With the abundance of lodging choices, it's easy to get overwhelmed.  Renting an individual's private residence can offer a great stay at an affordable rate.  Often owners use these properties as 'second homes'.  They then rent out unused dates to offset their mortgage, HOA fees, etc. These properties are located in almost any town across the globe - if it's a travel destination, it's likely to have homes available to rent by owner!

Renting a home from a private owner has many advantages.  First is your variety in choosing the type of lodging right for you.  The most common choices are single family homes or condos.  Townhomes are also becoming increasingly popular.

Single family homes are often large enough to accomodate a large group or family.  These typically have many rooms and private adjoining property and may even include amenities such as private pools, activity rooms with pool tables, private decks and more.  However, they often do not include access to other amenities typically found in 'resorts'.  They also tend to be more expensive and located further from the 'main attractions'.

Condos, likely the most popular option, range from efficiency units to several bedrooms.  Many also offer additional sleeping accomodations in the form of a pull-out couch (sleeper sofa). These units typically offer access to shared community amenities, similiar to resorts.  These might include indoor pools, outdoor pools, hot tubs, golf, tennis, waterway access or more.  These are typically lower in price and located close to popular attractions.

One of the biggest advantages to renting an entire home (condo, house or other) is the availabilty of a fully equipped kitchen.  This can help keep your vacation expenses low as you are able to cook as many meals as you wish at "home".  In addition, many of these rentals offer other low budget entertainment such as movies, games, onsite amenities, and even gaming systems (like Sony Playstation 2).  Lastly, it is often more economical and convenient for say two couples to rent a 2 bedroom condo and split the costs than to rent two seperate hotel rooms.

In either case, it is important to consider the source of the rental.  Renting a privately owned and operated unit can have many advantages.  For example, private owners often use their property as a second home and thus have a higher stake in its condition, amenities and upkeep.  In contrast, some properties are maintained by individuals or groups who have only an interest in the investment/profit potential.  While not all of these units are a poor choice, many do tend to be outdated or unkept.  Remember, if an owner never visits his or her property, they tend to have less regard to its condition.

Rentals by owner can be a great value.  Remember that these individuals must advertise their own property and book their own guests in order to offset their expenses.  As a result, they are more vested in filling open dates.  Another positive aspect is the fact that there are no commissions or other fees to be paid so often the rental rates are lower than comparable properties offered by resorts, timeshares, etc.  Lastly, private owners are more aware of local rates and price themselves accordingly in order to attract potential renters.

When choosing a lodging, there are always many factors to consider.  Choosing to rent a private home offered by the owner can be a great way to visit new places and obtain valueable information from an "inside source" (the owner).  Many owners find that they host the same guests year after year.  With a bit of research, you may find that these 'rentals by owner' offer you exactly what you are looking for without the 'corporate' side of hotels and the like.  Remember that you should feel free to ask as many questions as you need and the owner should be accomodating and understanding.  If you feel like you are being ignored or treated curtly, consider the implication of that on the actual rental.  There are also many good web sites that offer tips on things to consider when renting a private home. 

So whether you find your dream rental on ebay or elsewhere on the web, enjoy your vacation!

PS- Visit Ebay's Travel Lodging Guide page, a good starting point to help you learn more about the types of lodging available on ebay and some tips on conducting a safe transaction.