Barefoot Technologies Blog- Vacation Rental Industry News

Pictures are worth a thousand words and remarkable photos that paint a picture are worth even more--it is about setting a mood, an expectation.  If you add video with music into your owner retention program and out to your prospective guests, then you have even more control over the mood you want to invoke, which drives sales and commitment.   

A 1031 exchange both forward and reverse are powerful tools for real estate companies focused on vacation rentals. It allows investors/owners to sell investment properties and use all the proceeds to purchase new investment properties while deferring taxes associated with the sale. To qualify as an exchange, the relinquished and replacement properties must be qualified as “likeinkind” properties and the transaction must be properly structured as an exchange. “LikeInkind” relinquished properties and replacement properties must be real properties that have been and will be held for productive use in the investor’s trade or business or for investment, but there is some flexibility and gray area. For vacation rentals, as long as you follow the special definition of vacation rentals, you can apply other investment properties as “LikeInKind”.

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Barefoot is the leading supplier of software to the vacation rental management industry. We have a reputation for providing excellent customer support and care. We are committed to our work, customers, having fun, and most importantly to each other's success.
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Vacation Rentals are truly now a subset of the larger lodging and real estate industries.  To play in it you must study the past like Expedia’s takeover of the hotel industry.  Then, look at the present and understand the big portals like Airbnb and VRBO and the national players who seem to be getting so much publicity like Vacasa, Stay Alfred, Marriott and others.  And finally, look to the future with players like Zillow, Amazon and the National Association of Realtors. They all will play significant roles in the future. Barefoot takes all of this into account and is the only reservation system that is active in understanding the big picture with a commitment to providing an avenue for independents to remain strong.  

I had the opportunity to attend the Skift short term vacation rental conference.  It was a great event, but the real focus was on national players and that is honestly a small part of the entire industry.  It is the loudest because the press likes disruption.  It is not sexy to be mature and consistent.  There were a few observations that may be of interest to each of you.

Lots of interesting things going on in the vacation rental and travel business. Probably the most important is Google.

On December 28, 2018, Massachusetts passed HB 4841, a law that is aimed at regulating and insuring short term rentals.  While taxes are always controversial for the professional vacation rental company, in many ways this can be something positive if you are well organized.