7 Vacation Property Managers in Memphis, TN, USA

About the Memphis Short-Term Rental Market

Memphis, Tennessee is a vibrant city that has seen a surge in popularity as a vacation destination in recent years. Known for its rich musical heritage, mouthwatering barbecue, and historic landmarks, Memphis has become a prime location for short-term vacation rentals. The city's thriving tourism industry, coupled with its unique cultural offerings, has made it an attractive option for travelers seeking an authentic Southern experience.

The Memphis short-term rental market has experienced significant growth, with a rising number of homeowners and investors capitalizing on the demand for vacation accommodations. From charming historic homes in the heart of Midtown to modern high-rise apartments overlooking the Mississippi River, the city offers a diverse array of rental properties catering to a wide range of traveler preferences.

Performance Benchmarks for Memphis Vacation Rental Managers

According to data from Airbnb and VRBO, the average nightly rate for a Memphis vacation rental is $150, with an average occupancy rate of 70%. This translates to an average annual revenue of $45,000 per property. However, top-performing vacation rental managers in the city have been able to achieve even higher occupancy rates and nightly rates, resulting in annual revenues exceeding $60,000 per property.

The Memphis vacation rental market has also seen a significant increase in demand for larger, multi-bedroom properties that can accommodate groups and families. These larger units often command higher nightly rates and experience higher occupancy, making them an attractive investment for property owners. (For more detailed market data, please refer to the Market Overview section.)

How Competitive is the Memphis Property Management Market?

The Memphis vacation rental management market is highly competitive, with a growing number of local and national companies vying for a share of the market. Some of the key players in the Memphis rental market include:

• Host Memphis - A locally-based, mother-daughter team offering comprehensive vacation rental management services, including property setup, housekeeping, and guest support.
• PMI Bluff City - A franchise of the national Property Management Inc. (PMI) brand, providing a full suite of vacation rental management services in the Memphis area.
• Awning - A national vacation rental management company with a dedicated Memphis market presence, offering services starting at 15% of revenue.
• PropertyPeak Hosting - A Memphis-based short-term rental management company specializing in Airbnb and vacation rental hosting.

These companies, along with several other local and regional players, offer a range of services, including property marketing, guest communication, housekeeping, and maintenance. The competitive nature of the Memphis market has driven these companies to continuously improve their offerings and provide exceptional service to property owners and guests alike.