Since the vacation rental industry has an explosive boost and became a multi-billion dollar industry, many homes located near resorts and national park areas have been converted into vacation rentals by the homeowners. And with more tourists coming every year to their favorite tourist spots, this is an indication that homeowners should consider their extra homes or part of their homes to be used as vacation spaces.
If you are thinking about turning your home into a vacation rental, you have to consider some factors that will ensure you make the right decisions. Renting your home is not as simple as accepting people to live in your house and paying you when they leave. Your temporary tenants are your responsibilities and anything that can happen to them or to their properties can also be your responsibility. So you have to check with your city or community’s homeowners association about guidelines on how to turn your abode into a rental place. You may also need to pay taxes with it. However, turning your home into vacation rental can be easy as long as your home can be a safe place to live and you have the amenities to provide your tenants comfortable stay.
So here are some tips to give you ideas on how to have an extra income out of your home.
10 Steps in Making Your Home into an Ideal Vacation Rental
1. See to it that your home is most suitable to be a vacation rental. Since there could be some homes in your area that may also be accepting rentals, your home must also have unique features to attract vacationers. Your property should be desirable, have good amenities and located in a marketable place and that means it is situated in or near a tourist spot where people from other places would take days to have their vacations. Is your home has great view? If it does, you can still enhance it. Does it have a good connection to the internet? If it doesn’t have it, apply for it. Your guests will definitely need it.
2. Your home vacation space should have nice and working interior and exterior features. Make sure everything inside and outside your property is working well, presentable and always look new. You can do repair, add more furniture, have nice beddings and put on a nice lawn or landscape.
3. If you can’t afford to clean the space regularly, find a good housekeeping service. It will be a good point if you can hire a regular and trusted cleaning service for your home rental. If there are many available home vacation spaces in your area, you can have an advantage with your clean and neat space.
4. Have an organized and secured key system in your office. Normally, it would be ideal to have a key system with lock in your home or in your office to keep in the keys. Without it, your tenants and their properties would be at risk. Hold the key to this system and no one must hold it except you or your wife in case you are away. Kids sometimes misplace keys. Also, make sure the keys are returned to you prior to the guests leaving your home.
5. Make some rules for your home rental. You need to set some rules for your guests to follow and tell them these are necessary for their own protection such as the proper use of electrical appliances, the use of trash cans, where dirty clothes should be put, avoidance of creating noises, and so on. Rules can favor everybody not only your guest but other people as well.
6. Promote your home rental into something inviting and show it as a secured place. Use your talent in creating homey pictures out of your home if you want to attract potential residents. You will be giving clear visuals to people on how they can enjoy your place and you just need a high resolution digital camera for this. Post the pictures on a tourism website or in your blog. Or you can hire someone to do a professional job in creating pictures showing the greatest ambiance of your home. With your pictures, you must also have a good description of your property with accurate information.
7. If you have a large home or numbers of properties you want to rent out, you can also hire rental agents or a property management firm to manage your properties. These groups can also do the promotion for you. They know what to do to make your properties very in-demand in the market. You just monitor them regularly so that you know what’s going on with your properties.
8. Buy vacation rental software if you are not sure on what to do to make your home rental vacation an ideal one. The software will give you a clear idea on how to manage a vacation house and will tell you all about stuff with regards to promotion and security.
9. Ready your database for your marketing and booking reservations. Since you are now ready to accept vacationers, you must all be ready to have an online system and an efficient database to keep everything in order with an easy access.
10. Securing your properties with regular monitoring. Sometimes it is necessary that you must hire someone to guard your premises. Visitors will also appreciate this and they can have a peace of mind knowing somebody guards them and their belongings. Burglars are everywhere and it is your reputation that is at stake once you go into home rental vacation business. Regular monitoring by guards will also prevent accidents, more damages and possible loss of lives and properties.
Now that you have some ideas on how to turn your home into a vacation rental, perhaps you can now take a closer look if you can turn your home into a business-home opportunity. You may spend considerable amount of money with the renovations and repairs but it would surely worth it once you start earning money from the vacationers.