US vacation rentals are expected to generate nearly $20 billion in revenue yearly.
If you're a homeowner, this number should pique your interest. To rent out your house as a vacation home is to earn a significant amount of extra income that can change your life. That being said, there's a lot you need to know before you list your home for the first time.
In today's post, we'll give you a short guide for renting out your home as a vacation rental. It's not as easy as listing your home and waiting for bookings to roll in. Keep reading and we'll make sure that your home can become the lucrative vacation rental you want it to be.
Perform a Pre-Rental Inspection
Inspect your home before you list it on vacation rental websites. It's important that you know which areas of your home have wear and tear so that you know when the home has been damaged by a guest. The more thorough you are with your inspection, the more prepared you'll be when guests arrive.
De-Personalize the Home
If you're going to attract renters to your vacation rental listing, the first thing you need to do is de-personalize your home. When you live in the home most of the time, this is difficult to do, but renters won't want to stay in a place that feels like someone else's home.
Do your best to put away personal items, like photographs and clothing, in a locked storage area. You can think of this as a sort of home staging tactic, but it's also going to protect you from having your property damaged or stolen.
Make a Great Listing
Your listing is what will help you rent out your unit. Make sure to take lots of professional photographs of the areas that guests will be using. Take the time to write up a descriptive listing that outlines all of the home's amenities, as well as the benefits of vacationing in your city.
There are a few big vacation rental websites that you should put your listing on. Sites like VRBO and Airbnb pre-screen renters and allow hosts to rate them after their stays. This gives you the best chance of getting high-quality renters in your home.
Hire a Property Manager
Whether you're renting out your primary residence, a unit on your property, or your own vacation home, it can be beneficial to hire property management services to help.
They'll take care of everything from property maintenance to managing guests. In the end, you'll get to enjoy all of the perks of running a vacation rental property without any of the burden.
Rent Out Your House ASAP
Over the past few years, revenge travel has flooded the vacation rental industry. Take advantage of this trend and rent out your house to those flocking to the Washington, DC area.
PMI Annapolis specializes in managing vacation properties in and around Annapolis. Contact us today to learn more about our services and how we can help you maximize your vacation rental.