Renting property for vacation purposes is very easy and is particularly effective when traveling with larger groups or when you want a specific kind of experience. Vacation rentals come in many forms from villas and mansions to condos and studios. Anyone can rent their property so long as someone wants to stay in it and it complies with all the things that it says it has when advertised.
If you are a property owner and wish to rent your home while you are not staying there or you have various properties that you rent for profit, there are a number of ways you can find good reliable renters for your vacation rental.
Resort Administered Vacation Rentals
Fractional or timeshare owners are best advised to rent their timeshare or vacation property through the resort administration for ease and efficiency. However, the downside to this service is that resorts and hotels usually take a large commission, sometimes up to 50% of the cost of rentals. Nevertheless, if you are hoping to offset the cost of your own maintenance fees while you are not staying in your apartment or villa then this can be a good option.
Rent By Owner Vacation Rentals
The most profitable way to rent your property is to market your own property to renters. However, this takes a lot of work and know-how. If you do not have any experience in vacation rentals or marketing, then you may not be as successful as you envisioned. The profit margin is much higher as you do not have to pay agency fees and commissions but you may find that it is more work than its worth.
Agency Vacation Rentals
The most popular form of vacation rentals is through and agency. Many renters like the idea and security of renting through an agency who will also act as their contact in a foreign country. Like dealing with resort administrators, renters have more protection. Agencies will, however, charge a commission, which will take a cut of your profit. The other benefit of agency vacation rentals is that you benefit from their advertising budget and marketing know-how.