Sunday, July 13, 2008

Vacation Rentals By Owner

Vacation Rentals by Owner, or VRBO, is a term in the travel industry that refers to an individual renting out a furnished apartment, house, or condominium on a temporary basis in place of a hotel or resort. They are often referred to as villa rentals in Europe, and are more popular there than in the United States. Prevalent areas in the United States include major tourist areas such as Hawaii, California, and Florida.

Difference between Vacation Rentals by Owner and Timeshare
While vacation rentals by owner may seem similar to timeshare rentals, they are in fact quite different. A VRBO is owned and controlled by one person, a where a timeshare is owned by multiple owners who each share part of the financial responsibility of ownership in return for a time period each year where they have sole use of the property. Many timeshares are owned by so-called timeshare resorts who allow owners to trade their alloted time in one unit for time in another unit owned by the resort.

Benefits of VRBO
Vacation rentals by owner were once known as lower-cost alternatives to resorts and hotels. This isn't as true as it used to be, but the savvy traveler can find excellent deals. Further, even at the same price as a hotel or resort, the main benefit of a VRBO is that you can experience the local community of the area you're vacationing in.

Problems with Vacation Rentals by Owner
However, some people view experiencing the local community and forgoing the support structure found in resorts as a drawback. Room service, concierge, problem resolution, and experience staff are certainly an upside to resort life, and something you won't necessarily have in a VRBO. Dealing with property owners directly may pose a problem as well if there's a language barrier or they're difficult to get in touch with.

Vacation Rental Big Picture
When weighing the pros and cons of a vacation rental, the benefits of a vacation rental by owner tend to outweigh the drawbacks, especially if you deal with a management company that acts as a intermediary for the property owners. This type of arrangement will fill in many of the gaps between a VRBO and a resort, with 24 hour check-in, problem resolution services, maintenance, and even maid service in some cases.

Vacation Rental by Owner Management Companies
Frequently, property owners hire a vacation rental management agency to market the vacation rental property. They also handle reservations, billing, maintenance, and any other eventualities that may come up. Look for a company that's part of the Vacation Rental Managers Association.

1 comment:

Yvonne Kirby said...

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