Today’s market shows that really no matter where you live, you are likely to have renters interested in your property. People are utilizing sites like VRBO and Airbnb in record numbers, but there are plenty of things to consider before putting your space up for rent this season.
Know the rules.
First and foremost, it’s important to make sure that renting your home falls within the specific guidelines and regulations in your state and county. These rules vary greatly depending on what part of the country you are in, so you’ll need to make sure you are following protocol.
Clear your schedule.
Preparing your home for rental can be time-consuming to start, but once you get in the swing of things, it shouldn’t involve too much time and energy on your end. Some of the basic tasks you will need to consider are advertising, responding to inquiries, handling taxes, managing maintenance, and hiring service people (e.g. housekeepers and handymen).
Market your home.
Getting renters to want to stay in your home shouldn’t be difficult, so long as you know what people are looking for. When searching for a vacation property, most people consider its proximity to popular attractions, accessibility and size, available dates, and cost. Be sure to check the going rates for other rentals in your area, and focus on advertising your space’s closeness to must-do activities, fine dining, and kid-friendly spots.
Make it stand out.
Your home will likely be up against hundreds of other rentals, so you’ll want to make sure to emphasize special deals and amenities. If you have things like a pool, an HD television, a large movie collection, or beach equipment in the shed, you will want to highlight it so you let potential renters know that your space is one of the best!
Protect yourself.
Anytime you open your home to strangers you, are leaving your personal property and belongings in the hands of others, and, accidents do happen. If you plan on renting your space for an extended period of time, it’s a good idea to consider taking anything valuable with you or placing it in storage. It might seem like a pain to have to remove these things, but it’s worth the hassle to prevent damage or added expenses later.
