The vacation rental industry is on the rise, thanks to new rules and policies designed to curb rampant abuse of car rentals.
The car rental industry spent about $1 billion in the first half of 2017, up about 20% from the same period last year, according to the National Association of Realtors.
The increase is attributed to the implementation of new policies aimed at curbing abuse of rental cars.
The changes were approved by the Federal Trade Commission in December.
The new rules require rental companies to provide a credit history that can be used by consumers to determine if a rental car is in fact occupied.
Realtor Brian Schofield says that has given the industry more leverage to get rental cars out of the hands of abusive tenants.
But that leverage has also put pressure on car rental companies, as they have to compete against other companies that offer similar services and have fewer rules.
The National Association has partnered with a company called CARNET, which offers financial advice to people in the car rental business.
The group says it’s been a boon to the industry.
The association says it has helped about 1,000 people with rental car problems, including some who were evicted from their homes.
The company’s CEO, Bob Eickmeyer, says it provides an easy-to-use tool that helps people get the right rental car for the job they need.
“We see that as an important part of our business model,” he says.
“It’s not just for those who need the rental car to make their home more comfortable.
We’re seeing it for people who need a rental vehicle to travel or get somewhere and we want to help them do that as well.”
The car industry’s biggest problem, though, has to do with its business model.
RealtyTrac, a rental company that has partnered for years with the NAR, has struggled to compete with other companies.
While the NARS is still the leader in car rental abuse, it’s not alone.
Other companies have jumped on the bandwagon, like CarMax and Carrefour, which offer similar car rentals, or even rental cars that have been used by people who have been convicted of crimes, such as domestic abuse victims.
Carrefours CEO and co-founder David Hough says the company wants to make sure its customers can get the car they need at the best price possible.
“It’s an important challenge for us to try to keep the cost down and make sure that people can get a rental at a reasonable rate,” he tells Business Insider.
“The biggest challenge is to maintain customer trust.”
It’s a challenge that could affect the industry as a whole.
While car rental chains like CARNET are growing, the number of rental car companies continues to decline.
In a recent report, the NARR says there are fewer than 4,000 car rental operators in the U.S., down from more than 10,000 in 2012.
Car rental companies are also looking to other businesses to fill the gap, like mobile car service companies.
A recent report from Nomura Research found that by 2021, there will be only about 6,500 car rental services in the United States.
This is largely because car rental providers are looking for new businesses to take on.
Car rentals have also seen an explosion in popularity over the past several years.
In 2017, there were about 1.3 million car rentals in the country, up from about 2 million in 2015, according the Narrar.
The NAR estimates there will eventually be 2.7 million car rental firms in the world by 2021.