Most would agree that it’s always nice to have a second home you can retreat to, but if you’re not spending all year there, the next best thing is to let it earn its keep. For that reason, renting out your vacation property can be a great way to offset your expenses or even turn a something of profit considering your upkeep, but it’s not quite as simple as uploading some photos and hoping people take care of the place.
After all, your vacation home likely means something to you, as odds are you’ve spent time there with family, or it’s part of a longer-term investment plan. As such, when renting out your vacation home, you want to ensure it’s being properly managed but also that it’s providing a return on your investment.
That said, you might not have every moment of every waking day to care for it, and you many have many responsibilities back home to take care of too. So that can be quite intensive to manage if you’re not careful.
In this post, we’ll discuss how to get the most out of this experience while also limiting your stress:
1. Consider Selling A Feeling, Not Just A Home
When renting out your vacation home, while clean sheets and tidy rooms are fundamental, they aren’t the only factors that leave a lasting impression. If you’ve ever walked into a rental that just felt a bit flat, you’ll understand that if yours feels the same way, you may struggle to get repeat business. Now, you don’t need to begin decorating like a show home, but welcoming people to the area and designing for the kinds of guests you’d like, such as families on a winter vacation.
As such, you may benefit from providing a guidebook with your own recommendations, leaving a welcome note, and perhaps making sure the kitchen has everything it should. Design a space to your own needs but also consider the requirements of the guests you’re shooting for, also.
2. Let Systems Do Some Of The Heavy Lifting
You can only respond to so many messages and manage so many tenants before it starts to get tiring. That’s where a bit of structure helps, and so using tools such as booking calendars that sync across platforms, digital lock systems for easy check-ins you can approve ahead of time, and automated messages that confirm arrival details with emails can really help to make the process smoother, not just for guests, but for you. You might also consider working with a team that specializes in vacation rental management, especially if you’re not living near the property, because that means most maintenance and tenant interfacing efforts are well worth paying the fee for.
3. Think About Value Over Price
When renting out your vacation home, it’s tempting to simply match the rates of other rentals in your area. However, this approach might not accurately reflect your property’s true value, as vacationers aren’t just paying for a bed and a roof, they’re paying for an experience. That might include views, location, ease of access, or perhaps just how private the space feels. If you want to maximize value, try to lean into those things and invest in them, like building out a decking for better hosting.
With this advice, we hope you can continue to maximize value for your vacation home rentals.
