Get ready to see a LOT more from the giant HomeAway.
Vacation Rental Site Raises $250 Million - Bits Blog - NYTimes.com: "To make the investment worthwhile for the venture capitalists, HomeAway will have to eventually sell itself for a high price or raise a lot of money in the public markets. “Everybody believes that’s very doable,” Mr. Sharples said. The company has lots of room to grow, he said — there are between 3 million and 4 million homes for rent in the United States and Europe, and HomeAway lists only 325,000 of them. The vacation rental marketplace in the United States is valued at $24 billion, according to travel industry research firm PhoCusWright, and the market in Western Europe is about the same size, according to research firm Illuminas."
Tuesday, November 11, 2008
Practical Traveler - Readers Sound Off on Private Rentals - NYTimes.com
There's been a lot of press for vacation rentals lately. An October article in the NY Times received some pretty strong response from rent by owenrs, but the nice thing that came out was a good discussion. As an owner, traveler, and manager, I've found that making a good match between the guest and the property is the key to a successful vacation rental. Read what others think at:Practical Traveler - Readers Sound Off on Private Rentals - NYTimes.com: "Regardless of whom you rent from, communication is the key. “Communicate with the agency or owner often — let them know your priorities, ask questions and get references and pictures,” offered a reader named Kathy from California, who said she has rented in various parts of Europe, and “you will learn quickly who is responsive and on top of things. Many people who rent really love their properties and locations and are happy to give you the scoop.”
Making a priority list of what you’re looking for in a rental can also be useful, she noted: “Are you looking top notch accommodations? A good location? An inexpensive place? A kid-friendly place?”
Travelers can also learn a lot from a vacation rental ad, if they know what to look for. A lack of interior photos can be a clue that something’s not quite right, a reader with the screen name, “nyc10012” pointed out, adding:
“Make a point of asking a question in your first query to the owner — did you get a quick and reasonable reply to your question? If not, trust your instinct and keep looking.”"
Making a priority list of what you’re looking for in a rental can also be useful, she noted: “Are you looking top notch accommodations? A good location? An inexpensive place? A kid-friendly place?”
Travelers can also learn a lot from a vacation rental ad, if they know what to look for. A lack of interior photos can be a clue that something’s not quite right, a reader with the screen name, “nyc10012” pointed out, adding:
“Make a point of asking a question in your first query to the owner — did you get a quick and reasonable reply to your question? If not, trust your instinct and keep looking.”"
Monday, November 10, 2008
Oceanside vs Encinitas and Del Mar - What a Bargain!
As a business person in Oceanside (vacation rentals) at first I resented the 10% transient occupancy tax our guests have to pay. Then as I became more involved I began to understand that a good portion of that money does go back to making Oceanside a good tourist destination. Yes, 10% is hefty...but wow, it looks like a bargain compared to the 13% that Del Mar is now going to levy! and the money isn't even for tourist related impact! Oceanside has always been an excellent value, but now we are 3% less expensive before you even consider rent differences!
SignOnSanDiego.com > News > Politics -- Measures to raise North County tourist taxes appear on track: "NORTH COUNTY – Ballot measures aimed at raising taxes on tourists in two North County cities appeared to be on track to pass as early returns were counted Tuesday night.
Del Mar voters also showed overwhelming support for the first major commercial development in the village area in two decades.
The tax increase proposals are in Del Mar and Encinitas."
SignOnSanDiego.com > News > Politics -- Measures to raise North County tourist taxes appear on track: "NORTH COUNTY – Ballot measures aimed at raising taxes on tourists in two North County cities appeared to be on track to pass as early returns were counted Tuesday night.
Del Mar voters also showed overwhelming support for the first major commercial development in the village area in two decades.
The tax increase proposals are in Del Mar and Encinitas."
When Your ‘Flip’ Flops: 5 Tips for Offering Your Investment Property as a ‘Vacation Rental’ | RISMedia
The authors of this article, the Glossbrenners are well respected in the vacation rental by owner industry. The thing to remember is that those markets where your "flip flopped" are the same markets where now the general rental and vacation rental markets are flooded. Although renting your investment out will certainly help with the cash flow, and maybe even break even, don't expect to get rich quick. This is real work, and takes a real commitment to do it right. Their tips are sound for getting a start. You may also want to consider hiring a professional to manage the place for you.
