In the last few years, we’ve seen a complete shift in the short term rental industry. With the upcoming Big Game being hosted at State Farm stadium,  many short term rental owners are banking on the February weekend bringing in the big bucks. With many owners feeling the slowing in the vacation rental industry, they are hoping these big events  will help bring in the bookings they may have been lacking. But are we going to see the demand we did the last time Super Bowl was here? And is it worth it to stick it out? 

Super Bowl Crowds

We aren’t saying the super bowl isn’t going to bring in a lot of tourists looking for a space to rent. We just want to make sure you to make your decision based on what you need and want from your short term rental investment. Many so-called “experts” are not acting in good faith or seeing the big picture. If you entered into this industry just to make money, perhaps it is time to consider your next moves on your investment. The home owners we typically work with who stick it out long-term are the ones who bought their property for personal enjoyment, along with the benefit of making some extra income. 

Big Events.

Banking on these big weekends for big payouts can be stressful.  A few big weekends aren’t going to cover a year of short term rental expenses and, this year we have two major events on the same weekend. In addition to the Super Bowl, the Waste Management Open will also be held on that same weekend. If one of these events had been held on a different weekend, it could have meant additional revenue. Now the market will be split between Scottsdale and the West Valley. 

One weekend, two events.

When the Super Bowl came to Arizona in 2015, the West valley was not the size it is today. According to the World Population Review, Glendale’s population is currently sitting at about 252,000. In 2014-2015, the population of Glendale was around 230,000 people. Scottsdale may be experiencing a market oversaturation,  but other cities are growing in the industry, and Glendale is no exception.  Hotels, resorts and other vacation rentals are filling that gap from 2015. The short term rental industry alone has grown so much in the last few years that visitors aren’t having much trouble finding a place to stay at a decent rate. It’s a much more competitive market. 

So what should I do?

Always do your research, educate yourself, and talk with an expert or two and make the decision that is right for you! Your reasons to sell or stay will be different from someone else. Don’t worry about what everybody else is doing and focus on what’s best for you and your family. 

Think you’re ready to sell your short term rental? We’re a locally owned and operated agency in the Phoenix Metro area, and we know the market inside and out. Contact one of our agents today! 

Or maybe you just want some help managing your current short term rental? We have over 15 years of experience in vacation rental management. From bookings to guest communications to cleaning and maintenance and marketing, we do it all!  Here is what you can expect from us!