Thursday, March 08, 2007

New Rating Company for Short Term Rentals

Short term rentals are owned vacation homes, in which home owners can rent to vacationers on a short term basis such as daily or weekly rates, while owners are not utilizing the property. Property management companies maintain, market, and handle guest check in. These vacation homes are very popular in the areas surrounding Disney such as Kissimmee and Davenport and along International Drive. It is estimated that $4.5 billion has been invested in vacation homes by British residents.

According to a recent article in the Orlando Sentinel, many British residents do not know the condition of their property with being 4,000 miles away. A newly established London-Based company called Global Property Audit is now open in Winter Park, Florida, offering services to vacation home owners to audit and rate their rental property. The company's basic service involves 3 annual home inspections and reports on the condition of the property, rating on exterior and interior features. The company's founder thinks a five star property would rent for 12 to 15 percent higher than a three-star property. Other services offered include customer satisfaction surveys and bookkeeping of income on the property. The company is looking to expand in Spain and Italy.