When Your ‘Flip’ Flops: 5 Tips for Offering Your Investment Property as a ‘Vacation Rental’ | RISMedia: "When Your ‘Flip’ Flops: 5 Tips for Offering Your Investment Property as a ‘Vacation Rental’
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By Alfred and Emily Glossbrenner
RISMEDIA, Nov. 10, 2008-You remember the news stories: People buying condos in Florida, Nevada, California, and other hot markets and “flipping” them for a fat profit before even a single spade of earth had been turned. Then everything went crazy, and hundreds of thousands of investors were stuck with new bricks-and-mortar properties that no one would buy.
Fortunately, for many, there’s a very palatable alternative: offering those properties as vacation rentals or “VRs.”
As hard as it is to believe, there may be a silver lining to the current turmoil. First, people will always take vacations. But now they’re more likely to stay on U.S. soil. Second, with their full kitchens, washer/dryer laundry rooms, swimming pools, and other amenities, vacation rentals not only offer much more space than a hotel, they are much more"
When Your ‘Flip’ Flops: 5 Tips for Offering Your Investment Property as a ‘Vacation Rental’ | RISMedia: "When Your ‘Flip’ Flops: 5 Tips for Offering Your Investment Property as a ‘Vacation Rental’
Click stars to vote (left is low, right is high)
1 Star2 Stars3 Stars4 Stars5 Stars (3 votes, average: 3.67 out of 5)
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[?]
Print This Print This
By Alfred and Emily Glossbrenner
RISMEDIA, Nov. 10, 2008-You remember the news stories: People buying condos in Florida, Nevada, California, and other hot markets and “flipping” them for a fat profit before even a single spade of earth had been turned. Then everything went crazy, and hundreds of thousands of investors were stuck with new bricks-and-mortar properties that no one would buy.
Fortunately, for many, there’s a very palatable alternative: offering those properties as vacation rentals or “VRs.”
As hard as it is to believe, there may be a silver lining to the current turmoil. First, people will always take vacations. But now they’re more likely to stay on U.S. soil. Second, with their full kitchens, washer/dryer laundry rooms, swimming pools, and other amenities, vacation rentals not only offer much more space than a hotel, they are much more"
Thursday, November 6, 2008
Renting a Villa, Not a Dump
Althought I'm thrilled to see vacation rentals getting a lot of mainstream press lately, what is so discouraging is the sensational headlines like this one that the Wall Street Journal use.
Regardless, the article is a good one to read for those in the business and those considering renting a vacation home from a stranger for the first time. I was at the Vacation Rental Managers Association meeting last week and learned that finally, TripAdvisor is going to have a good medium for reviews of vacation rentals. I've been routinely writing emails and begging them for a few years now! The fact is, most guests at vacation rentals would come back again according to some new research - incredible satisfaction ratings can be found in this business!
So, relax, read the whole article (there's just and excerpt here, and start looking for an affordable alternative to hotels for your next vacation.
Renting a Villa, Not a Dump - WSJ.com: "Renting a vacation home may be cheaper and provide more space and privacy than the typical hotel room, but some travelers still hold back for fear of falling victim to the phenomenon industry insiders call SNAD: significantly not as described. You know, the property that looks like a slice of paradise in the photos, but when you get there, it's all leaky roof, blocked views and bad plumbing.
What advice would you give travelers considering a vacation rental? Have you rented a vacation home or condominium? What was your experience, and would you do it again? Share your thoughts.
Now, hospitality companies are trying to find ways to make booking a vacation rental less mysterious and more reliable, to compete more directly with the familiar brand-name hotel experience. The industry is also betting that the often lower cost of staying in a vacation home will hold particular appeal as the economy heads south.
Homeaway Inc., the world's largest vacation rental booking company by the number of properties listed, is moving to increase reliable user reviews on its Web sites, so potential renters can have more confidence in their choices. Tripadvisor, a unit of Expedia Inc. that is the market leader in hotel user reviews, plans to add vacation-rental reviews to its site by the end of the year.
Other companies are trying to make"
Regardless, the article is a good one to read for those in the business and those considering renting a vacation home from a stranger for the first time. I was at the Vacation Rental Managers Association meeting last week and learned that finally, TripAdvisor is going to have a good medium for reviews of vacation rentals. I've been routinely writing emails and begging them for a few years now! The fact is, most guests at vacation rentals would come back again according to some new research - incredible satisfaction ratings can be found in this business!
So, relax, read the whole article (there's just and excerpt here, and start looking for an affordable alternative to hotels for your next vacation.
Renting a Villa, Not a Dump - WSJ.com: "Renting a vacation home may be cheaper and provide more space and privacy than the typical hotel room, but some travelers still hold back for fear of falling victim to the phenomenon industry insiders call SNAD: significantly not as described. You know, the property that looks like a slice of paradise in the photos, but when you get there, it's all leaky roof, blocked views and bad plumbing.
