Vacation Home Rentals: Tips For Homeowners Who Want To Make Some Extra Income
Vacation homes are often considered a luxury for the very wealthy, but the truth is the sharing economy has seen a recent boom, and these days, more people are turning their properties into vacation rentals for other people to enjoy. Whether it’s an existing home or a property you want to invest in, you can make quite a bit of extra income throughout the entire year by renting out a getaway for other families to use. The key is to start with a solid plan and to understand what renters are looking for.
Location is, of course, one of the most important factors in a vacation home, and it can make or break your ability to find renters on a regular basis. Fortunately, there are hundreds of spots all around the country to choose from, meaning you can keep it close to your year-round home for maintenance purposes or set up in your personal favorite getaway spot so you can use it yourself. Whichever way you choose to go, keep in mind that you’ll need to begin with a smart budget and a plan for how to attract guests. Here are a few tips on how to get started.
Create a getaway that’s close to everything
The closer you are to popular venues and attractions in Orange County, the more interest you’ll get from tourists. For instance, Huntington Beach is perfect for tourists looking to enjoy the sun and sand, fish, and even watch whales. For avid golfers, a stay in Dana Point will put them near several highly rated golf courses, while a home in Anaheim will put vacationing families close to Disneyworld.
Keep it clean
Much like a hotel, a vacation home needs to remain clean and uncluttered for your guests, and it should be given a thorough cleaning between renters. You can hire a maid service for the job; just make sure you know which services they cover. Or you can hire professionals, such as a property management company, to come in and take care of the home so you don’t have to worry about keeping it in shape. This will not only give you peace of mind, but it will also help to give a great first impression to your renters, and will ensure that you get a positive review when they rate your rental online or to their friends and family.
Evergreen Cleaning Company knows what it takes to make sure cleanliness is never an issue for your vacation rental! Being a former Airbnb Super Host, we can guarantee our services will ensure your guests enjoy a wonderful stay!
Budget for changes
It’s not always easy to figure out a budget for a vacation rental, but if you want to make changes to the home--whether it’s to make small updates to a few features or make big upgrades — it’s crucial to know what to expect cost-wise and how to plan for it all. In some cases, changes may be needed in order to attract renters to the area. Take a look at your local competition to find out which features you should consider including in your rental home and how much they’ll cost.
Depersonalize
Some vacation homeowners rent out space to others but use it themselves for up to two weeks out of the year, which doesn’t affect their taxes. If you want to do the same, keep in mind that you’ll need to depersonalize the home a bit for the renters. It can be jarring to stay in a stranger’s home when there are family photos hanging on the walls and personal decor in each room. Try to keep the spaces neutral and free of clutter; this is the best way to ensure repeat customers.
A vacation home rental can be a great way to make extra income, diversify your investments, and meet new, like-minded people, but it can also be a lot of work to maintain. Make sure you’re comfortable with all aspects of the project before you jump in, and make a plan that will carry you through without any issues.
