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The Rental Option
By Alex Risser
Vacation rentals can be a profitable option for you and your clients

As the “togethering” travel trend continues to grow (especially during today’s economy), travelers are increasingly choosing vacation rentals for value, privacy and comfort underneath one roof. The category represented a $25 billion market in 2008, with nine in 10 vacation rental guests intending to rent again within three years. What’s more, nearly nine in 10 would also recommend vacation rentals to a family member or friend, according to PhoCusWright’s “Vacation Rental Marketplace: Poised for Change.”

Yet travelers can be easily overwhelmed with the millions of vacation rental choices online. The Vacation Rental Managers’ Association (VRMA) represents more than 150,000 rentals across North America. The vast majority of VRMA members welcome the opportunity to work with travel agents and their clients, and while commissions may vary, rates can range from 10 to 15 percent, on average.

Following are the public’s top misconceptions about vacation rentals.

1. Vacation rentals are for the wealthy. In fact, vacation rentals often provide a huge cost savings as compared to the typical hotel stay. Groups and/or families can save on the costs associated with booking multiple hotel rooms. Rates for some three-bedroom vacation homes start at just $99 per night, but sleep up to eight. And having a fully equipped kitchen offers great value to travelers who want to save on dining out.

2. Vacation rentals aren’t reliable—the quality of services and facilities are always a gamble. On the contrary, when choosing a vacation rental from an established property management company, travelers can be assured that there’s a reputable business maintaining and servicing the property and its guests each day. This includes all of the proper inspections, housekeeping, landscaping, laundry, reservations and much more. Guests are encouraged to look for the AAA Ratings of vacation rentals, as well as a designation of membership with the Better Business Bureau (BBB) and the VRMA, which requires member companies to uphold a code of ethics and business practices to ensure guests are provided a quality lodging experience.

3. If I need assistance during a trip, I’ll have to handle it myself. When choosing a vacation rental through a professional management company, guests are offered an emergency contact number to call 24 hours a day, seven days a week, for assistance.

4. I’ll have to watch a presentation, or worse, be pressured if I rent from a management company. Vacation rentals are not like timeshares as they don’t involve any type of ownership, maintenance fees or commitments of any sort. Travelers can simply rent a vacation home for their getaway rather than stay in a hotel, with no pressure and no presentations.

5. I’m going to have to make the bed, cook and do dishes during the trip. While each vacation rental is thoroughly cleaned and prepared for guests’ arrivals, management companies often offer mid-stay or daily housekeeping services, upon request, for a fee.

6. Only large families and groups get the best value in vacation rentals. While there are some vacation home rentals that accommodate scores of travelers under one roof, there are many options offering value for single travelers, couples and small groups of just two or three guests. Options range from studio-size condo rentals in metro areas to one- or two-bedroom town homes and bungalows.

7. I’ll have to stay for a minimum of seven nights. As the habits and preferences of today’s travelers have changed, the vacation rental category has adapted to best meet their needs. Guests seeking a two- or three-night getaway can often find established rental companies with little or no minimum stay.

8. I can’t get the same luxuries in a vacation rental as I can in a hotel. Professional vacation rental management companies often provide a concierge, butlers, a personal chef, pre-arrival grocery delivery services, child care and more. c

For more information www.discovervacationhomes.com

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Source: Vacation Agent Magazine - October 2009 / © 2010 Performance Media Group