With vacation costs on the rise, learning where to potentially save money should always be a top priority. Working as a main competitor to hotels, vacation rentals can offer you a more personal vacation by allowing you to stay in the residential area of your destination. There are a number of different types of rentals available to travelers, ranging from modest to fancy, that help to ensure your next vacation is one to remember.
What is a Vacation Rental?
Companies like Airbnb, HomeToGo, and HomeAway put vacation rentals on the map, but this industry was around long before these companies. In short, a vacation rental is simply a private accommodation that is rented by tourists for a temporary period of time, and is often the preferred alternative to hotels or hostels when traveling.
Factors such as increased privacy, amenities of a residence, and integration into the community of the vacation destination are all reasons people choose to stay at vacation rentals. There are also a range of rental types to choose from. For example, luxury vacation rentals at Harbor Island Beach Club in Florida feature numerous amenities including heated pools and community spaces, whereas other vacation rentals will simply be the domicile itself.
This variability allows travelers to essentially pick how many amenities they wish to have during their stay, with the overnight price fluctuations based on this, among other factors.
Types of Vacation Rentals
When looking to book a vacation rental, it’s perfectly natural to want to stray from the norm. Some people don’t like using Airbnb because they prefer the experience of staying in a hotel, as it feels unique to staying in a home which they already do. Fortunately, there are a number of different types of vacation rentals available, along with homes:
Homes
Likely not a surprise, homes are the most common type of vacation rental and must be covered as a result. In fact, 54.5% of vacation rentals listed are homes, driven by an increase in renters looking for large spaces when traveling with friends or family. When you rent a vacation home for a short-period of time, the parts of the home and amenities of the home you have access to is up to the owner. Due to this variability, prices for vacation rentals that are homes can fluctuate.
Condos
Condos are another popular choice for vacation rentals. Many people often purchase condos in vacation towns for the sole purpose of renting them out to tourists. With slightly less space than a home, condos are usually better for smaller families, groups of friends, or couples who don’t need as many bells and whistles as those coming from a house rental.
Townhouses
In international cities where townhouses are more common, and even in some domestic cities, there is a major market for this type of vacation rental. The only downside to this type is that you share a wall with neighbors on one or both sides, meaning there are often noise regulations in place.
Villas
For those unfamiliar with what a villa is, it is a one-level structure that often comes with an exterior patio, and it may share a wall with another villa. It is designed to house a single-family, which means space is smaller than a standard house. While these are not as popular for vacation rentals as others on this list, they are still extremely common.
Pros of a Vacation Rental
There are a number of benefits to staying in a vacation rental as opposed to a hotel or hostel that should be considered:
- Increased privacy compared to a hotel
- Private amenities might be available
- Potentially the option to extend a stay long-term
- You can stay directly in the heart of wherever you’re visiting
- You’ll have more than one room
With nearly 1/3rd of bookings during seasonal travel periods being with a vacation rental, it’s clear that the above benefits are strong enough to sway many from the standard hotel stay.
Cons of a Vacation Rental
On the other side of things, it’s important to look at some of the potential cons of staying in a vacation rental:
- No support staff on site like with a hotel
- You need to clean up after yourself
- The owner may require you to bring certain items such as bedding
Following the pandemic, Airbnb booking dropped by 30% due to rising prices and requests from owners of vacation rentals. Read the terms before booking a vacation rental to ensure there aren’t too many extra requirements that will make you upset on your vacation.
Create your dream vacation wherever you go
Your ideal vacation may only be a step away if you use a vacation rental as opposed to a hotel. In some less traveled destinations spots, there may not be a large hotel presence, but vacation rentals can help you stay where you want to go. Cut costs without cutting parts of your vacation experience out.
