3 Vacation Property Managers in Walla Walla, WA 99362, USA

About the Walla Walla Short-Term Rental Market

Walla Walla, Washington, is a thriving destination for wine enthusiasts and outdoor adventurers alike. With its picturesque vineyards, charming downtown, and proximity to stunning natural landscapes, it's no wonder that the city has become a popular choice for short-term vacation rentals. The Walla Walla short-term rental market has experienced steady growth in recent years, driven by the increasing popularity of the region as a tourist destination.

According to data from AirDNA, Walla Walla currently has over 350 active short-term rental listings on platforms like Airbnb and VRBO. These rentals offer a diverse range of accommodations, from cozy cottages to luxurious estates, catering to a wide variety of traveler preferences. The market has seen an 8% increase in active listings over the past year, indicating a growing demand for vacation rental options in the area.

Performance Benchmarks for Walla Walla Vacation Rental Managers

Walla Walla's short-term rental market has demonstrated strong performance metrics, with vacation rental managers reporting an average occupancy rate of 48% and an average daily rate of $350. This translates to an average monthly revenue of $36,394 per rental, according to AirDNA data. When comparing the performance of Airbnb and VRBO listings, the data shows that Airbnb rentals in Walla Walla have a slightly higher occupancy rate of 50%, while VRBO listings average 46% occupancy. However, VRBO listings command a higher average daily rate of $375, compared to $325 for Airbnb.

The revenue per available rental (RevPAR) in Walla Walla has also seen a 6% year-over-year increase, reaching an average of $164.3. This metric provides a comprehensive view of the market's performance, taking into account both occupancy and pricing. For more detailed information on the Walla Walla vacation rental market, please refer to the Market Overview section.

How Competitive is the Walla Walla Property Management Market?

The Walla Walla property management market is relatively competitive, with a mix of established players and newer entrants. According to our research, the market is currently dominated by a few key players, including Walla Walla Vacation Rentals, LiveLikeItsYours, and Gala Realty Group. These companies collectively manage over 85 vacation rental properties in the area, accounting for a significant portion of the market share.

However, the market has also seen the emergence of smaller, boutique property management firms, such as Evolve and Property Management at Slate & Hearth, which have been able to carve out their own niche by offering specialized services and personalized attention to their clients. The low barriers to entry in the vacation rental industry have also led to a steady influx of individual property owners managing their own listings, further contributing to the competitive landscape.

Key Players in the Walla Walla Rental Market

Walla Walla Vacation Rentals is the largest property management company in the area, with a portfolio of over 60 vacation rental properties. The company has been in operation for several years and has established a strong reputation for its exceptional customer service and attention to detail. LiveLikeItsYours and Gala Realty Group are two other prominent players, each managing around 12 properties in the Walla Walla region.

Evolve and Property Management at Slate & Hearth are two newer entrants to the market, but they have quickly gained traction by offering unique services and a personalized approach to property management. Evolve, in particular, has been able to leverage its national presence and technology-driven platform to attract a growing number of Walla Walla property owners.

Overall, the Walla Walla vacation rental market is a dynamic and competitive landscape, with a mix of established players and innovative newcomers vying for a share of the growing demand for short-term accommodations in the region.