A California getaway spot for Hollywood stars, Laguna Beach is located on the southern coast of Orange County and has been known as an artist’s colony for approximately 100 years.  Laguna is a perfect place to relax on the beach, spend some money at the local boutiques and art galleries, and catch a peek of Jennifer Aniston or other stars living the same experience in Laguna Beach.

Instead of staying in a crowded hotel, live like your famous for a week and check out Cress Point — a quaint yet luxurious beach cottage residing ocean-front.  Wake up to a view of the Pacific Ocean and begin your day lounging on the modern furniture while sipping on your espresso.  This cottage accommodates up to six people.

Many famous houses in Florida boast of their provenance or their heritage. We guarantee The Sandhurst Estate, a private compound on almost two acres has a unique provenance one does not encounter often. The compound was featured as 2004 MTV’s Summer Beach House with Usher, as the Ultimate Dream Vacation Home on HGTV’s Vacation Living Show and in Martha Stewart’s Living Magazine. Sandhurst Estate is the perfect option for a relaxing vacation home, family reunion, corporate (discreet) retreat, special event or destination wedding.

The waterfront estate captures the architecture of Florida and the Caribbean in its Colonial West Indies style with 8 bedrooms, 7.5 bathrooms accommodating 20 guests in opulent yet laid-back comfort and style. On the estate grounds, guests enjoy the oversized heated pool with poolside bar and keg cooer, a tennis court, and boat dock (kayaks included). Of course, for the beach experience, just use the private access to one of the finest beaches on the Gulf of Mexico.  Additional island pastimes include golf, boating, kayaking, snorkeling, nature walks, shelling, biking, parasailing and fishing.

While we may suggest employing the services of the private chef, you are just a short distance from the village of Captiva. This secluded unspoiled tropical village offers guests gourmet restaurants, outdoor cafes, boutiques and art galleries (the late artist Robert Rauschenberg kept a home and studio on the island).

Leave the madras and Lilly Pulitzer attire in Palm Beach, when visiting Captiva Island its all about relaxation, rejuvenation and restoration, all within luxury surroundings found few places on this earth.

While there has never been an exact science of formula concerning pricing a vacation home rental, present economic conditions, limited demand, increased supply and the multitude of options concerning exposure makes the pricing proposition a quandary many face.

In addition, it is now most important to quantify asking prices due to the issues we all face above. The discounting approach, which may or may not be successful, is more appropriate for hotel inventory versus the unique opportunities and constraints concerning vacation home rentals. Now, factor in that each night of vacancy is truly a perishable commodity, what is one to do? We hope the following provides insights and guidance and please note, the staff of TheSociety.com is available to assist on multiple levels from pricing to exposure to target market analysis and so forth.

Please note, “How to Price Your Vacation Home Rental” will be an on-going series:

Installment I: The Honest Assessment AKA “The Appraisal”
-Section I: Location

Whether you are an owner of a vacation home or a property manager, when considering the vacation rental potential of a property, the initial job is to assess the true value of the home or what we call “The Appraisal”.

Unlike the physical plant of a hotel i.e. 1-5 room categories, a strategic location, branding, a vacation residence is by design, a unique entity. No two vacation rental residences are alike (yes, even duplexes i.e. shared common wall will have unique differences. Thus one must look at the property with the skill set of an appraiser and the point-of-view (POV) of a potential renter.

As in any real estate, the ultimate value proposition is the LOCATION!

Location will dictate demand. For example, the 10 bedroom home in Marshalltown, Iowa is probably not as in-demand as the 3-bedroom oceanfront cottage in East Hampton, New York.  Even on a local level, in our (TheSociety.com) own backyard, the 2 bedroom flat in the heart of Vail Village, walking distance to the slopes will generate higher demand and revenue versus a 4 bedroom home in neighboring West Vail, just minutes away by free shuttle.

Location is a unique variable.

Consider the following (and of course there will always be variations to the information below):

Beach/Water Oriented Community (scale most to least in-demand)

• Waterfront
• Close to waterfront
• Walking distance to waterfront