http://www.thelagoodtimes.com/state-flag/

Real-Estate : Holiday Rentals Becoming Hot Business
Danni Stor calls herself a travel addict.
She has camped in the Kalahari Desert, worked on an archeological dig in Croatia where anyone can have Croatia real estate, and sailed throughout the Caribbean. And when she travels, Stor avoids hostels, staying with locals to get a legitimate experience. But Stor, a Toronto art director and designer, has not managed to travel much lately, so she’s done the second best thing.
She has leased out on occasion a room in her two-bedroom studio to visitors as a technique to live vicariously as well as pay the bills. The weak world economy has helped push the vacation rental market where travellers hire a room, studio or house rather than staying in a hotel into a flourishing enterprise. Texas-based HomeAway Inc, which runs 31 rental web sites including homeaway.com and vrbo.com, raised $216 million ( U.S. ) with its primary public offering of 8,000,000 shares priced at $27 each.
The company’s stock closed at $40.21 on Wed., the 1st day of trading on the NDX Market, after flirting as high as $42.30. That means the company is now worth about $3.2 bn.. According to its SEC filings, HomeAway generated $167.9 million in cash in 2010 with a net income of $16.9 million, up from 7.6 million in 2009, though like many Internet-based corporations, its long-term future is unknown.
Stor has posted her room listing, at $60 ( Canadian ) a night, on iStopOver.com, a Toronto-based start-up. Most rooms hire from $75 to $100 a night, although costs are higher in cities such as London and New York. Unlike other websites, where homeowners pay a yearly listing charge of about $300, hosts lists free on iStopOver. But guests are charged a fifteen % premium on top of their bookings, and hosts are charged a three % processing charge for each confirmed rental.
The Toronto firm recounted this week that it has bought competitor Vacapedia, a California company, which boosts iStopOver’s lists to more 84,000 in 93 states. No money details are being released though it was a cash and stock deal. Anthony Lipschitz, iStopOver’s CEO who worked at Brightspark Ventures, a Toronto venture capital firm, believes this type of holiday accommodation is the future.
“When you check into a Sheraton in Shanghai or in Toronto, it’s just about the same experience,” he claimed. “We’re all about providing that ‘live like a local’ experience, the chance to connect with others and get the inside track.” That will mean everything from where’s the best spot to get coffee to which museum has the must see exhibition this summer, he announced.
The Firm has received funding from Brightspark as well as others including the Ontario Developing Technologies Fund. Lipschitz claimed the company is still trying to find funding and it has no instant plans to go public.
IStopOver, which competes with Airb2b and Wimdu, does not pay hosts till the guests have arrived and given the accommodations the once-over. If it’s satisfactory, then the guest gives the host a security code, and then funds are released in 24 hours. If there’s a problem, the site then will find alternate arrangements, though Lipschitz says it occurs occasionally. Because both parties can e-mail and call ahead, frequently folks have a good sense of expectancies, he revealed.
When Sameer Parpia, a Toronto statistician was travelling to S. A. for soccer’s World Cup in 2010 with three chums, he sought out hostels initially. “Hotels were sold out, and those that had rooms were over $300 Canadian a night,” claimed Parpia, who had planned a 10-day stay in Johannesburg. They ended up booking through iStopOver, and found a two-bedroom place for about $130 a night.
“The woman who rented to us lived next door. She gave up tips on transport, restaurants and she even had a tiny pool next door that we used,” Parpia recounted. “We had a feeling like we were boarding with relatives.”
Lipschitz, who has run other tech companies, started iStopOver in 2009 just before the Vancouver Olympic Games. The site has recently gathered more listings in Ontario’s cottage country and Quebec’s Eastern Townships, and intends to do nicely in the winter with more listings in Florida thanks to the Vacapedia purchase. Stor announces she just likes meeting interesting people and feels safer using the website than posting on Craigslist. “They’ve signed in. They have registered. There’s an account,” she revealed.
She has had visitors from as far distant as Russia and she is stayed in contact with a woman from Nova Scotia. One visitor was a skill professor from the U. S. , and she ended up going around town with him and another chum, dropping in at Afrofest and pedestrian Sundays in Kensington Market.
“It’s fun showing folks around your town,” Stor declared. “It’s a great way of being part of the travellers’ community. Who knows? When i’m travelling and I end up in that part of the planet, I will call them up”, as reported tagza.com.
Flying High! – The State Flag Flypast (NDP 11 Feature Part 3)
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