Short-Term Rentals: Insights for Appraisers with Garren Burton of itrip Vacations

In this episode of the Brews and Appraisal Views podcast, the host interviews short-term rental expert Garren Burton from iTrip Vacations. They discuss the growing importance of accurately valuing short-term rental (STR) properties for both residential and commercial appraisers. Garren explains key factors like occupancy rates, seasonality, and how amenities can influence nightly rates. He also covers common expenses (e.g., management fees and maintenance) and the varied licensing requirements across different municipalities. Garren highlights the use of data platforms (like AirDNA and specialized rate-management tools) to project annual revenue. Together, they provide practical tips and insights to help appraisers and property owners better understand the STR market’s complexities and potential.