Pinellas County tourism enjoyed a record-breaking year in 2022, contributing over $10 billion to the local economy. So, if you own a second home in Largo, Florida, and you're not using it for short-term rentals, you're missing out.
The Largo area holds many attractions for tourists, including the Florida Botanical Gardens, family-friendly activities, an excellent food scene, and proximity to gorgeous beaches.
Listing your home for rent means you get to benefit from the ongoing demand for accommodation in this lovely city. Keep reading to discover the basics of how to list your home for rent.
Know the Regulations Surrounding Rentals
The City of Largo has a welcoming attitude toward tourists and encourages short-term rentals in the city. As such, there isn't a lot of red tape involved if you want to make your home a vacation rental.
When your rent out your house, you must comply with Section 15.18 of Largo's Comprehensive Development Code. These regulations primarily revolve around guest safety.
One provision of the code is the designation of a responsible party for your short-term rental. This person must be available 24/7 and able to resolve any guest concerns within two hours of their query.
If you don't live in Largo, it's best to hire a short-term rental property management team to assist you with this responsibility.
Take Care of the Paperwork
In Florida, you need a license if you rent out your property more than three times in a calendar year for less than 30 days at a time.
Additionally, a standard homeowners insurance policy only covers owner-occupied homes. You must take out a short-term rental insurance policy to cover any damages caused by short-term tenants.
Set Up Your Rental Rates
Most vacation properties offer different rates based on supply and demand. In Florida, the peak season runs from November to April, while June, July, and August are slightly slower months.
Rental rates are always at their highest during the end-of-year holiday season.
It's best to research what other property owners are charging for short-term rentals in your area to come up with an attractive price. A property management firm can assist you with this task.
List Your Home
Once you've fulfilled your regulatory obligations, done the math, and prepared your home to receive its first vacationers, you need to get the word out to interested parties.
Listing your home on a reputable rental listing platform is one of the best ways to reach a large audience when marketing your home. To do this, you'll need to arrange the following:
- Professional photographs of your property
- A catchy title to attract tourists
- An appealing property description highlighting its attributes
- A price per night or week
Once you've set up your listing, you can sit back and wait for the bookings to flow in, or you can actively market your short-term rental using social media platforms or other types of online advertising.
Get Help Listing Your Home for Rent
Listing your home for rent is an excellent way to earn extra income and also contribute to tourism in Pinellas County. It also involves a lot of administration, commitment, and time, which can become stressful for some people.
If you want to get involved in this lucrative undertaking but aren't sure where to start, get in touch for assistance with all your short-term rental management needs in the Largo, Florida area.