THE 11 BEST Vacation Rentals in Kennebunkport, Maine (ME), [Country] | (Updated for 2023) (2023)

FAQs

How do I find the perfect vacation rental? ›

In recent years, the vacation rental industry has been one of the fastest-growing sectors of the tourism industry. According to ResearchAndMarkets, the global vacation rental market was valued at $169.9 billion in 2020 and is expected to reach $220.4 billion by 2024, growing 6.3% over the forecast period.

Each episode, the shows three host Jo Franco, Megan Batoon, and Luis D. Ortiz share their top choice for a vacation rental to spend a few nights. Franco's expertise is "Travel" and her goal is to pick the most unique rentals in the world to visit.

Expedia is one of the largest online travel shopping platforms offering secure booking options for accommodation, air tickets, car rentals, cruise ships, and vacation packages. It offers a variety of accommodation types in addition to vacation rentals such as hotels, villas, motels, guest houses, etc.

In order to never have your vacation property feel like a burden, heres my vacation property buying rule: spend no more than 10% of your net worth on a vacation property purchase price (not downpayment). For example, if you net worth is $3 million, spend no more than $300,000 on a vacation property.

Vacation rental owners should look to make no less than a 10% return on their investment. That means your income minus expenses (net operating costs including any mortgage payment) should be no less than 10% of your initial investment per year.

The final answer should be expressed as a percentage. Many investors shoot for above 10 percent when looking at vacation property rentals, but it can vary. In long-term rentals, for example, common cash on cash returns fall between 5 and 10 percent. But, short-term rentals typically signal a higher rental yield.

Overall, during a recession, the short-term rental market can be a risky venture for property owners. They may find it difficult to generate sufficient revenue and may be exposed to additional risks, such as legal and regulatory issues as well as credit risks.

Airbnb competitors include websites like Vrbo, Booking.com, Tripadvisor, Agoda, Expedia, TUI Villas, TravelStaytion, HomeToGo, Plum Guide, and Google. Not all of them are vacation rental marketplaces.

Vrbo offers stand-alone vacation homes only. It doesn't generally offer “shared” spaces like private rooms or more unusual options like campsites. Airbnb offers stand-alone vacation homes as well as shared spaces and even hotel rooms.

Who charges hosts more Airbnb or Vrbo? ›

Should I list on Airbnb and Vrbo? You can list your property on both Airbnb and Vrbo. Host commission rates are 3% for Airbnb and 5% with Vrbo plus a 3% credit card processing fee. If you're registered on another travel rental site then you need to contact Vrbo's listing team to register your property.

When it comes to variety, Airbnb comes out on top. Currently holding 5.6 million worldwide listings, Airbnb provides more opportunities to find a unique reservation versus the 2 million listings on Vrbo.

Vrbo fees to owners are typically 8% per booking. This is made up of a 5% Vrbo manager fee and a 3% Vrbo payment processing fee.

One of the most common percentage-based budgets is the 50/30/20 rule. The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings. Learn more about the 50/30/20 budget rule and if it's right for you.

If managed carefully, a $5,000 budget is more than enough to eat and drink your way across the continent on a 10-day or two-week trip –or perhaps even longer.

“Karen Altfest, a financial planner in New York City, recommends clients spend no more than 15% of their net worth on the value of a vacation property to help reduce their financial stress.”

What Is The 1% Rule In Real Estate? The 1% rule of real estate investing measures the price of the investment property against the gross income it will generate. For a potential investment to pass the 1% rule, its monthly rent must be equal to or no less than 1% of the purchase price.

This is a general rule of thumb that determines a base level of rental income a rental property should generate. Following the 2% rule, an investor can expect to realize a gross yield from a rental property if the monthly rent is at least 2% of the purchase price.

What is a good monthly profit from a rental property? ›

The amount will depend on your specific situation, but a good rule of thumb is to aim for at least 10% profit after all expenses and taxes. While 10% is a good target, you may be able to make more depending on the property and the rental market.

The 7-day rule is a general rule of thumb for vacation rental owners trying to keep the deductible losses to zero for their taxes. If a property is rented for an average of 7 days or less then owners will be eligible for tax-deductible losses.

A good ROI for a rental property is typically more than 10%, but 5%–10% can also be acceptable. But the ROI may be lower in the first year, due to the upfront costs of buying a home.

One of the biggest risks of investing in a vacation rental is not getting the returns you want or need to make it worth. Your goal is to make enough so that you can cover your costs and earn a profit. To reduce the risks associated with buying this type of property, you should crunch the numbers beforehand.

Vacation rentals can be an excellent real estate investment with low barriers to entry and many tax benefits. Given the high demand and prices for specific locations, you're likely to have a property that provides consistent year-on-year cash flow while appreciating considerably in value.

Key Takeaways

Real estate is a great asset to own when the economy is in freefall. A rental property typically acts as a natural hedge in a volatile market. People lose their jobs, earnings, and sometimes their homes when a great recession happens.

