Barefoot Technologies Blog- Vacation Rental Industry News

The Vacation Rental Merry Go Round – Are You Onboard?

Posted by Adam Zippin on Jul 2, 2013 4:05:00 PM

 The vacation rental industry is changing, almost daily, as you are well aware.  Home Away, Wyndham, Marriot, Trip Advisor and other large companies are moving us to places we have never been before.   It can be a very challenging environment to work in.   The good news is that these companies all bring awareness to our industry that there hasn’t been here before.   PhoCus Wright, which is a travel research company, recently published a report,  PhoCusWright’s U.S. Vacation Rentals 2009-2014:  A Market Reinvented.   It is a very expensive report, but brings some very valuable information to us.  It was said that only 10-15% of travelers knew or considered vacation rentals.  Well in this report, 20% of the travelers surveyed stayed in a vacation rental in the past two years.  An additional 27% considered a vacation rental, but ultimately chose another option.  Why?  Well, part of it is the misconceptions of our industry, that vacation rentals are only suitable for longer trips and larger groups, as well as vacation rentals not having the “amenities” that hotels offer.  Today, this is not necessarily the case. 

So the good news is that more and more folks are looking at vacation rentals, but the bad news is that still, only 20% of travelers are actually choosing our industry to meet their vacation needs.   How did it get from the 10% that it was 5+ years ago, to the 20%?   And how do we get it from 20% to 30% and more?  Most of us will agree that the national economy hasn’t improved that much.  Unemployment is going back up, and so many people are still out of work.  So why is it that our business is so much better?   I would suggest that the marketing awareness created by these large companies, as well as the internet providing more and more innovation, is finding the average consumer, and we need to take advantage of it.  So some thoughts on how you can get on board:

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Tags: Barefoot, Vacation Rental, Rentals, Rental Market, Rental, Rental Management, Property Management, Property Manager, Property Management Software, Management Software, Competitive Advantage, Rental Software, Rental Management CRM, CRM, Break

5 Crucial Tactics for Maximizing Your Vacation Investment

Posted by Adam Zippin on Apr 24, 2013 4:10:00 PM

Well its that time of year here in New England.  The weather is warming up, people are walking their dogs and running again, and the word vacation is being tossed around with immeasurable ease.  Its spring!  And with spring comes some of the peak travel seasons in the United States.  Families will shell out thousands and thousands of dollars to travel to warm destinations and get a jump start on summer.

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Tags: Barefoot, Vacation Rental, Vacation Advice, Break

The Key To The Golden Rental Number

Posted by Adam Zippin on Apr 9, 2013 4:18:00 PM

Each owner has reasons why they own their property, it is an asset.   Like any asset they have expectations that you need to understand, and while there are lots of expectations, the most important is how much they want to make with the property.  That number is something that you need to know, document, and remind the owner of, every chance you can. Consider your own assets and who you have managing them.  For those of you with a portfolio manager, that manager defended past losses based off the market, and that he beat the market average.  It is the same for your relationship with your owner. 

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Tags: Vacation Rental Management, Barefoot, Vacation Rental, Client Expectations, Rentals, Rental, Rental Management, Property Management, Second Home, Vacation Home, Break Even, Break, Even, Golden Number