I never thought I would see the day where the vacation rental industry is actually in danger of becoming obsolete.
For the last 5 years, the vacation rental industry has been growing exponentially, with an increasing number of listing websites and advertising services geared towards owners of vacation rentals, property managers, and vacation rental sales services.
And while it seemed that at the time the sky was the limit, the latest economic downturn proved that perhaps this growing market behemoth was starting to show cracks.
Why in the world would a homeowner rent out their investment property for $100, $75, or even $50 without considering the larger costs involved? Time involvement, wear and tear, and even security issues - does it make much sense for $350/week? But this is exactly what is occurring on advertisement sites such as Craigslist.
Not only is this terrible business sense, but it is undermining the very industry principles that created their business in the first place.
What is it about these issues that endanger the vacation rental industry as a whole? The problem lies in the fact that as vacation rentals become increasingly popular and people become more familiar of the concept, they begin to become complacent.
This leads to risky transactions and generally unsafe practices.
Vacation rental owners are drastically reducing their value of their home as a business entity in the long-run by offering such ridiculous rates.
The short-sighted nature is starting an all-out pricing war between them and their neighbors, where in the end no one wins.
Travelers today are getting spoiled.
Because they can rent out a decent hotel for $50/night, they expect the same type of service when staying at a short-term rental.
But why should they even receive this, and what is guaranteeing this result? The answer is absolutely nothing.
In fact, the adage "you get what you pay for" is probably the most accurate.
"Cheap" doesn't necessarily mean "value", although an increasing number of Americans simply do not understand this.
Bottom line - the consumer is getting ridiculous in their demands and individual homeowners are only perpetuating the problem by their uneducated price points.
The best way to secure your vacation and to ensure that your vacation rental transaction is conducted on the highest level, renting through a vacation reservation service or property manager is the way to go.
Most individual owners do not take credit card payments and operate with cash or PayPal only.
This provides you, the renter, with zero recourse in the cash that something is amiss.
Why take that risk, especially when it is during your precious vacation time? A professional service will take the worrying out of the booking experience, leaving you with the confidence to enjoy your vacation to the fullest.