Airbnb occupancy trends in 2023. In our latest Short-Term Rental Outlook report, we forecasted average occupancy rates would be 56.4% for 2023. While this is slightly lower than 2022 and 2021's rates (58.3% and 60.3%, respectively), it's still well ahead of rates in 2019 and 2020 (53.3% and 52.9%).

The Poconos, Pennsylvania

The Poconos has been rated as one of the most popular Airbnb destinations for a number of years running. One of its major attractions is that it's very accessible to travelers from multiple states which helps to ensure great occupancy rates throughout the year.

Which is safer: Airbnb or Vrbo? While both services take steps to ensure their guests' safety, Airbnb carries greater risks since they allow travelers to stay in shared spaces.

Can you negotiate prices on Airbnb and VRBO? ›

The short answer is yes, you can negotiate your Airbnb stay. To do so, simply contact a host to ask for a discount or propose a lower price. Then the host has an opportunity to provide a special offer that's only available to your account.

Vrbo is often cheaper than Airbnb because its service fee is typically lower. As a test, I compared prices between the same property on both Vrbo and Airbnb. Using a vacation rental in Kelowna, Canada, I went through the booking process for a two-night stay, and looked closely at each guest service fee.

The service fee is a percentage of the total amount of the reservation, excluding taxes and refundable fees paid by the guest. This fee helps cover the cost of secure transactions, product development, and 24/7 customer service.

A 5% commission fee is charged on the rental amount and any additional fees you charge the traveler (such as cleaning, pet, and boat fees).

The host pays a flat rate of 3% of the total booking cost and the guest pays a percentage of their reservation fee (this is somewhere between 5-20% depending on the length of stay, the location, and the cost of the reservation to start with).

Yes, listing your vacation home on Vrbo is a good way to make money. Not only is it one of the most popular vacation rental sites in the world (attracting 15.9 million visitors each month), Vrbo also cross posts its properties to fellow Expedia-owned sites. Think Expedia.com, Orbitz, and Travelocity.

Yes, Vrbo is a legitimate online vacation rental site. As with any vacation rental site, pay attention to amenities, reviews and cancellation policies. Anya is a freelance writer and full-time traveler based in Salt Lake City.

Vrbo offers a 14-day window for canceling annual subscriptions should you switch to the pay-per-booking model. The annual subscription fee is $499. The yearly subscription could be a cost-efficient payment model if you have a high-value property and plan to earn more than $6,250 annually.

Is Vacasa the same as Vrbo? ›

Since Vacasa is a full-service property management company, they list their clients' homes on multiple platforms, including their own website, Booking.com, Vrbo and yes, even Airbnb.

HomeToGo is one of the most popular vacation rental search engines for finding rentals listed across different platforms, such as Airbnb, Vrbo, and Booking.com. By typing in your destination and budget, HomeToGo will bring up hundreds of available listings that you can click on and browse.

Airbnb is home to over 5.6 million listings and over 4 million hosts across the world, enjoying a total of over 1 billion guest arrivals, making it a must-have for any host.

In the Reservation And Online Booking market, Expedia has a 9.44% market share in comparison to VRBO's 1.18%. Since it has a better market share coverage, Expedia holds the 3rd spot in 6sense's Market Share Ranking Index for the Reservation And Online Booking category, while VRBO holds the 9th spot.

If it's a resort or hotel, call the front desk to verify the information. If it's a private home, check the name of the property owner in public records. Don't pay for rentals by wire transfer, prepaid or gift cards or apps like Venmo. These types of transactions can't be reversed if the rental offer is fraudulent.

“Linen par” is a set number of linen that a vacation rental should have on-hand at any given time. To simplify, the magic number is three; meaning three fitted sheets, three flat sheets, three pillowcases per pillow, and three towel sets for every guest.

Accommodation type

Vrbo offers stand-alone vacation homes only. It doesn't generally offer “shared” spaces like private rooms or more unusual options like campsites. Airbnb offers stand-alone vacation homes as well as shared spaces and even hotel rooms.

How do I make sure I am not getting scammed on a rental? ›

WAYS TO AVOID RENTAL SCAMS

Do a title search to see who the names of the actual homeowners are on title. Request a property showing before completing any forms or applications. Check if the owner has a recent Notice of Default or says they are doing a loan modification. Stay clear if so.

It really depends on your financial situation, your time commitment and what your vacation goals are. If you've already found your dream destination and you're ready to live like a local, second home ownership can be very rewarding. For purely short-term fun, less money and no commitment, renting can be a good option.

Extra space to enjoy

This is especially beneficial for those traveling with children, large groups, or pets! Vacation rentals offer extra space that is hard to come by in hotels- like separated living, sleeping, eating, and outdoor spaces. This lets your group fully relax and enjoy each others' company peacefully!

Ease of Cleaning: White is our preferred choice for bed linens; they're easy to clean, and you can bleach them. However, any color can work, as long as the sheets are machine-washable.

white towels are 100% the best color. What is this? Using white towels give you the option to bleach them if there are stains. If you buy towels that are stiped or another color, bleach will probably stain them.