There are vacation rental properties and there are great vacation rental properties. Owning a great rental property can make you stand out from the crowd and will ensure that your property is rented as often as you’d like it to be. This will also ensure that you not only get good money, but repeat customers. There are two types of rental properties – those that are used by the owners, and those that are not. Often those used by the owners are favored as they tend to be kept cleaner, more up to date and feel more like a home away from home. Regardless of whether you choose to use your rental or not, let this be your guide to owning a great rental property. Conversely, if you are a renter, use this as your resource to help you choose a great rental home.
Enlist the help of a good rental real estate agency.
A real estate company will act as the liaison between you and the renter. They have bound legal contracts to help protect both you, the renter, and the tenant. A Realtor will help to screen the renter to fit your specific guidelines and parameters. A Realtor will also take photographs of your property and list them on their website. Most rentals are found on the internet. If you want to be involved with the process, you can ask the real estate company to share any information they have on the parties interested.
Keep your rental current.
No one wants to feel as though they’ve stepped into a time warp. Vacationers want the same amenities and comforts they have at home. A bright roomy space that can comfortably accommodate friends or family. Furniture should be clean and look fairly stylish. This isn’t to say you must spend a lot of money to furnish your rental – not at all – but you don’t want your guests to feel as though they’ve walked into a home that has discarded furniture. Furnishing a rental property with items from consignment shops and tag sales is perfectly acceptable, providing your items don’t look beaten up.
Nor do you want to place your better pieces in a rental home. Soft furniture – couches, chairs, sectionals, etc, should look fairly new and clean. Have slipcovers made to protect original upholstery and choose colors and patterns that stand up to frequent uses. While white and neutral colors are pleasant, they are not practical! Spills will happen. Be prepared for them. Walls should be or look freshly painted. You may want to wipe them down at the beginning and the end of each season.
Make your home feel like a home away from home.
This can be done at a minimal expense. It really doesn’t take much to add some personal touches to make your guests feel as though they’re home away from home. Here are a few simple things that will make a big impact:
- Hang artwork/photography on the walls
- Add extra pillows and throws on the couch
- Have vases on hand for flowers
- Tour guides or books if your home.
Have a well stocked kitchen.
While renters often eat out, and often, while they are on vacation, most will take full advantage of a well stocked kitchen and many meals will be prepared and enjoyed in your rental property.