Vacation Home Rentals: What You Need to Know About This Housing Trend

Unless you’ve been living under a rock, you’ve probably noticed that the popularity of “vacation rental by owner” (VRBO) home rentals has exploded.

Today, hotels are largely falling out of vogue, and people traveling to new destinations are choosing to stay in private residences rented out for short-term stays instead.

If you’re unfamiliar with this recent trend in home rentals, read on to learn more.

5 Things to Know About Vacation Home Rentals

1. They’re not allowed everywhere

If you’re interested in finding (or jumping on the trend of) vacation home rentals, you’ll need to check local ordinances. As it stands right now, VRBOs aren’t allowed everywhere, as they can threaten or damage the hotel industry.

While experts are calling for 129 million night stays for organizations like Airbnb this year, these home rentals operate on a city-by-city basis and aren’t yet present in every city across the country.

2. They must be insured

For many people, homeowner’s insurance doesn’t cover renting the home for vacation purposes. Because of this, many homeowners who offer vacation home rentals insure them separately in order to ensure full coverage in the event that a tenant causes damage to the property.

3. Cleaning and maintenance may not be included

While the standards differ from VRBO to VRBO, many vacation home rentals don’t include a full cleaning service like a hotel would. Instead, tenants are often required to clean the home themselves before they leave, much like they would any private residence they stayed in during a vacation.

4. Tenants consider VRBOs a good way to meet interesting people

One of the primary draws of vacation home rentals is that they offer the opportunity to meet interesting people. Because tenants in private homes often share space with the people who own the home, they’re privy to insider city information and plenty of local tips about where to go and what to do, all of which can enhance a vacation experience.

5. Many homeowners use VRBOs as a secondary source of income

While many unfamiliar homeowners believe that VRBOs are simply a side gig, the fact is that many homeowners who list their property for vacation rentals make a significant amount of income doing so. In many cases, VRBO rental is a viable way to add income and boost the quality of living.

The VRBO Revolution

As the VRBO revolution continues to take shape, it pays to be informed. These simple facts give you a good place to start, should you become interested in either seeking out or offering vacation home rentals on your own accord!