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Save Hundreds of Dollars With a Summer Rental
May 23, 2006 — -- When planning your summer family vacation, keep in mind it may be cheaper and easier to rent a home than to book a hotel.
"Good Morning America" real estate contributor Barbara Corcoran explained how and where to find great rentals at affordable prices.
You can find her tips below.
Save 20 Percent to 50 Percent
Based on a one-week stay, you can save between 20 percent to 50 percent by renting a place rather than staying at a hotel. Renting also means more room, is kid- and pet-friendly, and usually has amenities like a kitchen, backyard or barbecue. You can fool yourself into thinking you're not a visitor, but a local who lives there.
Come and Go as You Please
Renting can be easier to schedule, as you don't have to worry about check-in and check-out times. Some hotels have very strict timing policies, but with rentals, you can avoid Saturday to Sunday restrictions.
It Pays to Wait
Not only is it not too late to get a great summer rental deal, it could pay to wait longer. You can save 10 percent or more by waiting to book your rental until two weeks before you get on the plane. Sometimes the discount is official and advertised, but always ask, "How inexpensively can we get a cottage for our family?" when negotiating. Even if you get a discount, always try twice. No one gives you the best discount the first time.
Midseason markdowns generally start after Aug. 15. Because many schools are starting earlier than ever, you can book these as early as the first two weeks in August.
Size Matters
Small groups between four people and six people are ideal for anyone who is leasing a home or cottage. The bigger the group, the less likely it is to get a last-minute deal. Big properties for 10 people to 15 people tend to fill up early, but small group rentals are available throughout the summer. The only exception is July 4 weekend.
Barbara's Top 3 Vacation Destinations
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