Vacation home rental by owner versus rental companies. Advice on do-it-yourself renting of vacation property. If you are an owner of a vacation home, and you are thinking about renting it out, you will find...
If you are an owner of a vacation home, and you are thinking about renting it out, you will find there is a competitive rental market. You have to educate yourself in order to maximize your chances of making money. Will Mello, owner of Online Vacations, a website where homeowners advertise their vacation properties, says as a vacation home owner, you're in the position to call the shots the way you see it.
"It is very competitive up there and the fact that homeowners are doing it themselves, the homeowners have potential to cut the prices more than the rental companies do," Mello says.
Because vacation home owners can make their own calls, they are more flexible than larger vacation home rental companies who buy by the tens or thousands. Mello says customers need to take advantage of this incentive. Dealing with a vacation home owner can work in your favor, if you know the right questions to ask.
"I would tell the vacationers - don't be afraid to ask for a discount," Mello says.
You probably never saw this as an option, but Mello says not enough people take advantage of this chance. Many times vacation home owners will come down on their price, because they want to get their property rented out. They aren't fixed on a certain rate, like the larger rental companies are. Some of the larger rental companies are affiliated with travel agencies, who can advertise for them. The vacation home owner has to rely on himself, as their budgets are usually smaller in some cases.
However, vacation home rental companies do have many benefits. They oftentimes have great upkeep, because they are familiar with the best cleaning companies and so forth. They also have onsite management teams scouting the property grounds for them.
Mello says the biggest difference between properties owned by homeowners and rental companies is the level of intimate contact with the customer. The vacation home owner has the ability to have direct contact with their client. They can make the environment feel safe and friendly, especially if they live in the same town as the vacation property.
Vacationers like the one on one attention, and the fact they don't have to deal with a lot of red tape. If they have questions, they know they can directly contact you. For this reason, it is a good idea to live within the same area as your vacation property. This will give you more ammunition to make your client's stay as smooth and comfortable as possible.
In the end, whether you decide to go with the vacation home owner or the larger home rental company, do your research and find out what will best fit your needs. Your vacation should be about you and your family having as great a time as possible. In order to make your vacation pleasurable, you need to take the proper steps to make that possible. It will take time and hard work, but you will be glad you did it.
