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This may seem like a small concern but it can lead to many problems if you are not prepared for it. They say never mix friends with business but you’ll probably find this very difficult once your friends realize you have a lovely vacation home available in an area perfect for that relaxing getaway. Have a plan in place with how you deal with this. First and foremost you have to explain to all of them that you are running a rental houses business, you need to make a profit, and they have to respect that. Even still, almost certainly, friends will look at your advertised rates and expect a discount. This is normal as we all expect preferential treatment from our friends. It is worth thinking about beforehand and, using careful calculations, work out what those rates will be and stick to them. Maybe put aside a few weeks a year where you figure on making slightly less than the advertised rates, but still be in profit. Better still, try and lead your friends to taking up the weeks when you have no occupancy, by perhaps making a deal with them that you will offer them a discounted rate if they are prepared to book last minute. If they do go for a booking, make sure provide the same service with the same attentiveness to their needs. Also make sure they have the same information about your rules and regulations and that they sign the same contract as your other guests (this may be slightly tricky as some friends might be offended and should be handled with care). Then you have to rely on the fact that they will respect your friendship and adhere to the same codes of conduct within your rental home. Agree beforehand, in a friendly discussion, what the penalty will be for breakages and any other eventuality, and also let them know what you are prepared to do for them as a host. Clarify all the points which need to be addressed. Most important of all is that you offer the same rates and treatment to all your friends, as different prices can cause bad feeling between friends, and you might find yourself falling out of favor with someone because, even though you gave them a discount, it was less of a discount than to another mutual friend. The rules of school playgrounds never cease to count. You could perhaps, if you so wish, work out a way to make their stay in your vacation home less of a burden on you since you are not charging them the full amount. For example, you could offer them the discount rates but inform them that they will not have a cleaning service for the week. Whatever you do, be prepared for it, have a plan in place, and make sure it’s the same with all your friends if you want to avoid bad feeling creeping in. Be careful, it’s a minefield. John Owens Is a writer for Vacations rental homes and holiday homes and rental condos rented directly from the owner of the vacation rental home.
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