What advice would you give travelers considering a vacation rental? Have you rented a vacation home or condominium? What was your experience, and would you do it again? Share your thoughts.
Now, hospitality companies are trying to find ways to make booking a vacation rental less mysterious and more reliable, to compete more directly with the familiar brand-name hotel experience. The industry is also betting that the often lower cost of staying in a vacation home will hold particular appeal as the economy heads south.
Homeaway Inc., the world's largest vacation rental booking company by the number of properties listed, is moving to increase reliable user reviews on its Web sites, so potential renters can have more confidence in their choices. Tripadvisor, a unit of Expedia Inc. that is the market leader in hotel user reviews, plans to add vacation-rental reviews to its site by the end of the year.
Other companies are trying to make"
Sunday, September 14, 2008
Private owners leave light on for you -- chicagotribune.com
Private owners leave light on for you -- chicagotribune.com: "Private owners leave light on for you
Mary Umberger
September 14, 2008
When Christine Karpinski visited downtown Chicago on a business trip a few weeks back, her lodgings were definitely on the luxe side.
'I had a gorgeous, corner view from the 32nd story, wireless Internet, big flat-screen TV, plush linens and towels,' she said. She also had a full kitchen with granite counters and access to a washer and dryer. The building had a gym and a pool.
She wasn't at a hotel. She was in a privately owned, two-bedroom Gold Coast condo rented out by its owner for $275 a night."
Mary Umberger
September 14, 2008
When Christine Karpinski visited downtown Chicago on a business trip a few weeks back, her lodgings were definitely on the luxe side.
'I had a gorgeous, corner view from the 32nd story, wireless Internet, big flat-screen TV, plush linens and towels,' she said. She also had a full kitchen with granite counters and access to a washer and dryer. The building had a gym and a pool.
She wasn't at a hotel. She was in a privately owned, two-bedroom Gold Coast condo rented out by its owner for $275 a night."
Thursday, May 24, 2007
5 Hottest and Coolest Real Estate Markets
To buy or not to buy? That is the question...
Time to look at Florida property? Or is that market still too saturated from recent speculation? Sure would like a vacation home and rental in the southern gulf area?
Weigh in on the changing markets, and if there are any good spots to invest other than the stock market today.
RealEstate.com – 5 Hottest and Coolest Real Estate Markets: "What are the hottest and coldest real estate markets in the country? According to the February 2007 National Association of REALTORS® home sales report, the percentage change in the median sales price of existing single-family homes between the fourth quarter of 2005 and the fourth quarter of 2006 was as follows:
Metro areas that increased in value the most in 2006
1. Atlantic City, New Jersey +25.9%
2. Salt Lake City, Utah +22.7%
3. Trenton-Ewing, New Jersey +18.9%
4. Beaumont-Port Arthur, Texas +15.1%
5. Salem, Oregon +14.9%
Metro areas that dropped in value the most in 2006
1. Sarasota-Bradenton-Venice, Florida –18%
2. Palm Bay-Melbourne-Titusville, Florida –17%
3. Cape Coral-Fort Myers, Florida –11.7%
4. Springfield, Illinois –10.4%
5. New Orleans-Metairie-Kenner, Louisiana –9.3% "
Time to look at Florida property? Or is that market still too saturated from recent speculation? Sure would like a vacation home and rental in the southern gulf area?
Weigh in on the changing markets, and if there are any good spots to invest other than the stock market today.
RealEstate.com – 5 Hottest and Coolest Real Estate Markets: "What are the hottest and coldest real estate markets in the country? According to the February 2007 National Association of REALTORS® home sales report, the percentage change in the median sales price of existing single-family homes between the fourth quarter of 2005 and the fourth quarter of 2006 was as follows:
Metro areas that increased in value the most in 2006
1. Atlantic City, New Jersey +25.9%
2. Salt Lake City, Utah +22.7%
3. Trenton-Ewing, New Jersey +18.9%
4. Beaumont-Port Arthur, Texas +15.1%
5. Salem, Oregon +14.9%
Metro areas that dropped in value the most in 2006
1. Sarasota-Bradenton-Venice, Florida –18%
2. Palm Bay-Melbourne-Titusville, Florida –17%
3. Cape Coral-Fort Myers, Florida –11.7%
4. Springfield, Illinois –10.4%
5. New Orleans-Metairie-Kenner, Louisiana –9.3% "
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