18 beachLIFE TRAVEL RISE OF VACATION HOME RENTALS
managers charged with overseeing not only the care , but the marketing of the homes in their portfolio . Some , however , were managed by the owners who would maintain and clean them between stays and market them in various newspapers .
The trend industry-wide , however , has always been toward the “ professionalization ” of the vacation rental space , with property management companies delivering evermore sophisticated levels of services to both homeowners and guests .
The trend would help yield solid , steady growth over the years . It would also position the industry up for what came next . In the mid-1990s , along came the internet . From that moment forward , the vacation rental market would never again be the same .
A BRAVE NEW WORLD
This new era would introduce the world to the online travel agency , or OTA . Vacation Rental by Owner ( VRBO ) launched in 1995 and is widely considered the first platform of its kind in the vacation rental space that electronically connected homeowners with guests . Home listings included photos and detailed property information , along with availability and rates .
Since then , innovation and authenticity have been the industry ’ s watchwords .
Perhaps the most creative example of this was a company called Couchsurfing International which connected travelers looking for a brief stay with homeowners who were willing to let them camp out on their sofa for a few nights . The homeowner got to meet out-of-towners . The traveler got to connect with an actual local who could offer them the thing they prized above all else — local knowledge . The homeowner knew the best pub , the public transit schedule , the must-see stops that didn ’ t show up in guidebooks .
Couchsurfing aside , mainstream companies would be the change agents throughout the broader industry . And dizzying change was on the way .
The year 2005 saw the launch of HomeAway , an OTA formed through the merger of several vacation rental sites that would acquire VRBO the
“ Our guests were looking for a vacation experience they could customize to the needs of their family — from specialty services to rental equipment delivered prior to arrival .”
— Trisha Severs . Project Manager , 360 Blue