10 Reasons To Consider Staying At A Vacation Rental Vs A Hotel
Picture this, you and your friends or family have been dreaming about going for that dream vacation and the time to plan has finally come. Exciting, right?
Your itinerary is set, you’ve booked your flights and now it's time to decide where you'll stay. Most times, people opt to stay in either hotels or vacation rentals. You're torn in between the two and aren't sure what to pick.
To stay at a hotel or to stay at a vacation rental?
With the changing times, the vacation rental market is growing rapidly and vacation rentals are becoming more popular for various reasons.
Why, you may ask? Keep reading to find out more.
- The vacation rental market is growing rapidly and vacation rentals are becoming more popular
- A vacation rental is a property that is rented out to tourists on a short term or temporary basis
- Some of the reasons why you should stay in a vacation rental as opposed to a hotel include: more space; more budget-friendly; and ability to find kid-friendly homes
- Some things to look out for when booking vacation rentals include check-in and check-out times, availability of a parking space, location and amenities
The contents of this article are for educational purposes only. They are not intended to be a source of professional financial advice. You will find experts on financial planning, financial management, and real estate here. More on disclaimers here.
What is a vacation rental?
A vacation rental is a property, be it a furnished apartment, villa, cottage, beach house or condo that is rented out to tourists on a short term or temporary basis.
In 2022, it is estimated that 700 million people globally used vacation rentals. In the US, the short-term rental industry was estimated to be worth $20 billion in 2022.
Now that we have that covered, here are 10 reasons why you should consider staying at a vacation rental as opposed to a hotel on your next trip.
10 Reasons why you should stay in a vacation rental on your next trip
**1. There is more space to relax and get comfortable **
If you're traveling as a large group, you definitely need more space for accommodation. Booking numerous hotel rooms for different people will for sure cost you more money. However, if you choose to stay in a vacation rental, you can book a home or apartment that can fit everyone.
Many vacation rentals have bigger living rooms, common rooms and outdoor spaces. This means that there's enough room for everyone to relax, work and play.
2. You get to save money
Staying at a vacation rental is not only comfortable but also cost effective. When booking one, you and your friends or family can choose to stay at a home that offers more space at a lower price.
With amenities such as a fully equipped kitchen where you can prepare all your meals, a washer and multiple bedrooms, you'll find that it's more cost effective to stay at a vacation rental than a hotel. You don't have to pay for extra things like room service at a vacation rental.
3. It is possible to find the home of your dreams
Whether you're looking to stay by the beach, in the woods or in a remodeled bus, it's a guarantee that you can find a vacation rental that matches your vision. You can literally stay in the home of your dreams!
4. More privacy
For optimal privacy, a vacation rental is your best bet. Staying at a typical hotel room can at times mean being kept awake by your loud neighbors or other guests in the hallway.
With a vacation rental, you have the home all to yourself and everyone gets to enjoy their own space. You can get to enjoy amenities like a hot tub, private pool, balcony or patio depending on the type of property.
5. You have the ability to find kid friendly homes
If you're traveling with children, finding kid-friendly hotels might not be the easiest task. With vacation rentals, you can sift through multiple options to find exactly what you want.
With homes that are kid friendly, you're likely to find all necessary baby and kid items like cribs, high chairs, beach toys, kids toys & books, bottle warmers, sterilizers, child-friendly cutlery, etc.
6. Availability of free Wi-Fi to help you stay connected
Many vacation homes are connected to Wi-Fi, which guests get to use for free. If you're on a work trip or would simply love to catch up on your favorite show(s) then you're good to go.
Compared to hotels, the Wi-Fi connection in vacation homes is usually better and faster. Some hotels typically charge for Wi-Fi, one of the many up-charges hotels incorporate into a stay.
Also if you'd like to completely unplug from all technology, you can ask your host to remove all the modern technology like TV and Wi-Fi.
7. Access to free laundry facilities
Most vacation rentals usually have a washer and a dryer. If a washer/dryer is important to you, be sure to confirm with the owner when booking your vacation. Having easy access to on site laundry facilities can not only save you money and time, but also offer you the convenience of packing less.
*8. Bring your pet
Pets are part of the family too and they can also get to enjoy the vacation.
A lot of rental properties offer travelers the option of bringing their pet. To be safe, inquire with the owner of the home on their pet policies before you book your stay. Also inquire if you'll be required to pay an additional nominal charge.
9. Well-equipped kitchen
Most vacation rental homes come with a well-equipped kitchen. Preparing your own meals can not only be more economical but you can also prepare meals that cater to everyone's needs and preferences.
With a well equipped kitchen, you can be able to cook, reheat leftovers, boil water, make coffee, pack picnic lunches and keep drinks cold.
10. Ease of finding a differently-abled home
If you're traveling with a person who has a disability, you can find and book a vacation home that caters to their needs.
Check in with the host on the facilities in the home to ensure that their stay is nice and comfortable.
Resthaven Properties is a collection of Black-owned luxury vacation properties. Resthaven Properties focuses on acquiring vacation property across the world's best travel destinations for predictable income and appreciation. So far, the luxury properties under the Resthaven Properties portfolio include Resthaven Los Angeles, Resthaven Tahoe, and Resthaven Zihuatanejo.
Resthaven Properties operate under membership options that disrupt traditional lodging and timeshare accommodations by implementing a pay once and use for a lifetime strategy. The team opportunistically acquires properties in the 5-7M range based on the high potential for appreciation and a prime location for leisure travel and intentionally supports diverse vendors in each property.
For more information on the property, get in touch with us here
Things to Look Out for When Booking a Vacation Rental
To avoid any surprises when booking a rental vacation home, here are five things to look out for:
- Check-in and check-out times. You can ask the host if these timings are flexible.
- Availability of a parking space. Most vacation rentals offer a private garage or parking space.
- Ensure that the space is safe for small children.
- Take note of any additional fees that may apply.
- Location and amenities. Countercheck that the home you want to book is in your preferred location and has the amenities that you're looking for.
Going on vacation can actually be affordable
Going on a vacation doesn't always have to be expensive. If you're looking to save some coins and get value for your money, try booking a vacation rental on your next trip for a different experience.
Since you have the freedom of option, choose a vacation rental that is comfortable for you and your friends or extended family where you can get to create new and fun memories together!
Bay Street Capital Holdings
Bay Street Capital Holdings is an independent investment advisory, wealth management, and financial planning firm headquartered in Palo Alto, CA. Founded by William Huston after 13 years of supporting the United States' largest retirement plan ($650B) Thrift Savings Plan, Bay Street was founded to advocate for diverse and emerging fund managers and entrepreneurs.
The firm manages portfolios with the goal of maintaining and increasing total assets and income with a high priority on managing total risk and volatility.