Autumn 2024 - Southern Ontario Short Term Rental Update

10/3/2024

4 Bedroom Vineyard View Property In St. Catharines With Hot Tub & Sauna

Welcome to our Q3 Autumn 2024 market update. In this edition, we review the short term rental market performance for Q3 of 2024 and how it compared to Q3 of 2023. We also dive into things you can do to help outperform the market throughout this autumn & winter season.

Additionally, we take a look at the Travelluxe fall maintenance checklist and highlight some of the things our skilled maintenance team helps home owners with this time of year. We're also excited to showcase some of the stunning new listings now under our management, highlighting some of the incredible communities we service.

Whether you're a seasoned host or just getting started, our market update newsletter provides the information you need to thrive in the short-term rental industry! Share it with your friends, family, and others who are interested in owning a short term rental.

Q3 2024 Southern Ontario Market Update

Market Performance Update for Q3 2024 compared to Q3 2023:

Occupancy: There was an increase of 2.04% in average occupancy.
Revenue: Total revenue saw a slight decrease of 1.16%.

This indicates a slight growth in occupancy, while revenue remained largely stable with only a small decline, suggesting a balanced performance despite market fluctuations.
**Data analyzed includes all 2+ bedroom rentals from Niagara Falls to Burlington.**

How To Stay Ahead Of The Market This Autumn & Winter

One of the best ways to stay ahead of your local market is to make your property stand out from the rest! In Southern Ontario the Fall & Winter months are usually a little slower than the rest of the year so its even more important to stand out.

A great way to stand out is to offer higher end winter amenities that most properties don't have. Some examples of these are hot tubs & outdoor saunas. These are very desirable amenities in the fall and winter months and are a great way to increase bookings and revenue. These amenities also have a great cash on cash return and in most cases they can provide a 100% return on investment in the first year!

Interested in adding a hot tub or sauna to your property before the cold weather hits? Contact Travelluxe today and we can connect you with reputable hot tub & sauna suppliers in the area. There are also options to finance these higher end amenities and in most cases 1 additional booked night each month can offset the cost of borrowing.

Fall Maintenance Checklist

As we get into the cooler weather, it’s time to start looking into fall maintenance. The Travelluxe maintenance team goes to our clients homes and completes the following steps for them in October.