HomeAway’s over-riding vision is global and it is that vacation rentals supplant hotels as the preferred choice for family and group travel worldwide. With this lofty vision comes the understanding it will take years to achieve.
Playa del Carmen, Mexico (PRWEB) May 31, 2013
As the vacation rental market widens, there is good news ahead for owners.
Industry powerhouse HomeAway’s Carl Shepherd sees and even greater rise of the vacation rental industry. In an interview with http://www.webintravel.com, he is quoted as saying, “HomeAway’s over-riding vision is global and it is that vacation rentals supplant hotels as the preferred choice for family and group travel worldwide. With this lofty vision comes the understanding it will take years to achieve.”
Lofty? The industry is right on track. According to a March 2013 TripAdvisor survey, 49% of travelers either have already stayed in a vacation rental or were planning to stay in a vacation rental in 2013. This is up from 40% in 2011 and 46% in 2012.
Vacationers have a range of options. While a hotel is a great option for a night before a long flight or a good option for solo business travelers, many people are finding the benefits of vacation rentals- a kitchen, separate bedrooms, sometimes outdoor space, living area, as well as amenities, are hard to ignore.
The benefits aren’t exclusive to the traveler. Many middle income families are enjoying the unusual perks that being part of the travel industry afford.
In addition to income, second home owners can benefit from their home in unexpected ways.
- Free travel- exchange your home with another vacation rental owner. For a virtual tour of your next possible vacation, peruse options at sites like HomeExchange.com.
- Commission- pass along reservations you can’t accept to a neighbor for a potential commission. They should do the same for you.
- Tour and Amenities Packages- Put together packages that your guests will pay for, and get a percentage from tour companies, masseuses, personal chefs, and more.
- Freebies- In exchange for promoting individuals or companies, companies might choose to comp out their products or services. Owners can receive free tours, massages, transfers, meals and more, which make vacationing more cost effective.
- Tax Breaks- Real estate can offer many tax advantages. Travel to your second home can be a legitimate deduction. Always check with you accountant to check on your particular scenario.
- Inheritance- leaving a home full of happy memories for your children can be more meaningful than stocks. And if other people pay your mortgage off, it’s even better.
- Bartering- resourceful owners will be able to trade empty nights for anything from haircuts for the entire family at upscale salons to car maintenance. Check with your accountant to see what you need to report as income.
Vacation rental owners and those considering purchasing a vacation rental can benefit from the information in Money Making Vacation Rentals.
About Beth Carson
Beth Carson is the author of “Money Making Vacation Rentals” and International Living’s new online program, “Profitable Vacation Rentals Abroad.” She was a featured speaker at last week’s International Living’s Ultimate Event in Playa del Carmen.
Beth Carson is the designer and owner of Starfish Blue, a vacation rental on Fiji’s Suncoast. The private, three bedroom, three bathroom house on a reef with a pool and view of three islands can be viewed at http://www.StarfishBlue.com.
Together with partner Sandra Cloer, Beth consults on every aspect of vacation rentals. She loves to work with developers in Latin America and small property management companies all over the world, including the US. Both Beth and Sandra are happy to work with individual home owners to boost bookings. Sometimes, just a few small tweaks will result in higher bookings.
Beth Carson, Vacation Rental Consultant
Money Making Vacation Rentals