RentalsWorldwide is the first portal to converge the lucrative vacations rentals market with an equally and potentially more valuable long-term residential rentals market within a single online community. Both rental streams operate within clearly defined channels. The portal also sweeps in an additional natural extension to vacation rentals - yacht charters.
Recently launched with over 250,000 affiliated vacation rental properties and more than 1,000 direct property listings, the portal is ramen positive.
The residential long-term rentals channel is aimed at accelerating a direct landlord to tenant model for properties with a minimum lease period of 12 months. The benefit to owners is a much lower transaction cost than through traditional real estate agents. Landlords simply “go direct” to potential tenants at a fraction of the cost. Founder, Martin Phillips, believes that there is a significant crossover between vacation and long-term users on a global scale.
RentalsWorldwide has clearly tried to differentiate itself from other vacation rental property websites by additionally leveraging the long-term rental market and introducing a yacht charter option. In addition, property owners can choose a unique optional feature by flagging their rental property for sale, dealing direct with potential buyers.
“We are developing a truly differentiated global rental marketplace and experience that provides a total rental solution. Our users can find a place to stay and a place to live”, says Phillips.
“Going forward, we will offer a multi-language capability, specific insurance products, direct flight bookings and car hire as we expand and develop the vacation rentals channel”, he confirms.
Creating a safe and secure community is a priority for the company. Property owners must be verified using an official ID and the latest face recognition technology prior to a rental property being posted. This is part of the company’s system to reduce the risk of fraudulent activities and to protect the user community. In addition, by working closely with the PayPal solutions team, vacation property payments have been streamlined and are auto released to property owners 24 hours after the scheduled guest check-in time. This provides an additional level of security and comfort to guests as they have time to arrive at the property in advance of the release of their payment.
The portal provides members with sample English standardized vacation rental agreements and generic long-term lease agreements and a number of useful eGuides.
Phillips firmly believes that there will be an online convergence of the short-term and long-term rental market. Value added services such flight bookings, tour information and car hire will also be integrated into a seamless service offering for those booking a vacation property. “Our ambition is to converge these needs into a simple to use, cost effective and efficient market place that leverages the best tech innovations available”. That may come at the further expense of not only the hotel industry but also the real estate agents.
Source: Press Release