Tools commonly used in the Vacation Rentals industry for day-to-day tasks and operations.

• Channel manager software
• Dynamic pricing tools
• Online booking platforms
• Property management software
• Revenue management software
• Social media management tools
• Vacation rental website builders
• Yield management software

Common products and services typical of NAICS Code 531311-11, illustrating the main business activities and contributions to the market.

• Beachfront condos
• Cabin rentals
• City apartments
• Country cottages
• Lake houses
• Mountain chalets
• Oceanfront villas
• Ski lodges
• Vacation homes
• Waterfront bungalows

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Short-Term Rental License: A license required by some states and cities in the US to operate a vacation rental. It ensures that the property meets safety and health standards and is compliant with local regulations. The requirements and application process vary by location. For example, in San Francisco, California, hosts must obtain a Short-Term Residential Rental Registration from the Office of Short-Term Rentals.
• Vacation Rental Manager (VRM) Certification: A certification offered by the Vacation Rental Management Association (VRMA) that demonstrates a manager's knowledge and expertise in the vacation rental industry. It covers topics such as marketing, operations, legal and regulatory compliance, and customer service.
• Certified Guest Service Professional (CGSP) Certification: A certification offered by the American Hotel & Lodging Educational Institute (AHLEI) that focuses on providing excellent customer service in the hospitality industry. It covers topics such as communication, problem-solving, and cultural awareness.
• Certified Pool Operator (CPO) Certification: A certification offered by the National Swimming Pool Foundation (NSPF) that trains individuals in the proper maintenance and operation of swimming pools and spas. It covers topics such as water chemistry, filtration, and safety.
• Environmental Health and Safety (EHS) Certification: A certification offered by the National Safety Council (NSC) that demonstrates a manager's knowledge and expertise in environmental health and safety regulations. It covers topics such as hazard communication, emergency preparedness, and workplace safety.

A concise historical narrative of NAICS Code 531311-11 covering global milestones and recent developments within the United States.

• The vacation rental industry has a long history dating back to the early 1800s when wealthy families would rent out their second homes to other wealthy families. However, it wasn't until the 1950s and 1960s that vacation rentals became more popular and accessible to the middle class. This was due to the rise of the automobile and the development of highways, making it easier for families to travel to vacation destinations. In recent years, the vacation rental industry has seen significant growth due to the rise of online platforms such as Airbnb and HomeAway, which have made it easier for property owners to rent out their homes to travelers. In the United States, the vacation rental industry has experienced significant growth in the past decade. According to a report by Skift Research, the vacation rental market in the US was valued at $32.4 billion in 2019, up from $24.3 billion in 2016. This growth can be attributed to several factors, including the rise of online platforms, the increasing popularity of vacation rentals among travelers, and the growing number of property owners who are renting out their homes. Despite challenges such as regulatory issues and competition from hotels, the vacation rental industry in the US is expected to continue to grow in the coming years.

The anticipated future trajectory of the NAICS 531311-11 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Growing

  The vacation rental industry in the USA is expected to grow in the coming years. The industry is expected to benefit from the increasing popularity of vacation rentals over traditional hotels. The industry is also expected to benefit from the increasing number of tourists visiting the USA. The industry is expected to face challenges such as increased competition from other vacation rental platforms and regulatory challenges. However, the industry is expected to continue to grow due to the increasing demand for vacation rentals in the USA.

Recent groundbreaking advancements and milestones in the Vacation Rentals industry, reflecting notable innovations that have reshaped its landscape.

• Smart Home Technology: Many vacation rental companies are now offering smart home technology to their guests. This technology allows guests to control various aspects of their rental property, such as lighting and temperature, using their smartphones.
• Virtual Tours: Many vacation rental companies are now offering virtual tours of their properties. This allows potential guests to view the property before booking, which can help increase bookings and reduce cancellations.
• Contactless Check-In: Many vacation rental companies are now offering contactless check-in options. This allows guests to check-in without having to interact with anyone, which can help reduce the spread of COVID-19.
• Enhanced Cleaning Protocols: Many vacation rental companies are now implementing enhanced cleaning protocols to help reduce the spread of COVID-19. This includes increased cleaning of high-touch surfaces and the use of disinfectants.
• Flexible Cancellation Policies: Many vacation rental companies are now offering flexible cancellation policies to help reduce the risk of cancellations due to COVID-19. This allows guests to cancel their booking without penalty if they are unable to travel due to COVID-19.