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The website soon became popular with homeowners that wanted to list their properties for short term rental. [ 2 ] [ 3 ] By 2006, VRBO had over 65,000 rental listings [ 4 ] and was adding 100 new listings per day.
Consumers unfamiliar with the concept of a vacation rental property may confuse it with a timeshare property. Many timeshare resorts offer quarter ownership, which provides 13 weeks of use or rental. A timeshare can still be made available as a vacation rental should an owner decide to put his owned week(s) on a vacation rental program.
A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [1] As a minimum, the agreement identifies the parties, the property, the term of the rental, and the ...
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HomeAway announced in November 2006 its $160 million in financing to fund global expansion initiatives, including the acquisition of Vrbo.com (Vacation Rentals by Owner). [11] On November 11, 2008, HomeAway announced it had completed an additional $250 million equity capital raise. [ 48 ]
The term "timeshare" was coined in the United Kingdom in the early 1960s, expanding on a vacation system that became popular after World War II. [1] Vacation home sharing, also known as holiday home sharing, involved four European families that would purchase a vacation cottage jointly, each having exclusive use of the property for one of the four seasons.