Short-term rentals, from Halldis by Vita the Vademecum 2026

At a time when short-term rentals are at the centre of public attention, amidst new regulations, political debate and rapidly changing demand, Halldis by Vita - a historic Italian property management company active since 1986, acquired by Castello Sgr in August 2024 and present in over 120 destinations in Italia and Europe - presents the Vademecum 2026, a practical guide to help owners, companies and investors find their way around short, medium and long term rentals. It is not a theoretical document, but a concise, data-driven tool, built on the basis of direct experience and key industry analyses.

The Vademecum analyses four key areas: owners, customers, contracts and profitability dynamics. The picture that emerges is one of a heterogeneous market, dominated by private owners (96%, according to Aigab 2025 data) and a growing demand for medium-long stays. At the same time, the proportion of professionally managed properties remains small: in new residences intended for rental, only 5.15% of units are entrusted to specialised operators, according to an analysis by Scenari Immobiliari in April 2025. The potential remains significant: in Italia, again according to Aigab, there are 9.6 million unused second homes and approximately 640,000 placed on the temporary rental market.

On the demand side, the guide highlights trends that are now structural: record saturation of non-hotel nights (AirDNA, Vrws 2025), growth of the mid-term for students, managers and professionals and greater price sensitivity on the part of families. Also growing are hybrid formats such as serviced apartments, which show a constant dynamic (+6% in summer 2024) and a growth potential, again according to Aigab, of 15% in the three-year period 2025-2028.

The Vademecum also offers a clear reading of the main contractual models adopted in property management - mandate with representation, mandate without representation, short/medium/long leases, management contracts and serviced apartments - helping each owner to identify the solution best suited to his or her profile, property and local regulations.

"In the debate on short-term rentals we often talk about bans and constraints, but less about how the market really works," says Michele Diamantini, CEO of Halldis by Vita. -. With the Vademecum 2026 we wanted to offer a clear, data-based snapshot. Today, only 1.4 per cent of Italian homes are used for short-term rentals, while over nine million remain empty. In a context where guests' needs and regulations are changing, professional management, capable of choosing the right channel and ensuring quality, safety and profitability, makes the difference".