| As the winter season approaches in Southwest | | | | recent years is a shift from the typical three |
| Florida, many local rental managers are preparing | | | | month rental to the shorter weekly rental. |
| for the wave of Snow Birds that visit Bonita | | | | Shorter rentals have been mostly attributed to |
| Springs, Naples and Marco Island. The time | | | | the Baby Boomers. Less Americans are retiring at |
| honored tradition of escaping the freezing | | | | fifty, and “Boomers” are working |
| temperatures has slowly changed in recent years. | | | | later into their careers. Today’s snow bird |
| Many factors have contributed to a trend of | | | | is increasingly working part-time if not full-time. |
| shorter vacations geared for a new breed of | | | | This means the typical seasonal guest will visit |
| Snow Birds. | | | | Southwest Florida for only a week or even less. |
| Global Competition | | | | As the competition for seasonal visitors heats up |
| The most notable changes in the vacation rental | | | | in the vacation rental market, rental managers |
| industry have been from the Internet. The | | | | have chosen to cater to visitors focused on |
| Internet has created a global market for vacation | | | | activities like golfing and boating. For an extra fee |
| rentals. On the web, guests can choose from | | | | the rental managers can offer concierge services |
| millions of rental properties from around the world. | | | | and transportation to and from the airport. Even |
| The global competition clearly benefits the | | | | budget minded guests are now expecting |
| traveler. For the rental manager, the web means | | | | amenities like broadband internet and heated |
| that the competition is only a click away. | | | | private pools. |
| Prospective guests can quickly compare rates | | | | Renee Macdonald, a rental manager with Land and |
| between numerous rental homes and hotels, | | | | Sea Vacation Rentals , offers guests amenities |
| leading to very competitive prices. | | | | like golf memberships and beach access. Renee |
| In order to cope with competitive pricing, many | | | | points out that, “Most guest come to |
| resorts and rental managers have unbundled | | | | Naples and Marco Island for the great golf |
| services. By unbundling services, base rental rates | | | | courses and the pristine beaches.” By |
| appear to be lower, but don’t include the | | | | transferring the property owner’s golf |
| usual services provided like linens and | | | | membership or beach parking pass to the tenant, |
| housekeeping. Rental managers have created new | | | | the rental manager can leverage the rental |
| profit centers out of providing services that are | | | | property’s unique features. |
| usually included in the rental rate. | | | | The winter tradition of Snow Birds migrating to |
| Local Competition | | | | Southwest Florida to escape from the cold has |
| Southwest Florida has seen a glut of rental | | | | become more orientated to working Baby |
| properties come on the market. This has been | | | | Boomers and visitors looking for plenty of |
| attributed to the current slump in real estate | | | | activities. Factors like global competition, a slow |
| sales. Many second home owners have turned to | | | | down in the real estate market and a shift in the |
| seasonal rentals as a means to offset their | | | | demographics has all contributed to shorter |
| expenses. The increase in local rental inventory | | | | vacations with more activities. The current trend |
| has resulted in very competitive pricing. This has | | | | of shorter rentals will continue to increase resulting |
| benefited seasonal renters, with typical rental | | | | in a high demand for weekly and weekend |
| rates being as low as 25% compared to previous | | | | holidays. Yet, overall seasonal renters have greatly |
| years. | | | | benefited from the market conditions, with lower |
| Consumer Changes | | | | rental rates and more amenities. |
| Another trend rental managers have seen in | | | | |