Vacation should be a time to relax and kick your feet up, but what if we told you that you could profit from it?
The US gets over 79.6 million visitors every year, meaning there are tons of people looking for a homely place to stay. If you have an empty home when vacation season rolls around, you might be able to generate some extra income while you're away.
Are you interested in turning your home into a vacation rental property? Read on to learn how to rent out your house.
Understand the Regulations
Rental properties are businesses under US law. Before you start booking guests, check your local regulations. Some states and HOAs have loose laws around vacation rentals, while others forbid it completely.
To avoid violating any rules, find out first if you can turn your home into a vacation rental. You may need to apply for a license to ensure all your future transactions are legal.
Prepare Your Home for Vacation Rental
Before you list your home as a vacation rental, ensure everything is in top condition. No one wants to stay in a house with faulty hardware or cleanliness issues. Conduct regular maintenance to spot problems that need fixing.
Move personal belongings into a private closet or an outdoor shed.
Seeing your family portrait can make guests feel as if they are intruding. Instead, use professional photos and decorations to highlight features of your home. It also helps to set rental policies in place to avoid problems.
List Your Home
From registration to photoshoots, you can put up your home on listing websites. Use professional photos and write well-written descriptions to attract guests. Take advantage of the website's features to increase traffic to your listing.
It would help if you screened potential guests. Screening allows you to learn more about occupants and avoid confrontation with problem guests.
Work With Professionals
Hire a professional housekeeper to care for your home when guests leave. Ask them to follow a cleaning checklist to ensure the space is clean and organized.
For equipment breakdowns, you must have someone on speed dial. Create a list of maintenance and repair services you or your housekeeper can contact.
Build your marketing assets after inspecting, fixing, cleaning, and decorating. Ask a professional photographer to take photos of your vacation home. Good-quality pictures can drive more bookings to your vacation rental.
Hire a Rental Manager
Rental property management can be difficult if you aren't in the area. This is where a property manager comes in. They determine rates, handle guest relations, and market vacancies for your vacation home.
For instance, do you want to buy a rental with a friend to use as a vacation property? They can give you advice on where you can find a good one. A property manager can guide you through the business application process to ensure you have all bases covered.
How to Rent Out Your House
Although it generates income, listing your home as a vacation rental is complex. For a smooth operation and vacation, ask for help from professionals.
PMI Clearwater provides short-term property management services. We can help you rent out your house to the right client. Contact PMI Clearwater here.