Free-Rentals Vacation Rentals

This summer is shaping up to offer some of the most spectacular vacation rental discounts and deals ever seen since the industry boomed with 16 years ago with the advent of the internet.

According to the New York Times, here are excerpts in store for this summer’s vacation rental industry:

Part of the reason is that potential renters are waiting longer before they commit, agents say. “People are doing more window-shopping,” said Ryan Swaim, general manager of Dunes Realty in Garden City Beach, S.C., near Myrtle Beach. “They’re pulling the trigger much later.”

While that situation is giving property owners a case of the nerves, it appears to be working in favor of renters. Many Web sites devoted to renting vacation homes on or near the Atlantic have long lists of specials, both short term and for the entire summer, meant to lure the undecided.

In Ocean City, for example, a five-bedroom house that sleeps 16 and has a view of the bay has been reduced from $3,100, to $2,995, for the week of July 4; the house is being rented by Century 21 New Horizon. Ocean City also has a significant condominium market, and many condo units are being offered there at reduced rates.

Farther north, in Dennisport on Cape Cod, a six-bedroom house near the ocean is renting for $1,000 a week less throughout July, down from its usual $6,900; the house is being offered on HomeAway.com, which currently lists around 100 special offers on Cape Cod.

A report released last week by HomeAway, which represents 200,000 vacation properties in the United States, found that about 66 percent of its vacation rental property owners had offered special deals or incentives so far this year in response to the economy.

The report, which focused on the first quarter of this year, found that 27 percent of owners had discounted rental rates by specific dollar amounts, while 24 percent had discounted by a set percentage off their normal rental rate.

Owners are also trying to lure renters by offering an additional night with the purchase of a specific number of nights, cleaning services at no additional cost and by not requiring a minimum stay. Mike Butler, chief commercial officer at HomeAway, said there was a $3,000 property in Wellfleet Harbor on Cape Cod that was offering a $500 discount and two dozen fresh oysters.

Once upon a time, the dynamics of summer rentals were simple. The person who wanted to rent would often book six months to a year in advance, even as three or four other potential renters were checking out the property.

“In years past, if a place didn’t rent by March,” said Mr. Swaim of Dunes Realty, “it wasn’t going to rent.”

While this summer’s holiday season will be flat relative to those in the past due to the global economic crisis, it is clear that at least one person will make out from all this, the vacation property seeker and vacation home renter. So enjoy the low prices while they last.

The blog Orlando Vacation News has just posted 3 main points that vacation rentals offer over hotels. They are in a nutshell:

• Room for everyone without the added cost. Ranging from 2 bedroom condos to 7 bedroom homes that sleep from 4 to 16 people comfortably.

• Fully equipped kitchens that present tremendous savings versus dining out. With vacation rentals, you have the choice to eat when and where you want by making your own meals – all at a fraction of the cost of dining out.

• In-home and community entertainment options as an alternative to costly vacation activities. Going the vacation home route also gives you a variety of entertainment options. With amenities like private pools and spas, home theatres and game rooms plus resort community amenities like large swimming pools, fitness centers and children’s playgrounds, the savings of staying in versus going out every day can add up quick.

When searching for vacation rentals from Latin America, it helps to familiarize yourself with some terms relating to the vacation home industry there. Here are the most important you should know…

Casita is a small one bedroom, one bathroom unit with a kitchenette. Often, a casita is a located on the same property as the casita owner’s home, and sometimes it will be a garage converted to a casita.

Hacienda is the largest of the three descriptions for a home. It is usually a detached single family private home with three or more bedrooms and at least 2.5 bathrooms.

So happy vacationing in your favorite Latin American destination, and hope these terms come in handy.