The Tribune

BY NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE vacation home rental market in the Bahamas can be tapped for further growth, according to a local businesswoman who described it as a “lucrative opportunity” and urged the formation of an association to ensure proper rental standards and repeat business.

Angela Cleare, founder of ABC Tours and Consulting Company, told the 2nd Annual Eleuthera Business Outlook yesterday that Eleuthera and Abaco were the top destinations in the Bahamas for vacation rentals. Mrs Cleare said that she had attracted European, US and Canadian visitors to her vacation home rental business via the popular US VRBO.com site, with rates peaking at $1,700 a week during the Christmas period.

“You can make big money by renting your property,” she said. “It has exceeded my expectations. It is a very lucrative opportunity for people who have the right property and are committed to it. We need to have an association. If we could get everyone doing a good job in an association with people who inspect the properties and ensure that they are all up to a standard you could create additional businesses for other persons.

“What I’m doing now is two island vacations. I’m asking people if they would agree to go to another island for their second visit. For those who have said yes, I have two persons in Eleuthera, one in Inagua and another in Abaco. We need to get them to come back again and see what the Bahamas is all about,” said Mrs Cleare.

Mrs Cleare noted that in 2014, Abaco had 91,784 stopover visitors but only 29,242 stayed in a hotel. Eleuthera, she said, had 35,450 stopover visitors in 2013 but only 15,000 stayed in a hotel. She further noted that the Bahamas has 1,425 listings on VRBO.com (or vacation rental by owner).

“Ordinary citizens can make an attractive income by just renting their place,” she added. “It helps to sustain the local economy as well. There is big money in it. It’s a business that offers flexibility and freedom but there has to be standards.”

Mrs Cleare admitted that the business was not for everyone.

“You have to have small business skills. You have to have the right location and neighbourhood. The main reason people come to the Bahamas is for sun and sea. If they can’t get to the beach in 10 minutes forget it. Your home has to have all the modern amenities but still offer that quaintness visitors are looking for.”