Vacation Rental Prices
With the number of weekly rental properties vacant in high season for 2009 do the rental management companies need to revisit their pricing structures. No longer will the printed, set in stone prices at inflated rates. Families are wondering where their next paycheck will be coming from let alone spending a fortune on an overblown rental house. Some vacation homes have so many rooms that you would need to get together with several other families to justify the rental costs. They are usually big enough that you don’t have to be worried about running all over each other.
You can also find bargains if you don’t absolutely have to have the big rental inflator “ocean front” properties. With the average occupancy levels down as much as 25-40% across the Eastern seaboard, rental management companies should be doing something to change the trend. All of their property owners, especially ones with the newest construction dates, have their own mortgages to meet and if their properties aren’t rented they aren’t going to meet their own obligations.
It seems to me that by reducing rental rates for a limited time would make sense just to be able to get something in for their owners. 50% of a real rental is better than 100% rate when it is vacant.
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