If you own or manage a vacation rental then you know that your target market is vacationers. However, there are some overlooked areas of opportunity that you may want to explore. Four areas of opportunity to look into might be corporate or business travelers, relocating persons, displaced people and the fourth group is medical treatment travel.
Many corporate travelers today are looking for furnished rentals. Often the business traveler is on short term assigment to a particular city or region and will need more than a hotel room can offer. While there are extended stay hotels that have a mini kitchen and a bit more room, many savvy business travelers are turning to vacation homeowners for better locations and amenities. Location will play a major role in their choice. Less commute, safe and peaceful surroundings.
Another group that often is overlooked is the person or family that is relocating to a new town or area. Many want to rent a furnished home while they get used to the locale before they purchase a home. Often when owners relocate they will leave their current furnishings at the home that is listed for sale because it is staged and shows better than a vacant home. That is where the vacation rental owner can fill a gap. More relocaters are seeking furnished homes that are turnkey. While most owners and managers lease homes nightly, weekly and monthly it may be wise to fill some of the off season rental months with longer term renters.
A note of caution - be sure that your lease fits your renters. That means a nightly or weekly visitor may have a short form lease or agreement and a longer term tenant may need a more detailed and state specific lease. The income gained during these off seasons can really help to offset expenses. Location will be the starting point for these visitors as they will most likely make their next largest purchase; their home, in the area they rent.
Displaced Homeowners - These are owners and renters that have been displaced due to fire, water damage or natural disasters. You may recall that a few vacation rental websites asked owners to donate housing or reduce fees for renters to help in the aftermath of Hurricane Katrina. Kitchen fires and broken water pipes are the most common reasons for displaced homeowners and renters. A displaced homeowner is looking for short term furnished accommodations until they can get back into their residence. Location is crucial. These renters will often search for listings that are in their normal area of acitivities ie. school, work, shopping etc. “We are creatures of habit and want to stay in our comfort zones.”
Lastly, Medical travelers need a turnkey furnished home nearby the treatment center or hospital. These are individuals or families who need specialized care and there top 3 requirements are location, cleanliness and peacefulness. Often there is recovery time associated with certain treatments or care and they will want to be with a caregiver or family and friends nearby the hospital. Again the location of the rental is crucial.
While the internet and vacation rental websites have created a great way to connect owners and renters there has been a gap in determining the crucial factor of location. There is one furnished rental website that is bridging the gap and providing location as the primary search function for all listed properties. FurnishedHomes.com allows users to pin point their destination of choice and then the site utilizes Google Maps technology to mashup the destination or landmark with those properties nearby. For example, a traveler can type in the address, or zip code or landmark or hospital etc and then they will view properties nearby. No more scrolling through lists and then trying to find out if the property is in a location that is where you want to be. Travelers search for Free and Owners list vacation rentals and furnished rentals free. Advertise vacation rentals free by clicking on this link - FurnishedHomes.com - The Place to Find Furnished Rentals. Putting your home on the interactive map will help you generate untapped revenue with corporate, relocating, displaced & medical travelers. Remember, your vacation rentals do not have to be just for vacationers anymore!
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