Renting out your vacation property can be lucrative, but it’s a market where there is significant competition. According to the National Association of Realtors, “30% of vacation property owners and 32% of investment property owners plan to rent their homes as short-term rentals in 2018.” And these numbers are rising rapidly; the 2018 figures are up more than 20% from previous year metrics. If you plan to rent out your vacation property, there are some simple but vital steps you can take to stand out from the crowd.
Be the Best Host: Make Your Rental Property Feel Like Home
You’ll be renting out your property to people on the road, away from the creature comforts of home. The best thing you can do is make them feel welcome and handle all of the details. A little pre-work goes a long way here.
Ensure the Space is Clean
Stocked your place with any necessities you’ve promised prior to your client’s arrival. There’s nothing worse than arriving to a rental property after a long day of travel, and finding a dirty bathroom with no toilet paper, or a kitchen full of dirty dishes. Don’t let a dirty space break your vacationers out of their blissful vacation immersion.
Create an Experience for your Clients as they Walk in the Door
Mount a framed letter near the entryway that gives them a feel for your space, and then share WiFi information, any necessary how-to’s for appliances, and make some local suggestions for easy dining and things they can do nearby - chances are they just got off the road or arrived from the airport from a day of travel, and such information will be more than welcomed.
Have A Small Welcome Basket
This can be great for the kitchen that includes a starter kit for coffee and tea and supplies for keeping the kitchen and dishes clean. If you know who the renters are ahead of time, leave them something that will enhance their desired experience - snacks and board games for families, or a bottle of wine for the couple vacationing alone.
Have Your Contact Information Available
Make sure this is available to the clients from start to finish, as well as emergency numbers for vendors that can handle the unexpected. Broken pipes, clogged toilets, non-functional appliances - the better you anticipate and prepare for contingencies, the better the rental experience will be for yourself and your clients.
Rental Management Ensures a Total Immersive Experience
Best practices are only as effective as your ability to follow through, and chances are, your rental property isn’t easily or immediately accessible to you. The process of marketing, managing, maintaining, and renting your property has its costs measured in time and resources invested. The best thing you can do to streamline the process is outsource vacation property rental management to a service that specializes in rental and Airbnb management.
While these services cost a percentage of the rental fee in booking and services, it takes the onus of performing these tasks off of your shoulders and ensures a constant stream of renters who have positive experiences. WIth services ranging from optimizing the listing, booking, and post-stay follow up to full property management including turn-over, cleaning, and repair management, companies such as Venture Yours take the burdens of vacation property management off of the owner and ensure renters have a perfect experience. Have a property you want to list? Reach out to Venture Yours today to explore our property management services and how we can ensure travelers have the best experience possible at your rental property.