Orlando Vacation Rentals – Why are prices so low?
The Orlando Vacation Rental Market is highly competitive, and prices have been stagnant for well over a decade. In fact, prices have not changed much since we first stayed in a vacation rental in Orlando back in 2003! When compared to just about everywhere else in the U.S. and around the world, vacation rental rates in Orlando are surprisingly low. Here’s why.
It is surprising for many to hear this, but vacation rental prices in the Orlando area are artificially depressed, far below the actual cost of providing them.
To combat this, many Orlando vacation rentals are offered for ‘artificial prices’ which are not really what the guest ends up paying. Or they are sold without explaining in full why and how the guest will be receiving less than they should, or are expecting. Or the properties are offered by owners not concerned with hospitality, but in simply minimizing the losses they are experiencing with their Florida homes… homes which were bought with the expectation of making money but turned out to be a huge financial drain once the real costs are added up.
The truth is that the majority of Orlando area vacation rentals being run into the ground, and at a loss, simply because it is the ‘going rate’ and their owners don’t know any better. Likewise, neither do the guests, until they visit once or twice and have a bad experience due to shopping too much based on price.
Savy travellers have figured out how to tell the difference between an owner who loves providing hospitality and a great guest experience, and one who is simply trying to hang on and minimize their losses. Savy travellers won’t take a chance on paying too little, because they understand that in doing so they are putting their entire vacation at risk, and their own family vacation time and quality of experience are too important to them to take a chance on a low ball offer.
Our guests book with us and relax immediately, because they know they will be getting the ‘real deal’ when they arrive, with a smart, committed owner with quality properties and support staff, dedicated to providing them with a great vacation rental experience.
Do our homes cost more than some others? Sure, but we charge what we do for them because that is what it costs to operate them. Guests who stay with us, ‘stay like an owner’ because they pay the same costs that we do to enjoy our Florida home.
By comparison, similar accommodation is available from Disney just 15 minutes away, for $2500 – $3000. Per NIGHT! That is not an exageration. A two or three bedroom villa, without a private pool, or parking at the door, goes for that much on Disney property, just 15 minutes away. And lots of people book them!
We provide a far superior value to that, and our guests understand and appreciate that. They don’t expect us to compete with properties run by amateur owners trying to cut a few bucks off the cost of their failed Florida dream. Or managers who rent out homes in their portfolio without telling the owners or ever paying them anything for the use of the home! Or those running bait and switch operations, where the home one receives is nothing like the one advertised. Or others who accept low-priced bookings and then immediately go to work to get another booking for the same home and same dates, at a higher rate, only to cancel the booking on the first party due to a ‘maintenance issue’, and once the second booking is received, repeat the process as many times as possible before the dates actually arrive. Or even worse, those properties offered at rates intended to simply dupe people into booking a great deal, only to discover too late that they’ve been scammed and no such property exists!
All of these things go on constantly in the Orlando vacation rental market, and drive prices below the cost of operating.
There are lots of reasons why vacation rental rates in Orlando are artificially depressed. Both savvy owners and travellers alike have figured out how to avoid the resulting chaos, and they eventually find each other. For us, that means that even with our sustainable rates, our properties are booked out as much as 88% of all nights in a year – 25% more than the average.
Our calendars aren’t filled up with low-rate bookings months in advance. Instead we get advance reservations from smart travellers, and repeat guests who have stayed with us as much as FIVE times previously because they know we do things right! Any remaining gaps get filled by guests who want quality, or when we ‘rescue’ travellers who have been burnt by others at the last minute. All of this means that by the end of the year, we’ve been booked more nights than any of our low-rate competition.
It’s funny how some people will take pity on us and think they’re doing us a favour by asking to rent our properties for well below our rates!
Running our properties professionally and efficiently leaves us enough resources to re-invest and improve our properties and keep them up to date. This ensures that as our guest, you will receive good value for your money! That is always one of our top priorities!