The short term rental market has seen huge boom in the industry, but with so much competition across Canada and the USA, some ask if it’s too late to start?
In our opinion, if you’re willing to look at outside markets, then the world is quite literally your oyster. Here are our suggestions for some of the biggest untapped markets for short term rentals.

Tulum

If you haven’t heard, Tulum is opening the new International airport in December of 2023, preparing for a huge influx of international tourists. Although Tulum has garnered much attention over the years as a hidden paradise just 45 minutes from Cancun, most people over look it due to a lack of easy access.

With a brand-new airport, Tulum and the surrounding area are in the midst of preparing for a boom in their tourism market with plenty of affordable new construction developments popping up left and right. Now would be an opportune moment for anyone looking to capitalize on this rare occasion, plus having a sweet little vacation pad doesn’t sound too bad either.

Montenegro

Montenegro is what Croatia was in 2015 – somewhat undiscovered but a true gem! The riviera is where you’ll want to focus as an affordable alternative to the European hotspots all summer.
As of now, the process to attain a permit is quite easy – the only caveat is that this location is a seasonal one, meaning between April and September is when you will get most of your bookings.

Dubai

Although pricey, Dubai is a haven for a reason. With tax friendly and short term rental friendly laws, Dubai is a fantastic place to start a short term rental business. In recent years, Dubai has also become much more open to international tourists and the future is bright for this ever growing city. It’s also one of the few cities around the world that have the most self-made millionaires, most of these are business owners who started from scratch.

If that wasn’t enough, this might convince you. Just an hour away from Dubai in a beach town called Ras Al Khaimah is a huge surprise. In 2027, the Wynn Casino and Resort is set to open, making it the first casino in the middle east!

So, where are you starting your short-term rental business?