Free Rental Guide!
Learn what it takes to rent your vacation home and maximize your rental income.
Free Rental Guide!
Learn what it takes to rent your vacation home and maximize your rental income.
Nashville, October 22, 2013
At the 2013 Annual Business Meeting of the Vacation Rental Managers Association (VRMA), Alan Hammond of Holiday Vacation Rentals in Northern Michigan, Board Officer and Treasurer reported that it is an exciting time to be involved in the vacation rental business.
“Record breaking attendance at the Annual conference held at the Opryland Hotel in Nashville, TN is evidence that VRMA is the Voice of professionally managed vacation rentals” said Hammond.
Hammond was pleased to report “that the health of VRMA is well”.
The vacation rental industry holds opportunities for those that have industry knowledge, experience and insight. However, Hammond said there will be risks for some industry stakeholders resulting from the changing landscape of the industry.
Hammond said that Property Managers are faced with challenges and ever increasing costs while they seek ways to maintain margins.
- Software Provider’s vie for Professional Managers business with service models that may work well today but can be outgrown, requiring costly change
- There is a increasing need and expense to Professional Managers to stay current with the latest in marketing, web site development, Search Engine Optimization (SEO) and social media engagement tools and trends
- OTAs and ad portals seek inventory to be listed on their sites, resulting in increased their web dominance and increasing cost to the Professional Managers as charges begin to shift from ad and pay per inquiry to transaction fees that could reach 15% or more
- Guests want more services at lower rent rates
- Owners want higher bottom lines
- And governmental agencies are imposing licensing, taxes, rules, restrictions and bans on vacation rentals.
Hammond was pleased to report that the VRMA board of directors approved increased funding for both governmental advocacy to protect property managers from misguided threats for the well being of the industry, for more educational programming and industry certifications with a new Director of Education!
Alan Hammond is the Managing Director of Holiday Vacation Rentals. Holiday Vacation Rentals is a full service professional rental management company in Northern Michigan.
Alan R. Hammond is the founder and Managing Director of Holiday Vacation Rentals and Birchwood Property Management. He has served as a Director, Officer, and Treasurer of the Vacation Rental Managers Association (VRMA) and holds the Certificated Vacation Rental Manager (CVRM) designation. A recognized industry leader, Alan is featured in the book The Rental Game: Winning with a Professional Vacation Rental Team by Maureen Regan. Read more....
