Vacation home rentals are becoming serious business. According to PhoCusWright vacation rentals accounted for more than 333 million available unit nights in the U.S. market in 2007 (most recent stats available) and nearly $24.3 billion in rental revenue. Approximately 10 percent of all U.S. adults and nearly 20 percent of all online travelers have booked a vacation rental.
For many (including myself), the vacation home rental offers an inherent value, more room for the rental rate. Having experience in the mountains of Colorado, I understand the value associated with a full kitchen (save $ versus eating out every meal), multiple bedrooms (less cost than adjoining hotel rooms), privacy (private hot tubs, deck, bar-b-que) and cost (usually less money when compared to adjoining rooms)
Yet, unlike hotels and resorts which have standardized ratings and/or management affiliations, a vacation home rental can be the ultimate paradise or nightmare. How do you truly know what you are renting? What are the advantages and disadvantages? Is a vacation home rental even right for you? I hope to answer there questions in subsequent posts including experiences from clients, tips concerning bookings, questions to ask, how to read “between the lines” i.e. cozy = size of a walk in closet and links to reputable sites concerning vacation home rentals.
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