**Seasonal rental by owner rates improve**

With the pandemic in the rear-view mirror short term rentals experienced a boom brought on by lack of supply and low interest rates.  The Federal Reserve has aggressively raised rates to try to curb inflation to its target rate of 2%.  However, in 2022 vacation rental nightly rates saw an increase of 7.1%.  Although the inflation was persistent the actions of the Federal Reserve are likely to cool the entire economy including the vacation rental market.  This is good news for both vacation rental hosts and potential guests. Another factor that will help to cool vacation rental prices is that many wealthy people purchased new short-term rentals over the last couple years.  This increased supply may mean that some sharing vacation rentals may go empty.

Additionally, many municipalities have passed new rules that target nightly vacation rentals making it difficult to rent for short stays like one night or one week.  At SnowbirdSeeker rental hosts easily comply with regulations because most renters are looking to book for the month or for the whole season.  This has many advantages because the host does not have to continually manage new reservations and other property management tasks.  Once the place is booked the host can prepare for the next season.  Rental property hosts appreciate that they can communicate directly with the renter and that there are no commissions or guest service fees.  Moving forward many vacation rental managers will continue to work full time on nightly vacation rental sites and others may use platforms that encourage renters to book for the whole season.