Seasonal living used to be – hey, I live in my house, and once I’m fed up and want a change, I’ll go to my cabin by the lake and enjoy my time there in peace and quiet, until either the weather normalizes, or my stress levels go down. Then, and only then, do I go back to my house and resume what was before.
During the COVID pandemic, all of that changed. Why? Well, it’s this little thing called ‘remote work’ which became immensely popular. And even though the pandemic is long gone, remote work stayed. Not only did it stay – it thrived and became the go-to type of work compared to on-site working.
Because of this, those getaways to your lake stopped making sense because suddenly everyone wanted that experience, and it made so much more sense for you to rent out the place for all the emerging entrepreneurs that weren’t tied to any particular fixed location.
So, if you’re one of those entrepreneurs, then that glamping tent, a cabin in the woods, or even that lakeside retreat could easily become your new work base.
Let’s see how you can make good use (and a lot of them) of owning these types of properties, because the coming customers aren’t showing any signs of slowing down.
Seasonal Living Market
The number of people who are looking for places that won’t tie them down permanently. It’s to be expected. With people able to work easily over the internet, there are few benefits to working in person.
This way, you’re able to live in one place for a few months, then move on to another ‘base of operation’. And it can even be an impulsive decision. As long as the internet’s fine, you’re good to go.
A huge factor for this is housing costs, which keep on rising (in some places more than in others), but it also has to do with people wanting to experience different things. And it also has to do with a lot of young people feeling that owning a home today is impossible. High tuition that they need to pay off, then there are a lot of people working in McDonald’s (and similar) after finishing college, credit scores/ratings aren’t that good, and as we’ve already mentioned, house costs are ludicrous.
Short-term seasonal options seem to be ‘the way’.
And on top of all that, today, travel is no longer just about sightseeing. It’s also about wellness and experiences. People want yoga retreats and weekends where they feel connected to nature. This is the reason why we’re seeing so many eco-pods and movable cabins next to ski chalets and beach houses. Millennials in particular are leading this trend, but retirees and hybrid workers also play a big role.
Seasonal living isn’t just a holiday anymore; it’s a lifestyle.
How to Build a Business Around Seasonal Rentals
If you own a property in a nice location, that’s a first step, but it’s not all you need to turn it into a business.
Here’s how to make it work.
Find a Profitable Location & Property Type
You first need to decide on the place for your rental if you don’t already have one.
Beach towns and ski resorts are obvious choices because they’re full of tourists, but they also have more competition and higher prices. Quiet lakes and countryside villages can be just as profitable.
Once you’ve chosen the location, you also need to pick the type of property you want to invest in.
Traditional-type cabins/chalets are very popular, and it stays that way. Other types of properties that are on the rise – such as park model homes, yurts, tiny houses, and even eco-lodges, could also prove to be very good investments – not only because they’re being rented at an increased pace, but also because they stand out from the traditional picks.
As with any business, standing out is a good thing.
Operational Strategy
Even if you’ve gotten yourself a nice-looking property in a secluded location – the perfect recipe for success nowadays – it won’t do you any good if people don’t know it.
Sure, you’ve entered this business, but so did others, and what you need to do now is compete with thousands of other listings – regardless of how amazing your property is. Yeah, sure, once you get a couple of ratings and reviews down to the property, that’ll be taken care of, but until then, you’re still invisible.
To start things off, you can either create a full-blown dedicated website for the property (or multiple, if you’ve got more than one), and once it’s done and optimized, you may also want to invest in ads. Once you’ve got a couple of customers, you’ll become a happy camper.
Another route is going on platforms such as Vrbo or Airbnb. It has a huge audience, but there you’ve also got a massive competition to deal with.
Another route you can go for is social media, since it’s VERY popular among the user-base you’re trying to target anyway.
And don’t shy from using multiple approaches at once; don’t tie yourself down to one – especially at the beginning.
Finances and ROI
You have to take a good, long look at the numbers.
While it’s true that seasonal rentals can bring in a lot of money during peak times, they also have costs that don’t disappear just because the season is over. Your start-up investment will vary depending on the type of property, but you’ll also have ongoing expenses for maintenance, insurance, taxes, utilities, etc. Plus, seasonal properties usually need more upkeep because they’re exposed to weather and might end up sitting empty for part of the year.
You want to balance short bursts of high income with steady long-term management so your business stays profitable all year.
Conclusion
Seasonal living is a great business opportunity, but it also doesn’t look as if it’ll go away anytime soon.
There are a lot of things to think about if you want to venture there. A lot of money to be made – sure – but also you could easily end up with a fine (or multiple), unless you’re careful and plan things right.
You can approach this from multiple angles; it’s more about your preference and what’s realistically possible for you.
Whatever that may be, one thing is certain – the possibilities keep on growing.
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: OleksandrPidvalnyi
