Travel

Vacation Rentals Have Helped People Pay Off their Mortgages

There are so many vacation rental websites available that allow people to list their property for free, that it is hard to miss. From the point of view of someone booking a holiday home, I have had some great experiences with websites such as Airbnb on which I have managed to find deals on places that have had very few reviews. I have gone back to book them again 1 year later and the price has doubled – this is because they have had some great feedback.

When you think about it, the people that own these properties, the hosts on the website letting me stay, must have taken out a mortgage on the place or purchased the place outright. I always wonder why I am staying in such a nice apartment, but why is the owner not staying here? Also, why is the owner renting the property to me?

I travel quite often, so after making my booking for a vacation rental apartment, I start to get quite friendly with the owner because I want to drop the magic question. Why do you rent this place out to vacationers like me?

The answers are nearly always the same. The vacation rental is to pay off a mortgage. The reasons are because the owner’s job moved overseas, the owner is now studying overseas, or this is an investment that was purchased as a pre-build via a mortgage.

Now if you have a look around in South East Asia particularly, pre-build apartments in tourist zones generally advertise a discount of around 25% and sometimes as high as 50%. The investment was too good to turn down as the place was on offer at a cheap rate. Therefore, the plan was always to rent the property as a holiday home to pay off the mortgage.

Along the way, some of the owners have set up their own website that takes bookings online. When it comes to time to leave the website, I am presented with the owner’s website that I am able to make direct bookings on in the future. The prices are generally much lower on the owner’s own website because if I book here, they are not charging 20% fees, which most of the free listing vacation rentals charge. Plus, I should also so save on the booking fee.

I did some more research about how people can get into the vacation rental property market and found this web page: www.lodgify.com resources which explained how using vacation rental software can help get into the vacation rental niche marketplace.

With this industry booming, and plenty of websites as well as software out there to help people manage their vacation rentals, more people are able to own a second home and pay off the mortgage thanks to vacationers searching for accommodation in the area the property is situated.

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I live to write! Anything related to tech news and the future development of our world will catch my attention. I will research information form multiple sources and publish all thew facts and theories I have gathered in a single article for all to digest.

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