Short-term rentals can be categorized, at least at a surface level, as the “easiest” investments of 2021 and 2022. With low interest rates and a surge of post-pandemic tourism, new hosts were buying homes for cheap monthly payments, throwing some furniture in them, and making a six-figure return within a year of owning just one property. Naturally, this led more and more hosts to start building bigger vacation rental empires, buying as many properties as possible and inflating prices as a result. But, the boom in BnBs caught on quickly, and more investors began tackling the same strategy. Before long, there were more short-term rentals than ever, but the same number of guests occupied them. Now, short-term rental hosts are facing lower occupancy as they struggle to compete over which properties will get which guests. So, is this the end of the short-term rental industry, or is the data showing something completely different? We brought on Jamie Lane, Vice President of Research at AirDNA, to give us a glimmer of hope. Jamie knows short-term rental data better than anyone else. He knows which markets are growing, which are declining, which amenities get you the highest ROI, and why last-minute bookings aren’t a bad thing. He gives us a deep dive into what’s affecting the short-term rental market as a whole, whether it’s on a decline, and what hosts can do to beat out the competition when trying to fill their listings. 00:00 Intro 05:36 Quick Tip 06:24 2023 Short-Term Rental Predictions 10:48 Short-Term Rental Supply and Demand 22:01 Best Vacation Markets 26:13 The Bright Side of Regulations 29:13 A Boost in Last-Minute Bookings 33:13 Are the Big Cities Back? 33:43 The Recession's Impact on STRs 40:47 Where Is AirDNA Getting Their Data? 43:25 Tips for Hosts in 2023 54:11 Connect with Jamie! ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Grab Some BiggerPockets Merch: https://bit.ly/biggerpocketsswag ~~~~ Find an Investor-Friendly Agent in Your Area: https://www.biggerpockets.com/agent/match?utm_source=owned_media ~~~~ Hear More from Tony on the “Real Estate Rookie Podcast”: https://www.biggerpockets.com/podcasts/real-estate-rookie?utm_source=owned_media ~~~~ Use the BiggerPockets Airbnb Calculator: https://www.biggerpockets.com/airbnb-calculator?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Try AirDNA Today: https://www.airdna.co/biggerpockets ~~~~ Connect with Jamie: Twitter: @Jamie_Lane or https://twitter.com/jamie_lane Podcast: https://podcasts.apple.com/us/podcast/str-data-lab/id1648542434 ~~~~ Connect with Rob (Robuilt) on YouTube, Instagram, TikTok, and Twitter: YouTube: https://www.youtube.com/c/Robuilt Instagram: https://www.instagram.com/robuilt/ TikTok: https://www.tiktok.com/@robuilto Twitter: https://www.twitter.com/robuiltchannel ~~~~ Connect with Rob and Tony on BiggerPockets: Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Follow Tony and BiggerPockets on Instagram: @tonyjrobinson or https://www.instagram.com/tonyjrobinson/ @biggerpockets or https://www.instagram.com/biggerpockets/ Episode 712 Show notes at: https://www.biggerpockets.com/blog/real-estate-712?utm_source=youtube&utm_medium=description&utm_campaign=none #biggerpockets #realestatepodcast #biggerpockets712