Vacation rental investments have been growing in recent years, with the industry’s global revenues reaching a dizzying 169 billion dollars at the end of 2018. Almost half of all surveyed investors believe that now is a great time to get into vacation rentals. But while it may seem like quick, easy cash, you’re still running a business. You need to know how to best position your property, how to secure it, how to find travelers, how vacation rentals will change your tax obligations, and more.
Peter L. Allen and Robert Rosenstein of the online travel agency Agoda Company believe that vacation rental properties are the new frontier. To better serve this market of new, ambitious vacation rental property owners, they’ve written and recently published a book, “At Home Around the World,” to address the questions and needs of this growing, global market. The book is a VRM’s beginner guide to everything you need to know about vacation rentals.
What can you expect to find in the book?
The book addresses some of the most common questions that vacation rental managers have broken down by country and location. The book is written to serve a global market, so you can find information on laws that govern vacation rentals in specific countries. In the guide, you’ll find tons of helpful information about the global vacation rental market backed up by current and relevant statistics, such as how much the average host can expect to make with their vacation rental in a given market. Readers will also enjoy a book with an easy-to-navigate and read layout, where statistics are broken down into pie charts and colorful graphs.
The guide also offers insight into the benefits, pros, and cons of hosting a vacation rental. Although it is a booming market, this business is not for everyone. If you’re on-the-fence on whether or not getting in this business is right for you, the guide can help you narrow down your focus and weigh your options more accurately.
Also, you’ll find information on what guests expect from local vacation rentals. These insights are backed by surveys, current statistics, research, and anecdotes. When you know what guests expect, you can better serve your market and make your vacation rental business a success. If you’re struggling with how to position your vacation rental’s unique value proposition, and how to tap into the market, this guide can help.
The guide also breaks down things like service fees, how guests pay for accommodations, and how to set up billing for your company. It also covers things like property management services, and if it makes more sense for you to either rent out a specific area of your home or rent the entire house.
Are you unsure of how to prepare your home for guests? The book also covers this in detail. Based on current industry research, the guide will tell you what travelers expect when it comes to accommodations, decor, services, and amenities.
Is the guide helpful for other players in the local host industry game?
Yes, the Agoda guide also addresses questions and concerns from guests, neighbors of vacation rental properties, and local governments. While the majority of the guide is geared toward addressing hosts’ needs, community members, travelers, and government agencies are also affected by the growing local host industry. The guide offers a comprehensive, highly researched, and detailed 360-degree view of the vacation rental business. Whether you’re an owner, a guest, a neighbor, or a government employee, the Agoda VRM Beginner’s Guide can answer your questions and provide valuable insight into this rapidly changing and expanding niche.