2009 Bookings

Can anyone tell me when it will be safe to come down in the Spring? 😀 I need to block my time and want to miss the BIG Spring Break times.

I've seen more people interested in booking earlier than usual. I usually don't see inquiries til Jan. or Feb. but then book up real fast. One thing I've noticed is that folks are nervous about booking a place that may go into foreclosure or short sale. They are watching the mls and backing out if they see your house show up for sale. I've already been contacted by folks that had a place rented but it's now in foreclosure. I know there are a lot of people not paying their mortgage, but still renting, in hopes of getting ahead while they wheel and deal with their mortgage company for a better loan.

Can anyone tell me when it will be safe to come down in the Spring? 😀 I need to block my time and want to miss the BIG Spring Break times.

Anytime, I think the spring breakers would be more afraid of you. ;-):wub:😀:wave:

2009 Rentals

We raised our rates for 2009 after holding off the last couple of years. Summer is booking up faster this year than last, and we are starting to get inquiries for Spring break/Spring. Looks like we will be unaffected by the economy as far as bookings go.

I've seen more people interested in booking earlier than usual. I usually don't see inquiries til Jan. or Feb. but then book up real fast. One thing I've noticed is that folks are nervous about booking a place that may go into foreclosure or short sale. They are watching the mls and backing out if they see your house show up for sale. I've already been contacted by folks that had a place rented but it's now in foreclosure. I know there are a lot of people not paying their mortgage, but still renting, in hopes of getting ahead while they wheel and deal with their mortgage company for a better loan.

The foreclosures are a major concern now. Especially people booking through VRBO. Many are going to go ahead and rent from agencies because if the unit they reserve well in advance goes into foreclosure, then more than likely, the rental agency will have alternative accommodations to offer. People are concerned because if they book early, their CC only gives them a limited amount of time to dispute the charges.

Wonder what can be done to reassure these folks?

My 2009 bookings are way behind last years pace. 2008 was a record for us so getting close to that would be fine. I am hoping people are just waiting a little longer before putting down a large deposit. At this time last year we had 10 weeks of summer booked. Currently we have 5 weeks for 2009 summer

The foreclosures are a major concern now. Especially people booking through VRBO. Many are going to go ahead and rent from agencies because if the unit they reserve well in advance goes into foreclosure, then more than likely, the rental agency will have alternative accommodations to offer. People are concerned because if they book early, their CC only gives them a limited amount of time to dispute the charges.

Wonder what can be done to reassure these folks?

I wish I knew. I work with rental taxes, and I'm not feeling real assured lately. :blink:

I'm doing a financial model that evaluates the expected cashflow/outlay on rental property In WaterColor. Does anyone know what annual gross rents would be for a 4bed house in Cypress Cove (WaterColor)? Also, should I assume a 27% - 30% agency commission?

I'm doing a financial model that evaluates the expected cashflow/outlay on rental property In WaterColor. Does anyone know what annual gross rents would be for a 4bed house in Cypress Cove (WaterColor)? Also, should I assume a 27% - 30% agency commission?

40% if you use WC. :shock: 😀

Is their 40% worth it compared to other agency's who might charge a lower rate?

Is their 40% worth it compared to other agency's who might charge a lower rate?

Such a good question. We have only used WC to manage our place since 2002, so I have nothing to compare it to. What I can tell you is, that as an out of town owner it has been worth the extra % to us for the peace of mind.

Interesting discussion! I'd be interested to know how that cash flow works out with a management company in the mix. I do my own cash flow and income statements every year, and if I had to pay a managment company, they'd make more on the rental than I would as the owner, which just seems wrong! But maybe they provide services to lower the other costs....I don't want to hijack this thread, so I will start another on the services of mgmt companies, since I really have no idea what it is they provide for their 40% slice.

In reply to the original thread, we have about 1/4 of our expected 2009 bookings so far, which is pretty early for us, but I do have to say we have repeats from last year for some of that.

Welcome aboard, DAF! :welcome:

I was with WC rental program but now with VRBO (and much happier)

My rentals are down for the upcoming season and a lot of bargain hunters. Been asked to significantly lower my rate. Have not jumped on those as of yet. Others getting similar requests?

Bookings are right on pace with last year, which was our best ever. Bookings did start off slower, but have really taken off in February. No rate increase. Traditional discounts to returning guests depending on the number of years returning. Lots of discount requests, most are not even reasonable enough to consider, none given. Would consider major discounts on last minute bookings if the week was available, but not too many summer weeks left.

We self manage, book and advertise. Actually a lot less stressful as well as less expensive.

Bookings are right on pace with last year, which was our best ever. Bookings did start off slower, but have really taken off in February. No rate increase. Traditional discounts to returning guests depending on the number of years returning. Lots of discount requests, most are not even reasonable enough to consider, none given. Would consider major discounts on last minute bookings if the week was available, but not too many summer weeks left.

We self manage, book and advertise. Actually a lot less stressful as well as less expensive.

Our philosophy runs along the same lines as you. So many people are asking for discounts this year! I feel so magnanimous when I offer them, like Lady Bountiful. :lol:

Most of our guests want to rent our home for a week-and-a-half, especially the return guests. It has been quite a puzzle, but it is working out. For example, we normally are there for a week in June. But to accommodate a previous guest who wanted the house for longer than a week, we'll have half a week in June. That's great news in this economy!

Normally our July rentals don't come in until early April. And then it fills up very quickly.

I admit that I don't regularly check with WC to see if we are rented, but I did check the other day to see about the week before Easter...get this...we are NOT rented, yet! :blink: WC told me they are still booking that week, so it may change. Other than that weird blip, we have had a good season. I am shocked, but I'll get over it if it means we can come earlier than planned. 😀