Lake Tahoe Vacation Rental Industry

November 22, 2009

From Perspective of Local Property Manager

So the economy has crashed, and we are experiencing a recession – so what is it doing to the ?  That’s a good question that many are asking so here are my thoughts as a local property manager with experience working in this immense local industry.

The recession has folk certainly watching their budget more, and cutting back their expenses and unfortunately vacation is one for the expenses that can be avoided.  This is inevitable and it is certainly having an impact on our local industry.  I have spoken with other reservation agents that are several hundred thousand dollars behind in booking fees in comparison to the year before.  But considering the down economy and the uncertainly in this economic climate, there are some things that are working for the Lake Tahoe vacation rental industry.

In fact, I recently read something that said Lake Tahoe was one of the best vacation destinations in this economy.  Why?  Well for one, Lake Tahoe is located to some major population centers.  2 hours from Sacramento, 3.6 hours from the San Francisco bay area, and only 7 hours from Los Angeles.

Many families are no longer traveling abroad, postponing trips to Hawaii, Mexico, Europe and beyond.  Instead, they are often driving to more local destinations in an effort to reduce costs while still ‘getting away’.  In addition, Tahoe offers both winter and summer recreations that are unique to this area.  World-class skiing, and world-class outdoor activities will always lead people here for vacation.  Moreover, vacation rental are quickly becoming a more mainstream way of traveling and lodging, creating a situation where the Lake Tahoe vacation rental industry will continue to triumph.

One factor that should be quickly addressed is that many second homeowners here in Tahoe have turned their property into a vacation rental because of the economy and a need for an additional income.  This has flooded the market with vacation rentals so it is as important as ever to be working with a solid team of local service providers, and do what it takes to give your property the edge it needs to rent well.  That is a topic of discussion for another post.

As a local manager, I expect this winter to be great.  Reservations are pouring in, and the forecasts for the winter are strong, expecting above average snowfall.  This weather prediction, coupled with Tahoe convenient location, and the steadily growing number of vacation rentals are promising factors that this will be a great season here in Lake Tahoe.

CF

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