Pesky Independent Vacation Rental Owners – That’s How the Big Boys See Us!
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Independent vacation rental owners are seen as pesky obstacles by those seeking to dominate the potential $100 billion global vacation rental and alternative lodging market.
Apparently, it’s because independent vacation rental owners are reluctant to start paying the big boys’ commissions. They’d rather do it themselves and often prefer to deal with guests directly, sometimes even offline. This is according to a new report from Evercore entitled ‘A Change of Vacation Plans’.
Following the report’s publication, industry blog Skift commented: ‘Individual vacation rental owners, many of whom prefer to work directly with guests and prefer paying subscriptions over transaction fees, may have a lot more to say about the direction of the market than some of the largest players might hope for.’
Independents are now a force to reckon with
Suddenly, independent vacation rental owners are seen as a force to reckon with rather than a crop for harvesting by the industry. Here at Homes and Rooms we’ve always been on the side of independent vacation rental owners. Indeed, it’s the reason Homes and Rooms was set up.
We provide a service that enables owners to manage and keep control of their own properties while maximizing their reservations and revenues. To help them do this, we provide some of the most up-to-date software tools available. It’s a great alternative to handing over control to a management company and settling for a fraction of the likely income.
The Evercore report focuses on opportunities in the global vacation rental market for industry giants Priceline and TripAdvisor. While these two exhibit ‘strong momentum’ in the professionally-managed section of the vacation rental market, this makes up only one-third of the total.
Now they’re looking at the rest. This huge, two thirds is composed of those pesky rent-by-owner people: independent vacation rental owners. Quite a startling statistic! You may not have realized there were quite so many independents out there.
The report also points to a lack of technical sophistication and a resistance to paying industry commissions among independents. ‘Two thirds of the vacation rental market tends to be For Rent by Owner, which is an inherently tougher market to penetrate where technology tends to be lacking and owners are more loathe to tripping commission fees as they essentially manage the front desk.’
Handing over management and control
Should we, as independent vacation rental owners, be worried by the industry’s intentions? Could they have us all handing over the management and control of our properties to management companies and settling for a fraction of the potential profits?
The difficulty facing independent vacation rental owners is that the online travel agencies have huge marketing budgets, sophisticated software management systems and a determination to have things their way.
You are in competition with properties handled by these big agencies and will not be able to match their enormous promotional budgets. However, as a Homes and Rooms subscriber, you have access to some of the most sophisticated software available to help manage your property online. With it, you have the capability to present a successful and professional business online.
Dedicated online management services
Independent vacation rental owners are at the heart of what we do. So the services we have developed are dedicated to providing effective online management of your property. They will enable you to compete with other properties – irrespective of whether these are managed by the owner or by a large company or corporation.
With our help, you can remain independent and in control and as ‘pesky’ as you like. Even when you live remote from your property. Why not sign up today for your 14-day, no obligation trial at www.homesandrooms.com?