Market Leaders
Cape May
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Cape May, New Jersey is a popular vacation destination known for its well-preserved Victorian architecture, beautiful beaches, and rich history. As a result, the short-term rental market in Cape May is highly competitive, with a steady influx of tourists throughout the year, especially during the peak summer months. Vacation rental properties in Cape May are in high demand, offering investors and property owners the opportunity to generate reliable rental income.
According to data from VRBO and Airbnb, the average daily rate (ADR) for vacation rentals in Cape May is $300-$500 per night, with occupancy rates ranging from 60-80% during the peak season. The average length of stay is typically 3-7 nights, with many visitors opting for week-long or extended weekend getaways.
Vacation rental managers in Cape May need to be adept at dynamic pricing, adjusting rates based on factors such as seasonality, events, and demand. They must also excel at marketing and distribution, ensuring their properties are listed on the right channels and optimized for visibility and bookings.
(Refer to the Market Overview section for more detailed performance data and benchmarks for the Cape May vacation rental market.)
The Cape May vacation rental market is highly competitive, with a large number of property management companies vying for a share of the market. These companies offer a range of services, including marketing, booking, housekeeping, maintenance, and guest services.
Some of the key factors that contribute to the competitiveness of the Cape May property management market include:
Some of the key players in the Cape May vacation rental management market include:
These are just a few of the key players in the highly competitive Cape May vacation rental management market. Property owners in the area have a wide range of options when it comes to selecting a professional management partner to oversee their short-term rental investments.