New VRBO 5% Transference fee to HOST of Monthly (midterm) vaction rentals
I have to rent a minimum of 30 days/nights and because of that I am not legally classifed as a "short-term" rental, which is legally classified within the Hotel Industry category and has different state laws and sales taxes compared to the Midterm, which falls into the "Long Term" rental category, which in my state means the stay has to either exceed 29 nights or be 30 nights or more (this law can be different based on the state the property is in).
After this intro to provide some background, I want to express my dismay with how this is affecting vacation rentals like mine where people need a temporary home for an extended period as in traveling for work, transitioning, winter retreats, etc. My property is ideally situated for this type of demand. I therefore bring in more rental revenue per booking than a short-term rental does, but the new fee structure is going to add an exponential cost to rent my property that can run from 500.00-1000.00 for a 1- 2-month booking, where my rate was competitive before the new rate, to cover what was previously the booking fee paid directly to VRBO by travelers, added to my rental rate pushes me out of the competition and is simply outrageous. Midterm vacation rentals that bring more revenue to VRBO per booking should receive an adjusted or sliding-scale fee based on revenue or the total days booked or a reasonable flat fee. There's a lot of business out there for midterm rentals, and VRBO is not going to tap into that market if they price us out of the competition. Next, they lose our business too.