to maximize your earnings to grow your side business.
List your property today and join the community of successful vacation rental owners who are leveraging technology to achieve financial freedom.
Happy renting!