As property managers along the scenic 30A coastline, we’ve come to understand that staying informed about market trends and local dynamics is crucial for success. Whether you’re setting rental rates, positioning your property, or planning for the busy season, keeping a pulse on the latest trends is vital.
But with so many tools and platforms offering data on short-term rentals, it can be overwhelming to sift through all the information. And let’s be honest — much of what we find isn’t always relevant to vacation rentals in the 30A area.
With two decades of experience managing vacation properties in 30A, Florida, I Love 30A Property Management has mastered the art of short-term rentals. And we’re not shy about sharing our rental management secrets. In this blog, we’ll share some key stats and trends specific to the 30A market, along with valuable advice on how to use this knowledge to stand out amidst fierce competition.
Deciphering the Noise
In the short-term rental market, it’s crucial to cut through the noise and focus on what really matters. Take Airbnb’s recent emphasis on promoting stays of 30 days or more, for example. While the platform claims this is their fastest-growing segment, does that trend actually apply to 30A? Not exactly. Here, our guests typically book shorter stays.
Similarly, Airbnb’s push for private room rentals might work well in urban settings, but it’s less relevant in the 30A vacation rental market, where full-home rentals are the standard. This serves as a reminder that not all trends are universal.
So, what are the trends that truly matter for 30A?
Key Statistics Shaping the 30A Market
Let’s take a look at some of the most relevant statistics that define the 30A vacation rental market today:
Visitors are willing to pay a premium. As of July 2023, the average daily rental rate in the 30A area stands at $753, marking a significant 42% increase from $530 in 2019. This hike reflects the area’s growing popularity and the willingness of visitors to pay a premium for the unique 30A experience.
But there are more properties available out there. The current occupancy rate for vacation rentals in the 30A area is 64%, a slight decline from 72% last year and 68% in 2019. This dip indicates a potential market saturation, with more properties available and thus, more competition among owners.
Being ready for the peak season makes all the difference. June, July, and October are the prime months for rentals, with a significant portion of annual income generated during these periods. If you own a rental property in 30A, ensuring your home is in top shape for these months can make a big difference in your annual revenue.
Our market is still very lucrative. Depending on the size and location of the property, some owners report annual rental incomes ranging from $70,000 to $114,700. This range highlights the lucrative potential of owning a vacation rental in 30A, particularly for those who invest in their properties and manage them effectively.
But there’s a growing market Saturation: As mentioned, there’s a growing perception of oversaturation in the rental market, leading to increased competition. This makes it more important than ever to differentiate your property from the crowd.
Investment returns are solid. Many owners are content if their rentals cover hard costs such as mortgages and utilities, with a focus on long-term equity gains rather than immediate profits. In the long run, owning a rental property in 30A is viewed as a solid investment, particularly given the area’s enduring appeal.
Rental growth means more competition. The number of available rental units in the South Walton Beach communities has grown by 6.7% recently. While this growth offers more options for visitors, it also means more competition for owners.
Visitors are still flocking here. Nearly 2.5 million visitors flocked to the area during the summer months, driving strong demand for vacation rentals. This influx of tourists is a key factor in the sustained success of the rental market in 30A.
Long-term outlook is positive. Despite current challenges, the long-term outlook for vacation rentals in 30A remains positive, driven by the area’s unique charm and increasing popularity. The key is to adapt to the evolving market conditions and continue offering exceptional experiences to guests.
Why Do People Choose 30A Beach Rentals?
The Appeal of 30A
So, why do travelers flock to 30A? Beach vacation rentals in this area are particularly popular among those seeking the perfect blend of luxury and relaxation — a serene escape from the hustle and bustle of daily life.
Unlike urban or suburban short-term rentals, beach properties in 30A offer stunning ocean views, easy access to pristine beaches, and a vibrant community atmosphere that enhances the vacation experience.
Imagine a beachfront home with a private pool, offering a tranquil and luxurious retreat just steps from the water — that’s the 30A allure.
To make your rental stand out, it’s essential to offer more than just a place to stay. Guests are looking for unique experiences, and creating a memorable atmosphere can set your property apart from the competition.
Crafting the Perfect Coastal Experience
In 30A, a well-crafted, coastal, Instagram-worthy decor can significantly help you stand out from the competition. Pictured: The living room at PCB Dolphin Cove.
Coastal, Instagram-Worthy Decor
While the stunning beaches of 30A are a natural draw, the interior decor of your rental plays a crucial role in attracting guests. Beach vacationers often seek a light, airy, and modern ambiance that reflects the coastal vibe of 30A. Consider moving away from outdated or overly themed decor and embrace a fresh, contemporary style that still evokes the relaxed beach lifestyle.
Most guests are looking for something extraordinary, so a well-designed, comfortable property with all the modern conveniences will likely see higher success. Properties that blend coastal charm with modern decor, fully-equipped kitchens, spa-like amenities, and enjoyable extras like outdoor showers or fire pits tend to perform well.
Maximizing Your Outdoor Spaces
Outdoor spaces are a huge selling point for beach rentals, so take full advantage of any exterior areas, whether it’s a deck, porch, or rooftop. Well-designed outdoor spaces can be a major draw, especially in a beach setting where guests want to spend as much time as possible enjoying the fresh air and ocean views.
Whether you have a simple patio or a lavish pool area, ensure that your outdoor spaces are inviting, comfortable, and well-maintained. Adding amenities like a fire pit, hammock, or outdoor kitchen can turn a standard outdoor area into a major attraction for potential guests.
Beyond Decor: Offering Impressive Amenities
Tailoring Amenities to Your Property
While decor helps your property stand out, amenities are what make a stay memorable. Investing in top-notch amenities can secure more bookings and increase revenue. Larger properties, in particular, should offer a range of amenities to appeal to diverse groups of travelers.
For one-bedroom rentals, consider adding a private hot tub as a luxurious touch. Two or three-bedroom properties might benefit from entertainment features like a multicade or pool table, while larger homes could truly impress guests with a media room, game room, or both. Remember, the more you can offer, the more appealing your property becomes.
Creating Instagrammable Moments
In today’s social media-driven world, creating Instagrammable moments within your property can be a game-changer. Whether it’s a stunning sunset view from the balcony, a cozy reading nook, or a beautifully designed outdoor space, these photo-worthy spots can attract more guests and encourage them to share their experiences online, further boosting your property’s visibility.
Enhancing Guest Experience with Technology
Embracing High-Tech Solutions
High-tech amenities can significantly enhance the guest experience. Smart TVs, Roku players, and high-speed Wi-Fi are now expected, as they allow guests to log into their own accounts and stay connected. If you’re targeting eco-conscious travelers, consider installing EV chargers. Additionally, implementing contactless check-in with smart locks and offering digital guidebooks about your rental and the area are becoming industry standards and can make a big difference in guest satisfaction.
Looking Ahead: How to Stay Competitive
Adapting to Local Trends
Keeping an eye on local trends, adapting when needed, and delivering an exceptional guest experience is the best way to stand out in the 30A rental market. Yes, the competition is tough, but with the right strategies, your property can shine brightly among the rest.
In the ever-evolving landscape of vacation rentals, staying ahead of the curve is key. By understanding the trends that matter, enhancing your property’s appeal, and offering unforgettable guest experiences, you can ensure your rental stands out in the competitive 30A market.
Whether you’re a seasoned property owner or new to the vacation rental game, the 30A market offers immense potential. With the right approach, you can turn your property into a sought-after destination that guests will love returning to year after year.
Find more effective tips for managing your beach rental property in 30A.
Need more property management insights? Stay tuned for our upcoming blogs or contact us — we’re more than happy to share our expertise with you!