Owning property is one of the best investments anyone can make. However, many people own only their house and do not maximize its value. Some families own a secondary property that they leave empty most of the year when they could be hosting guests for short-term vacation rentals.
Using these tips, you can begin offering short-term vacation rentals and increase your income.
Choose Your Preferred Platform
Most people who offer a short-term rental use either VRBO or Airbnb, but there are other platforms available. If you search the Internet, you will find articles advising you to list on multiple platforms, but you run into a range of issues when doing so.
First, you must be certain to blackout dates on one platform the moment they are taken up on another. This can be mind-numbing, especially when you likely have a full-time job and do not have time to drop everything and adjust one platform when the other is rented.
Moreover, guests will be charged different fees on different platforms, which could lead to negative reviews that note you are “double-dipping”. Finally, you may end up double-booked, not realize it, and you will have two angry groups of guests on the property when you don’t have a satisfactory resolution ready for them because you are not a hotel with hundreds of rooms to choose from.
Prepare Your Property
Once you’ve decided where to list your property, make sure it is ready to receive guests. Equip your home with all the necessities guests will need such as kitchen equipment, sheets, towels and a hair dryer. If you are near a beach, you may want to include chairs and beach toys to enhance their stay. Remove any valuables or keepsakes from your property to avoid damage. Check your property for and complete any needed maintenance before your first visitors. Remember that safety is also your responsibility when renting your property, so check for any hazards that could cause injuries, and be sure to provide a fire extinguisher and emergency information. If a renter is hurt on your property, you could be liable for their injuries if you were found negligent.
Take Quality Photographs
You must take photographs of the entire property as if you were listing the home or property for sale. If you do not feel you can take the best pictures, hire a photographer or reach out to a real estate agent you know who can help.
Each picture should give the guest an idea of how large each room is, where the amenities are, and these pictures should feature furnishings that will be present. Do not be tempted to stage the pictures and take away many of those furnishings. You want guests to be entranced by these images while also showing them exactly what they get, including the exteriors.
Offer Lots of Information on the Listing
When writing up the listing, do not feel the need to write a narrative. You want to give potential guests actionable information about the property, bathrooms, bedrooms, extra rooms, amenities, furnishings, and offerings. If you deliver breakfast, have a hot tub, offer a heated pool, or whatever it may be, you must place those items in a list that is easy to skim.
Once you have made clear all the items you offer, talk about the attractions in the area. This is a place where you can make personal recommendations, explain how transportation to those locations works, and even place flyers for local attractions in the unit.
Be Clear About Fees and Rules
At the bottom of every listing, you should type in bold, often capitalized letters the rules and fees associated with the rental. If you are not upfront with your guests, they will either cancel when they get to the booking window, or they will be extremely upset once they check out.
Communicate With Your Guests
Finally, you should communicate with your guests as much as humanly possible. They need to know that they can reach you at any time, and you should be prepared to leave the ringer on during their stay.
No, you are not watching your guests during their vacation, but you are present (just as a hotel’s staff would be) so that they can get help if needed.
List Your Short-Term Vacation Rental Today
Make sure to research a variety of platforms such as VRBO and AirBnB when listing your property for a short-term vacation rental, take great pictures, be clear about the rules, and you can collect quite a bit of passive income throughout the year.
