The short-term vacation rental is a newer concept that has become increasingly popular over the last five years. Popular home share websites are Airbnb, HomeAway, VRBO and Housetrip and one recent study indicates that the private accommodation market outperformed the total US travel market in 2016, and could be worth more than $36 billion this year in 2018.
If you are considering lodging options for your next vacation or future vacations, are you thinking about investing in a vacation rental or jumping on the home sharing website train? Private lodging such as home sharing options like Airbnb are not without their risks. Here are some of the key points of timeshare vacation investments and home sharing options so you can evaluate what makes sense for you.
- How home sharing works
Home sharing services work by creating an online platform for owners of properties to rent them out for short or long term to potential travelers. All the services, prices and amenities available at the property are spelled out, and you check calendar availability to request a reservation. You would then receive your confirmation (or be declined if property is already booked), and your credit card on file is then processed for either a full payment or partial deposit.
- Home Sharing Rentals: Is it safe?
The age group of 18 to 44 year olds makes up the majority of renters who enjoy the home sharing service option. Although it can be a good option to find lower prices and a more authentic travel experience that so many are searching for, there are major downsides you should be aware of. Sometimes the advertised property does not turn out to be quite what you were looking for, since you are booking based on photos and descriptions alone and some dishonest owners may not represent their property accurately. If this happens, you may arrive to your property and find it lacking in cleanliness, furnishings or another issue. Depending on the owner, it could be difficult to resolve the issue if the owner is not attentive to your complaints. An upside is that an online rating system exists so you can review the property after your stay in order to helps travelers know what to expect at the property. Likewise, the hosts can also review travelers so that that other owners can avoid unrespectful renters who damage properties or leave them in disarray. Another potential risk is that you may pre-pay for a property that is not even available. There are reports of fake owners that have illegally listed properties out to rent and unsuspecting travelers paid for a service that was not provided. It is also best to only book properties that have good reviews so that you can prevent a disaster vacation!
- The Benefits of Timeshare Investment
Timeshares eliminate the potential risks and disappointments that may occur when you book a vacation rental using a home sharing service. With timeshare ownership, you know what to expect in terms of cleanliness and quality at your property which makes vacations that much more enjoyable. Another benefit of a timeshare is the access to competent concierge, courteous staff members, and diligent house cleaning staff as well as so many other on site services such as restaurants, pools, gyms and spas that are just not available when you book through a home sharing site. Timeshare staff prides themselves on having excellent customer service, and are always willing to assist timeshare owners with any issues or concerns they may have during a vacation. In addition, they are ready to help make reservations, arrange tours, and even book transportation to and from the airport. You are left on your own to make any and all arrangements and activity bookings when you stay at a home share rental.
In conclusion, both home sharing properties and timeshares are workable options for today’s traveler. Home sharing properties may excel at providing a more authentic local experience, but be aware it does not come without risks. Timeshares, on the contrary, offer trustworthy, reliable vacation properties as well as excellent amenities, services and a dependable level of comfort and quality that won’t disappoint. Which vacation rental option makes the most sense for you?