Medium-to-Long Term Rentals
Anyone working in the vacation rental industry will be fully aware that we’re seeing an upward trend when it comes to medium to longer-term rentals. It’s no real surprise that this is the case considering that more and more people are now working remotely, plus, if guests are spending lengthier periods of time away from home, this helps to justify the air travel and any quarantine rules imposed on their return can also be worked into schedules more viably.
A New Travel Trend
Earlier in the year we published a blog discussing the significant increase in medium-to-long-term rentals across the Balearic Islands.
However, it is not just us at Privadia that have noticed this industry trend. As AirDNA discuss in a recent blog, the dynamics of travel have changed with more and more travellers now seeking medium and long-term stays. Statistics show that stays of over 7+ days have tripled as well as over 50% of the nights booked are for stays of over two weeks.
AirDNA’s data also evidences that the share for reservations made for over three months in the future has also been steadily increasing since early March, and statistics provided by Rentals United demonstrate an increase in demand for stays of 30 days and longer. There has also been an upsurge in bookings for remote locations, especially for luxury rentals.
Our enquiries for medium-to-long-term rentals have mainly been from clients who are looking to create a home away from home. In particular, we are currently seeing a lot of interest from those seeking an inspirational location and an office-ready villa for remote working.
Due to these medium-to-long-term rentals being available throughout the remaining months of 2020 and 2021, there are currently great prices available for booking earlier. If your client is seeking a luxury villa for a medium-to-long-term rental, there are plenty of great deals on the table.
There are a wide variety of benefits for your clients to book a medium-to-long-term rental, given the current circumstances. A longer stay means that the impact of the current two week quarantine rules (subject to change) are more palatable if guests are staying for a longer time period. Many who work remotely also prefer the idea of working from a luxurious villa in a remote location as opposed to working in their usual place of work i.e. city centre offices.
If you’re interested to learn more, Privadia currently has a wide variety of luxury villas available for medium-to-long-term rentals in Ibiza, Mallorca, Formentera and our latest destination Mykonos. Due to licensing laws in the Balearics differing on stays longer than 30 nights vs shorter term rentals, this also opens up a much wider range of property options.
Here’s a quick preview of some of the luxury villas with medium-to-long-term availability in Ibiza, Mallorca, Formentera and Mykonos…
Existing Travel Partners
If you’re already an approved Privadia Travel Partner, please contact your direct account manager for more information on the medium-to-long-term rentals.