7 Myths About Renting You Should Stop Believing
In today's world renting vacation rentals is a popular trend that many people take part in. If you are like the majority out there, most people don't know what benefits they actually have when it comes to renting a vacation property.
Many travelers believe that there is a lot of red tape and too many unknown factors when renting a vacation home. False. Although there are exceptions to every rule, renting a vacation property usually provides guests with better pricing, full kitchens, and unique locations that alternative lodging just can't accommodate.
1. Vacation Rentals are too expensive
Yes, there are definitely vacation rentals out there that could make a huge dent in your bank account, but that's not usually the case.
When a homeowner decides to rent their property, they are usually doing so to offset the expenses of owning the home. Because those owners are using their homes for only a portion of the year, they typically want their home rented as much as possible in their absence. This plays in your favor as your vacation dates get closer without a booking for the home. Other factors—such as the seasonality of the area in which the home is located, increases in other local rental competition, or discounted last minute reservations— may help you lock in a booking for a STEAL.
2. A Large Security Deposit will be held for an indefinite amount of time.
So you book the home for your vacation and have to hold a large deposit, right?
Some companies still hold to this rule of not renting without a large deposit on hand, but can you imagine what headaches that would cause? Such as-- collecting from each person in your party, dividing it back out after the stay, figuring out who broke what and who's fault it is...etc, etc.
Live the Gulf Coast thinks you shouldn't have to put your hard earned money up as a deposit in order to rent our properties. Our Accidental Damage Waiver is a small up-front fee we charge (between $49-$79) that covers up to $3,000 of accidental damage. That's right, we understand things happen and this is our way of making that awkward situation hassle-free. A simple report of what happened can be filled out after your stay and the damage repaired with no additional money out of your pocket.
3. Vacation Rentals are only for Vacation
This is one of the most common misconceptions we hear from potential guests, but in fact this is our largest growing demographic: Business Travel.
Whether it's a conference or a big corporate event, vacation rentals typically offer the necessary amenities (and then some) that are required for groups of this nature. High Speed Wifi and closer proximity to venues are the most common reasons we hear that business people are using our vacation homes to make their work-life easier and more relaxing.
4. They're not as nice as hotels
Most vacation rental owners are very proud of their homes and go to great lengths in ensuring that their properties are clean and well maintained. Due to the rise in competition, vacation homes have had to up their game when it comes to decor, flexible pricing, cleaning/inspections, and value-add amenities you won't find at your downtown hotel.
Most consider this a business and who wants to deal with the headache of renting shoddy properties anyways? Nowadays, most vacation rental websites provide heavily scrutinized, but honest reviews and force the owner/manger to be at the top of their game.
5. If I need help during my trip, I’ll have to handle it myself
While most companies have very strict office hours and don't answer after those hours, it has been our experience that a great guest experience starts with quick communication.
Although not all issues can be resolved at the drop of a hat, we understand that things happen and usually when it is the most inconvenient.
After a long Summer day at the beach, you come home to the AC frosted over. Even the cool beach breeze can't knock the intense humidity and 85+ degree weather. We guarantee that our staff will answer our phones 24 hours a day and will expedite the resolution of any emergencies that may arise.
6. Rental prices are non-negotiable
We won't lie: You don't typically have much bargaining power when it comes to how much you'll pay—especially in a hot rental season. But each manager is different, and you do have a few tricks up your sleeve.
First, consider renting the property for a longer duration. Property Managers don't usually want to deal with excessive turnover. If you can commit to being in for the long(er) haul, they might be more willing to negotiate the rental price and terms.
Second, consider your time frame. There are typically more rental vacancies in winter or just before/after peak seasons, so property managers might be more inclined to strike a deal at that time.
Finally, arm yourself with info to help your case: Know the vacancy rate for the area based on your dates, know going rates for similar units in the area, and be flexible with your dates as this is hand's down the best way to secure a good deal.
7. You're throwing away money by renting
Sure, buying a home is a 2nd home is an investment. But there are a ton of reasons why renting isn't a bad investment.
It might be better for you financially, you might like having someone on call for maintenance and repairs, or perhaps you simply want the flexibility to switch up your vacation to a popular new area on the outskirts of town. Plus, renting can allow you to find that perfect spot before buying a vacation home of your own.
So the next time well-intentioned friends or family members try to tell you that renting is a bad move, tell them it's a myth—and you can debunk it.