The short-term rental industry – Definition (1)

Written by Arnaud on the 01. of May 2009  |  8 comments

Some call it the «vacation rental», «self-catering» or the «hometel» industry but at HouseTrip we like to call it the “short-term rental industry” because we find it to be the most gathering expression.

Indeed, in our view, the industry can include a lot of different lodging scenarios of which a few examples follow:

Maison de style breton

Home owners with a self-catering cottage next to their main residence

Woman on couch

The student who makes his/her guest(s) sleep on his/her couch for a few days

Breakfast on a bed in a hotel room

Hosts who professionally run a bed & breakfast

the french riviera

Owners of a second home, who decide to rent it out when they leave it vacant

Artistic work of my own in retro style - Bedroom

Hosts with a free bedroom which they decide to rent out

Considering the above, the main characteristics of this industry are the following:

  • Peer-to-peer: in most cases, it is “real people” dealing with fellow “real people”
  • Different levels of professionalism: spaces can be rented occasionally like they can be rented on a full-time basis by professional hosts
  • Diversity: short-term rentals are always full of – good – surprises, not one rental experience resembles another
  • They are everywhere: they are virtually at every inhabited place on the planet
  • They are homes: it might sound like a platitude but, contrary to hotels, rentals where thought, designed and often are authentic homes with all their attributes
  • They are social: whether it is because guests go there with their friends or family or because they are welcomed in a social environment, short-term rentals have strong social characteristics
  • They are local: if you stay in a Paris flat located in a local neighborhood (say the Latin quarter) or New York at a New Yorker’s, you can really get a taste of the local culture; something you could never experience if you stay at a hotel
  • Their prices vary: short-term rentals can cost as little as 15? a night if for instance you stay on a couch, to thousands of euros would you rent a flat in Monaco during the formula 1 race

The HouseTrip team knows this industry and our website is designed by taking all the above facets into account:

  • We reduce the intermediaries and the steps between hosts and guests
  • It is very simple to use, yet has numerous features, to please all hosts and guests’ levels of professionalism and dedication
  • It will be the one place on the internet where rentals are described as extensively as possible, as to get a “taste” of the experience before actually staying there
  • HouseTrip will be multilingual as to encompass the international dimension of rentals: we aim to have rentals virtually everywhere
  • HouseTrip understands that each rental is also an unique home and tries to convey that through its website
  • HouseTrip boasts plenty of social features that will help its users communicate around short-term rentals
  • Our website understands this local dimension and will try to convey the local experience you will have during your stay
  • HouseTrip will have a revenue management system included: hosts can choose to have their prices adapted to the demand during certain periods, creating a win-win situation where guests can find the best possible deals and hosts can determine which price their guests are ready to pay for the period

We can’t wait to introduce you our website – released in mid-summer – and until then please don’t hesitate to ask us all the questions you ask yourselves on the project. You can also register your email to be the first ones to know about the release!

Comments

8 comments for “The short-term rental industry – Definition (1)”

  1. Julie Roberts
    Julie Roberts am 02.05.2009 um 18:59

    This is a very good summary of the different types of short term vacation rentals. We really believe more than ever now with our ecomony in a recession, that staying in a vacation rental is an affordable and very pleasant alternative to paying high hotel rates.

  2. Claude
    Claude am 04.05.2009 um 12:01

    Great post Arnaud,

    The rental industry is a huge market compare the hotel industry.
    As the Housetrip team, I believe we can transfert some know-how and technic from the hotel industry to the rental industry.

    revenue management system and some owners training can booste the business of many owners!

    Other leverage is “They are local” as you say. Many owners have a incredible know how about their tourism destination, their cities attractions, the best think to do, etc.

    That’s mean exclusive content and usefull informations for the customers guests.

    Best regards

    Claude

  3. Arnaud
    Arnaud am 04.05.2009 um 12:09

    Thanks Julie and Claude for your comments!

    Yes Claude, after HouseTrip is launched I really wouldn’t understand why anyone would stay at a hotel anymore when traveling ;-)

    All the best,

    Arnaud

  4. Garri
    Garri am 05.05.2009 um 10:55

    It’s hard to comment as I haven’t seen House Trip yet ;-)

  5. Arnaud
    Arnaud am 05.05.2009 um 10:58

    Very soon Garri, in August ;-)

  6. Brian Whelan
    Brian Whelan am 11.06.2009 um 23:11

    Hi,
    I’ve read with great interest your view of combining all accommodations to offer a wider choice to discerning travellers – it’s what we’ve been trying to do here in Dublin for years – I’d be interested to hear views.
    http://www.freewebs.com/dublinaccommodationsalmara/index.htm
    Brian Whelan (Manager)

  7. MichaellaS
    MichaellaS am 22.07.2009 um 00:04

    tks for the effort you put in here I appreciate it!

  8. Spoca
    Spoca am 30.09.2009 um 22:48

    right i added my yahoo account to hotmail so all the mail would go through hotmail … i deleted the yahoo account because i found something else but i still get mail going to my hotmail account how do i stop this if i have already deleted the folder

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