If you currently own or are considering ownership of a vacation home in Winter Park and want to rent it out to offset as much ownership costs as possible, VRBO is something you should definitely consider.
VRBO stands for Vacation Rental by Owner, and it is the one of the original and largest websites for vacation rentals. VRBO.com is part of the HomeAway.com network of 26 global websites where a property owner can advertise their vacation rental directly to travelers.
Why you should consider VRBO
More Money – Renting by owner eliminates the booking commissions of a traditional property manager. Commissions can range between 25 and 50 percent of rental income depending on the property managers contract. A vacation rental can be advertised on VRBO and Homeaway for $1000 per year. You can do the math.
More Control – When renting by owner you choose who rents your property, how often it is rented and what the rental rates will be. You also control when repair and maintenance is performed and what upgrades, if any, are needed to keep your property desirable to renters. Luxury properties are not the only properties that appeal to travelers, a clean, well maintained, comfortable property anywhere in Winter Park has rental potential.
Easy to Do – Don’t let others tell you that renting your vacation home by owner is difficult, its NOT. Yes there is some initial work required to establish your listing and prepare your property for rentals but once you are up and running you will find its well worth it. VRBOcom also offers TONS of online support and a 24/7 customer service call center as well as all the tools to communicate with guests, collect payments and manage reservations. They even offer a mobile app that enables you to book reservations with the touch of a button on your phone!
The time it takes to respond to inquiries is also minimal. Prior to and during the peak rental months you will receive 1-3 inquiries per day on average. It should take less than a minute to respond to a rental inquiry. Most travelers communicate via email and if your VRBO listing is set up properly you will receive very few phone calls. As you book reservations and your calendar begins to fill in, the amount of inquiries will also decrease.
What about Keys, Guest calls and Maintenance?
Choosing to rent your vacation home by owner does come with some challenges in regards to preparing the property between rentals and assisting guests during their stay.
Some things you will need to prepare for are …
Property Access – Guests will need to be able to access the property 24/7 and you will need to enforce check-in and check out times. You will also need to provide access to housekeepers and repairmen when their services are needed.
Guest Assistance – During their visit guests may need to contact someone for general assistance or to report a maintenance emergency such as loss of heat or a water leak.
Housekeeping – Following each stay a professional clean will need to be performed in order to prepare the property for the next guest. You may also need to provide bed and bath linens as well as soap and shampoos.
Repair and Maintenance – Between reservations or during a stay there may be minor maintenance or repairs that need to be performed to keep your property in rental condition.
In most cases an owner can set up a listing on VRBO.com, respond to rental inquiries and confirm bookings very easily from anywhere, the challenges of day to day operations can be harder to overcome.
As an owner you can choose to be the point of contact for your guests during their stay and hire contractors such as housekeepers, handymen and plumbers directly when needed. This adds considerable more time and energy to the notion of VRBO.
Or you can hire a property manager to be the point of contact for your guests. Look after your property and hire contractors on your behalf. Unfortunately not many property managers are willing to do this unless they are able to earn a portion of the rental income.
Book by Owner Resort Property Management is a unique company in Winter Park that works specifically with owners who choose VRBO. We provide services and solutions to help you successfully rent your vacation home by owner and charge only a monthly management fee vs a commission on income. Please contact us to learn more about successfully renting your vacation home by owner.