Saturday, September 10, 2011

Some Important Facts About Vacation Rentals


  • Renting out homes to travelers is a centuries-old world-wide tradition, not a new phenomenon.
  • Vacation rental homes seem to be a new phenomenon because they have recently become more popular with business and leisure travelers here in the US.
  • Many people rent their homes simply so they can afford to hold on to a home in a community that they love.  Less than 5% of these homes turn a profit.
  • Vacation rental owners naturally maintain their homes to very high standards in order to encourage their guests to return each year.
  • Vacation rental homes typically appraise for a high value, and in turn raise the value of the homes of residents who live nearby.
  • Studies show that vacation rentals bring in tourists that have the most money to spend.
  • The occasional rental of a 2nd home is not considered to be a “business use”.  This is considered to be a “short term rental” and differs from regular rental homes mainly in terms of how long people stay.
  • Studies show that vacation rentals increase tourism, especially in communities where the tourist season is only a few months long.
  • Studies show that vacation rentals have lower social and environmental impacts on communities than motels, hotels and large resorts.
  • Studies show that people who like to stay in vacation rentals will not stay in a hotel if they can’t find a rental.  They’ll go to a different town where more vacation rentals are available instead.
  • Its hard to justify a community’s efforts to restrict or ban vacation rentals while at the same time that community is spending big money trying to attract tourists.
  • Poorly designed laws to restrict Vacation Rentals often cause more harm than they prevent.
  • VR owners are not against regulation, but believe that their expertise, experience, rights and concerns should be considered when crafting new regulations.


2 comments:

  1. When you write the phrase "Studies show" it would be helpful to have links to articles or specific studies, particularly if they can be found online. I'm very happy that you started this blog as it is much needed. Thank you!

    ReplyDelete
  2. Good Point! See the posting titled "What The Studies Show About Vacation Rentals" for some clearer references to the studies mentioned in this posting. I'll track down the online copies of the studies and add hot Links to the posts to clear this up. Glad you like what we are trying to do.

    ReplyDelete

Thoughtful comments are welcome, whether you are in favor of vacation rentals or concerned about the impacts of VRs on your community. Comments that contain advertising, including ads for properties, will be deleted.