Turning Your Home Into A Vacation Rental Property
Have you ever wondered how to start a vacation rental business for your second home but were unsure? Vacation rentals have become popular globally in recent years. Vacation rentals have grown to be a significantly lucrative industry over the last few years.
Many second homeowners are making enormous profits from short-term rentals. Some people draw on their property to offset expenses and give it a purpose when it isn't in use, while others seek to generate a significant secondary income source.
Shifting your second home into a vacation rental property requires a lot of work, no matter the reason. Below are seven tips to help create a welcoming, profitable vacation destination.
1. Remove Your Family Pictures
Removing family photos and other personal items before photographing your vacation rental and welcoming guests is essential. When guests enter an unfamiliar space, they yearn for a feeling of familiarity and comfort. Creating a blank slate allows any guest to see themselves having fun, leading to more bookings in the future.
2. Stock Up On The Essentials
Those just starting with a new property don't have the same advantage as those who have turned their homes into short-term rentals. Guests will require critical items to make their stays pleasant, and you may already have many crucial items. Nevertheless, you must check each room and make sure you have the proper inventory for every stay.
3. It Is Important To Keep A Locked Closet And Cabinet
Are you using your vacation home as an investment or a place to relax? Certain valuables will likely need to be stored on the property. You will also want to keep maintenance and cleaning materials out of sight to ensure a carefree vacation experience. You can store equipment, supplies, and personal items in a locked cupboard or cabinet that guests won't be able to access. It will provide vacationers with a five-star experience and additional peace of mind that all items you must leave behind are safe and secure.
4. Set Your House Rules
It's hard to determine how many rules are too many or how many are too few when establishing a vacation rental. How do you picture yourself as a guest? Consider what you want to inform them about your rental and the area. Here are some questions to ask:
Will you allow pets? If YES - what types of pet will you allow, and will you charge extra? If NO - will you charge a penalty for bringing a pet?
Are doors required to be locked or shut at all times?
Are the guests allowed to use the washing machine and dryer?
Is there a procedure for disposing trash, bedding, and dishes at checkout?
Is there a time when loud music and parties are not allowed?
It's a good idea to post house rules on the refrigerator or in a conspicuous location. Additionally, you can use a welcome book to communicate them to guests.
5. Create An Availability Calendar To Determine Availability For Time Slots Throughout The Year
You might wonder when you'll use your house if you rent it out. You may not want to come whenever you visit, so you may want to build up a calendar with too many days. You'll be able to put aside dates if you know you won't be there later. Guests may book if you open the calendar back up when you get closer to the date.
Set aside as much time as possible to block off your calendar if you want to make as much money as possible. It may be challenging to give up your beach condo for the Fourth of July or your ski-in/ski-out townhome for Christmas, but these significant events are when you can make the most of your money.
6. It's Worth Getting A Lockbox Or Keyless Entry For Check-Ins
The most significant issue when a visitor visits a rental property is having problems accessing it. A lockbox or keyless entry system may ensure visitors can enter the property efficiently. A lockbox stores the keys to a house, while a keyless entry allows the door to be opened using a simple code. Both a seamless check-in is an integral part of the guest experience. If the guests encounter issues or have trouble checking in, it will set a negative tone for the trip.
7. Schedule A Deep Clean Of Your Home
Before allowing visitors to come to your property, you must do a deep clean. A thorough cleaning requires more than just scrubbing the counters harder or washing the sheets on every bed. A comprehensive clean includes a thorough wash of your entire establishment. Use our free cleaning checklists to help you keep track of everything.
If you want a company to clean between visitors and perform a thorough initial clean, think about your choices. Working with a cleaning company is best when you begin a vacation rental business, as some homeowners clean their own houses. Doing so gives you an idea of what you should spend and time finding service providers you trust and can depend on.
Shifting a second home into a vacation rental is challenging, but it can be gratifying. Beyond turning your property from personal to professional, you must be organized and strategic to secure bookings, generate income, and outperform your competitors.
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