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Vacation rental is a term in the travel industry meaning renting out a furnished apartment or house on a temporary basis to tourists as an alternative to a hotel. Vacation rentals have long been a popular travel option in Europe (especially in the UK) as well as in Canada and are becoming increasingly popular across the world. They are often referred to as self-catering rentals or villa rentals. In some cities, like Barcelona, local authorities determined that vacation rentals were becoming a threat to the hotel industry and passed some legislation placing regulations and limits on the industry, while in others, such as England, Ireland, France and Spain, the government promotes and certifies holiday rentals, even offering its own program of holiday/vacation rentals. A vacation rental is a fully furnished property, such as a condominium, townhome or single-family-style home, often referred to as villa rentals in Europe. The client/traveler arranges to rent the vacation rental property for a designated period of time, many rent on nightly basis similar to hotel rooms, although the more prevalent vacation rental industry practice is typically weekly rentals. A true vacation rental is not for sale to the guest; rather, the owner of the vacation rental merely allows the guest to rent the property for a predetermined length of time. Consumers unfamiliar with the concept of a vacation rental may confuse it with the seemingly similar, but distinctly different, timeshare. A timeshare can still be rented as a vacation rental should an owner decide to put his owned week(s) on a vacation rental program. Many timeshare resorts offer quarter-ownership which offers the owner 13-weeks of ownership and, therefore, more weeks to offer for rental. A timeshare is a piece of real estate—often a fully furnished condominium—that is jointly shared by multiple owners. While different types of timeshare ownerships exist, in general, each owner bears a portion of the responsibility, along with the right to a segment of time in which he or she is granted sole use of the property. Timeshare resorts allow financially qualified guests to rent and tour their unowned properties and then make those properties available to the guest for purchase. Timeshare owners can also choose to bank their week with and exchange company such as RCI, or rent the unit Although lower rents for vacation rentals by owner were once the norm, this is not always the primary benefit. Quite often a vacation rental will feature more amenities and features, such as more space, fully-equipped kitchens, sports and beach equipment, games, DVD libraries, books, etc. Owners managing their own properties tend to be more aware of wear and tear and have better cash flow to use to maintain and upgrade the property. Perhaps the primary difference is that vacation rentals tend to offer more space and the advantage of sampling what life in one's destination is truly like for the locals. Many property owners contract a vacation rental management company to manage the business of their vacation rentals. These management companies market the vacation rental property, providing information and photos to guests and handling reservations and billing in the homeowner’s stead. These companies also handle details such as guest check-in, housekeeping and property maintenance. The largest vacation rental property management company in the United States represents nearly 17,000 vacation rental properties and there are many such specialty agencies throughout the world. Guests who book through vacation rental management companies may experience benefits including quality control, housekeeping services, professional reservations agents and on-site or on-call staff.
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