Vacation rental properties are gradually replacing the need for hotels among vacationers, because of the unique benefits they offer. Besides providing guests with the creature comforts of a home, most vacation properties also offer a variety of amenities to choose from, as well as extra privacy and comfort over a hotel experience. The trend is increasing with more vacationers opting for short-term vacation rentals over the traditional hotel or resort experiences. This is a great opportunity for absentee homeowners to generate extra income by turning their second properties into vacation rentals.
Although there’s a high demand for vacation rentals, a lot of homeowners question renting their homes for short stays because they are not sure what is required in the process, whether it is legal in their city and whether they can handle the maintenance and upkeep required to quickly turn a property for the next rental. If you are a homeowner considering short-term vacation rental, these tips can help you plan for renting your home successfully without increasing your workload.
1. Setting House Rules
When you list your property on Airbnb, VRBO or any of the vacation rental aggregators, part of the service you are getting is the vetting of your potential guests. This vetting is important and brings a lot of peace of mind for you the homeowner but there is more you can do to maximize the success of your vacation rental. While the booking site takes care of the surface vetting, you should also have your house rules and property tips established and clearly communicated for your guests.
Your house rules and property tips should communicate things like:
It is helpful for guests to have an outline of your house rules that covers the applicable items above as well as items very specific to your property, like how to use certain appliances that may need a little explanation. Consider this your tips for the optimal stay at your property. Clearly providing the house rules and property tips is an easy way to upgrade your guest experience and positively impact their stay experience. It is also helpful in streamlining your turnover process and readying the property for your next guest. Afterall, if the goal is to generate more income then streamlining the process, getting great reviews from guests and minimizing mishaps on your property will significantly boost your number of rentals.
2. Invest in Professional Photography
A picture is worth 1,000 words, or so the old adage goes. When travelers are searching for a place to stay, typically they’re doing it from someplace far away and they cannot preview the property in person before booking. Your photos give your potential customers the sense of where they could be staying and make a very compelling case one way or another. Professional photography captures the best of your vacation rental property and highlights the charm and experience it offers to a guest.
3. Hire a Property Manager that specializes in Vacation Rentals
All of these can significantly increase the workload you already have on your hands. However, when you hire a rental manager, all of these duties can be handled for you. Thus, you will be absolutely free of any of the stress involved in the management of your property. Also, if you decide to hire a rental manager, you should ensure that you hire a professional company like Venture Yours, which can handle everything seamlessly.
When it comes to putting your vacation home up for rent, there is a laundry list of items you’ll want to set up and manage on a regular basis. These items, Operations and photography as we discussed above, as well as things like advertising, maintenance, pricing, booking, city regulations, invoicing and many more will be on your regular list of to-do’s. If it sounds like a lot of work that is because it can be. If you want to have a successful “business” by renting out your second home but do not want to take on the management of that property then a property manager that specializes in vacation rentals is a good option.
You can contact Venture Yours to be your rental manager. We can handle all the logistics of renting your vacation home, and all you have to do is sit back and collect the extra income. Contact us or call us on (562) 702-0144 today!.