Last updated on June 21st, 2020 at 07:54 pm
Some call them Airbnb’s, some call them short term rentals, I call them Vacation rentals. It depends upon what your need is what you may call a property where you can stay as if you were at home. Vacation rentals come ia all sizes and types. Condos, townhouses, single family homes, cabins etc.
During my entire working career where I traveled extensively (very week), I stayed in hotels. In the U.S. were were bed and breakfast places but usually in out of the way places e.g. resort areas. Regular travelers like me never thought of a short term rental.
Thank Millennals
We can thank the Millennial generation for introducing the larger public to the concept of a vacation rental. The company Airbnb popularized it and several competitors followed such as Home and Away, VRBO etc. Now the term Airbnb is as common as Kleenex for tissues.
My first time staying at a bed and breakfast was in Scotland, We liked it so well, we stayed at a different one each nigh was we traveled. They were great and a welcome change from hotel rooms where the windows did not open.
There is now a proliferation of short term rentals. I call them that in this section because I have found that many business people now stay at them. Particularly when several individuals are traveling together. Companies can save money by booking house with several bedrooms as compared to paying for multiple hotel rooms.
Families can finally afford to stay at resorts without paying a “resort fee” at a hotel where they had to buy two or three rooms. A large house can accommodate many people.
Great for extended families
Extended families love them. Grandparents, adult children and their grandchildren can all stay at the same place for a fraction of the cost. They can cook and save money going to restaurants all of the time.
I happen to know much about short term/vacation rentals because I decided to work with my investment clients to acquire them. The first two were a success. They are located on the Mississippi Gulf Coast in areas where people can see the beach and gulf then walk to the sand in a couple of minutes.
The two properties that i mentioned are full time short term rentals. The investors guests include families, people traveling on business and for conventions. Spring break and other events tend to help fill up the calendar.
People who stay leave very nice notes about how charming they are. One of the properties is a house that is over 100 years old. People were enjoying the beach before any of the guests were born. It is truly charming.
Cannot compare to a hotel
This is the type of property that cannot compare to a hotel or motel. The experience is unique. Most of the parties are large e.g. 10 or more. The properties sleep 12-13 people.
If you are considering traveling to another location for a vacation you may want to rent a vacation rental. You can tell how popular one is by the rating that they give to the owners on the typical sites such as Airbnb. This will help you decide which one you want to rent.
Many owners have their own sites as well and if you find them, you can save money as the booking companies charge a fee to the guest and another to the owner. My clients charge a small booking fee to recover the cost the credit card charge. The savings is significant.
When you stay, you should leave comments in the guest book. Be honest. Leave a rating if you book through one of the online sites. Most vacation rentals are owned by individuals who love making their home available.
In fact, many if not most vacation rentals are owned by people who let you stay in their second home. The owners will be there when you are not. It’s really like having guests into their home. This is one reason why each is unique with the decorating touch of the owner.
You can find vacation rentals in nearly all locations that are popular with visitors e.g. beaches, lakes, mountains etc.Renting a second home periodically to guests is an excellent way to help the mortgage. Virtually all vacation rentals have cable tv and internet so you will be connected during your stay.
Hosts go out of their way for your comfort
Hosts will go to great lengths to make your stay a nice one. Just ask them for anything, they usually know the area well and can make recommendations. If anything goes wrong call them immediately. They are all striving for a five star rating and will show up quickly. Those that do not will fade away.
There are several components to renting a vacation home. First, the fee. This is only for the stay itself. Then there are sales taxes followed by insurance or a deposit for breakage and finally for a booking fee. The total is generally lower than if you were to book a hotel for the number of rooms you need.
For example, one of our clients houses sleeps 12 people. If you put two per room in a hotel you would need six rooms. In a vacation area at the height of summer, this may cost you more than $100 per room per night. That’s $600 per night. A vacation rental that will sleep 12 should cost you note more than $500 per night and perhaps as low as $450.
The savings seem insignificant but the $600 does not include taxes, parking etc. Nor does it include the cost to eat out at a restaurant for a week. Or at the ability to stretch out when you are tired from site seeing and watch a game on tv with the family.
Book well in advance for popular times of the year. The best prices are in the off season. Some times you can negotiate a price during the slow season.
Extended stay
Extended stays are priced at lower rates. Usually a week, lower for two weeks and lower still for one month. Businesses book longer periods and the rates are usually very good.
If you are relocation from another area and your house is not ready or you are looking to buy one, stay at a vacation rental for a few months, it will seem like home and cost much less than any other type of long term stay hotel.
If you want a sample of what a vacation rental looks like and read about it in depth, click here Christies Gulf Beach Rentals you can see photos and read about two great properties. Should you like to book a time, look at the calendar and before you book, contact Christies and tell them you learned of this from RetireCoast.Com, you will receive a 5% discount. You must have them book it for you to receive the discount.
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