2016 has been a fierce year for the vacation rental sharing market. From regulatory issues at Airbnb to HomeAway becoming a booking engine for professional properties, and even the launch of noise monitoring tech for hosts (bye bye wild parties), rental accommodations have stolen the travel spotlight.
The influence of the sharing economy has helped the Vacation Rental Industry build momentum, attracting new millennial travelers and property owners alike. And for traditional property managers, promoting a property has never been so easy, with sites like VRBO and Turnkey aggregating and marketing listings to the far reaches of the internet.
As the vacation rental industry evolves and grows globally, payments has been a key discussion point at every conference, news article and research study.
This dialogue, however, always seems to stop short when it comes to host payouts. As the last mile in the payments cycle, payouts include host and supplier payments, can range in transaction value, vary in frequency and carry huge cost implications to Vacation Rental Marketplaces (VRMs), rental management agencies, and property owners alike. Seems like a topic worth exploring, doesn’t it?
We thought so too. Transpay decided to examine how cross-border vacation rental payouts were being made to host and property owners in our whitepaper, From Traveler to Homeowner: Navigating Vacation Rental Payouts.
In the whitepaper we identified the top challenges being faced and provided recommendations for improving the payout experience – for sender and recipient. The paper breaks down the vacation rental payment ecosystem, addressing topics such as:
The Flow of Funds: Whether booking directly from a homeowner or through a third-party agency, how do host payouts reach their destination?
International Wire Transfers: Mapping the most widely used payout methods and uncovering the hidden fees.
Top Payment Challenges: From fees, to delivery speed and fraud, international payouts are riddled with challenges and inefficiences.
Host payouts can be the key differentiator in helping VRMs balance the needs of travelers, hosts and properties. We invite you to download the paper, give it a read and share some feedback!