Short-Term Rental Management Services
Date: July 13, 2022
Short-term rental property, also referred to as vacation rental property, can generate higher returns and be more profitable than long-term rentals, especially in areas where tourism is popular. Tourism is the second largest industry in Arkansas and vital to the state’s economic prosperity.
Montgomery County, Arkansas has a residential population of under 10,000 with around 100,000 annual visitors, amounting to roughly 10 times the number of visitors as full-time residents. The county benefits from tourism most when visitors choose to spend their travel dollars locally. After transportation, lodging and meals eaten in restaurants account for the bulk of typical vacation expenses.
While COVID-19 had a significant impact on tourism, 55 percent of adults in the U.S. are planning a getaway of at least one night before the end of 2022, according to a survey from AAA Travel.
Montgomery County, Arkansas currently has approximately 150 short-term rental properties in addition to traditional resorts and motels, according to AirDNA.
For a property to be considered a short-term rental, it is typically rented from one day to one month. This generally gives owners more control over how often their property is booked, so that they can still use the property for their own personal use throughout the year as they please.
To keep a short-term rental business running, property owners must complete regular tasks and stay on top of operational logistics. They must advertise the rental, manage communications with guests, oversee the booking calendar, clean the property between guests and attend to guests’ needs and any issues that may arise. They must ensure any local laws and regulations are followed, that they pay any necessary taxes and collect payments from guests.
With all of the tasks that come with running a short-term rental business, property owners wishing to keep their investment as passive as possible may consider turning to a property management company.
Ouachita Real Estate now offers Short-Term Rental Management Services to help property owners with these tasks. Contact Edwenna Rowland for details.
One of the first properties managed by Ouachita Real Estate is a vacation rental home in Story, Arkansas billed as a “Peaceful Country Getaway”. The newly-built, 2 Bedroom, 1.5 Bathroom home features a kitchen guests can really cook in with full-size kitchen appliances; refrigerator, microwave, and gas range, plus a large farmhouse sink for cleaning up! A kitchen island with seating plus a separate dining area. The living room has an electric fireplace, full size couch, and loveseat. The home offers large front and back porches and a large yard. Many outdoor adventure opportunities are available nearby including fishing, swimming, and boating at Lake Ouachita, and, for hiking and mountain biking enthusiasts, the Ouachita National Recreation Trail and Womble Trail. Multiple quartz crystal mines are also located nearby. Call Ouachita Real Estate 870-867-2215 for rates and availability!