By Erin Reynolds
If you’re planning to move, but have no desire to sell your home, you can turn it into an income-producing property. But, there are a few steps you should take before listing your house as a nightly retreat. Keep reading for a few quick tips that will help you attract the most attention.
Evaluate your property
Not every home makes a great vacation rental. Before you make the decision to move forward with yours, first evaluate it to decide if it works or not. Ideally, you’ll be in an easy-to-reach location. If you’re in the mountains, for example, paved roads are essential. Near the beach? If you’re within walking distance, you might be more marketable. You also need to determine if your homeowner association (if applicable) allows for short-term rentals.
Make it stand out
Once you have decided that you are ready to rent your property, your next step is to clean it from top to bottom and ensure that you have professional photos and an accurate listing. Photos By A.G. can help you showcase your most captivating features both indoors and out. On your listing, make sure to note special features, such as a hot tub or a fully stocked kitchen.
Use a professional rental management company
Running a vacation rental is a full-time job. It’s almost always best to start by using a professional vacation rental management agency. Your property management firm should offer around-the-clock local support and keep your rental calendar up-to-date. Further, they should maintain responsibility for cleanings between each rental and scheduling any maintenance necessary. Your vacation management firm can also help you determine the right type of pricing. This is especially important if you plan to use adjustable pricing, which the Million Acres blog explains might be confusing but can keep your rental full.
Provide guests with what they want
Depending on where you are, your guests will want different things. Are you marketing your home as an intimate retreat? A king or queen bed in the master is ideal for couples. For family vacations, make sure you have twins or bunk beds available. Many visitors will also appreciate a hot tub, kitchen stocked with cookware, plates, and silverware, access to Netflix or other video service, and keyless entry.
Showcase local attractions
People go on vacations to see the sites. Make sure that your home helps your renters do just that. Have plenty of brochures and flyers, coupons, and maps available to give visitors a few ideas of things to do beyond the beach.
Upgrades and extras
If you’re aiming for a luxury feel, everything from your faucets and fixtures to the bedding should be high quality. Additional touches, such as a single-serve, cold brew, or iced coffee maker, will make your guests feel more at home. You can also create packages that cater to certain types of travelers. Wine, chocolate-covered strawberries, and roses for anniversaries or a small cake and balloons for other special occasions.
There are many ways to monetize your home, and turning it into a vacation rental is one of the most lucrative. But, if you’ve never acted as a landlord or property manager before, make sure to partner with an experienced service that can help you get the most out of your home for the least amount of work on your part. You also want to spend some time making sure that your home is staged and showcased just right so that your renters know exactly what they’re getting.