For a family of four, the availability of a full kitchen can mean a savings of hundreds of dollars compared to having to eat every meal at a restaurant.
Far from being a bad thing, the recession could just boost awareness of the vacation rental option.
Some vacationers still perceive a vacation rental as being more expensive than a hotel.
Nothing could be farther from the Truth in most areas. We're working to make sure the advantages of a vacation rental versus a hotel are understood by vacationers.
Take the example of the Tampa Bay Beaches - The local Marriott gives you a "1 bedroom suite" (760 sq ft) for $239 per night, a 2 bed/2 bath 1300 sq foot beachfront condo goes for $125- $150 per night.
It looks like vacationers probably will be doing even more last-minute booking in hopes of finding discounts. Our analysis of statistics from Florida Gulf Vacation search data for February of 2009 confirm this, as almost 80% of searches for Florida winter destinations were for February or March.
This morning we received a call from a gentleman in Canada planning a vacation in Florida this fall. He was wanting to know if there was anything he could do to protect his deposit because the owner did not take credit cards. He decided against renting the condo he was interested in because he could not pay by credit card.
It is always best to rent from owners who support credit card payments.
Vacation rentals are a more than $24 billion business in the U.S. alone, with expectations of strong growth.
Here are some other key findings from a recent study on the industry:
1. Nearly two thirds of vacation rental guests researched online for their last trip.
2. 20 percent of online travel shoppers (who used at least one website to plan their travel) booked a vacation rental in the past year.
3. Vacation rental guests are well-off, well-traveled, well-educated and savvy internet users.
4. Vacation rental guests are very satisfied: 89% of vacation rental guests indicated that they will rent again within three years.
Another bit of information included in the study showed that four out of five vacation rental owners surveyed said they did not receive good value from their property managers.
So, if you are still paying a property manager to secure tenants for you, why?
Check out great marketing sites like Florida Gulf Vacation for assistance in marketing your property and cut out the middleman and get more money in your pocket
