The cabs are here
It's a tough thing to envy when your shrill housemates are yelling at the top of their lungs at 3 a.m. or leaving torn Ed Hardy shirts and similarly shredded hair extensions for your to clean up the morning after their brawl, but proximity to beaches and bars are a coup for any vacation rental property.
TripAdvisor notes that 47% of the vacation renters it surveyed say they plan to stay in beachfront villas this year, making them the most popular rentals of the year. Not surprisingly, 49% of vacation property owners told HomeAway that they would buy a beach property if they could buy another vacation home today.
Unless you're wearing Snooki-sized Hubble Telescope-lens sunglasses bedazzled with rhinestones, it's not hard to see why property owners would make the upgrade. The average cost of renting a three-bedroom house on the beach in July is $3,250 a week. Set that property back a third of a mile from the beach and that price drops to $2,596.
It also helps to be someplace where the bars and clubs can outnumber the beach chairs, as TripAdvisor's Hudepohl notes that Cape Cod, Mass.; Myrtle Beach, S.C.; North Carolina's Outer Banks; and Alabama's Gulf Shores are among this year's hot properties. With 8% of HomeAway property owners considering their homes "convenient" and 5% declaring themselves in the "middle of the action," there's of room at the party for property owners looking to step up their game.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV