Barefoot Technologies Blog- Vacation Rental Industry News

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”.

For most people, summer is the best time of year. A time of vacations, spending time outdoors and focusing on the finer things in life — like food, family and fun. But in the vacation rental industry, the word “summer” is enough to make most of us break out in a cold sweat.

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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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Among many things that have become a new reality with COVID-19 is the need for vacation rental management companies to offer their guests convenient and safe contact less check in and check out for their guests.

As part of our series “Getting Creative in Unpredictable Times”, we want to take some time to go through the benefits of having a reward point module that is part of your brand loyalty program.

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.