In the hospitality world, vacation rental management has exploded in popularity in recent years. As more and more vacationers and travelers seek out alternatives to your typical hotel or motel stay, vacation rentals are growing in popularity and number. In fact, in 202, the global vacation rental market was valued at just over $74.6 billion. That number clearly shows that guests love staying at vacation homes and this number looks only to grow.
Looking to get in on this growing market? If you own a spare property, you can turn your home into a vacation rental and reap the rewards. Here, we’re taking a closer look at some ways that you can transform your home into the hottest vacation rental property on the block. By knowing what your guests will want and need, you’ll be better able to keep your vacation property booked throughout the entire year and have guests excited to return next year. And what does this all mean to you as the property owner? More profits for you.Â
5 Ways to Turn Your Vacation Home into the Hottest Vacation Rental
Looking for some tips on how to transform your property into the hottest vacation rental in town? Read below to get started:
- Stock up on all the necessities: if you run out of a necessity at a hotel, like toilet paper or towels, you can simply call on housekeeping to help you out. But what do guests at a vacation rental do? It isn’t always as easy, which is why you want to try to avoid these problems before they occur. Before allowing guests into your property, make sure you’re all stocked up on the necessities. This will include towels, toilet paper, paper towels, garbage bags, and even hygiene products like soap and shampoo.
- Spruce up the exterior, not just the interior: while you may primarily focus on how your home looks on the inside, don’t forget about the first impression your guests will have. The exterior of your potential vacation home is also important, which is why many vacation homeowners invest in some high-end landscaping to make their yards, gardens, and outdoor spaces look amazing.
- Keep a locked room or cabinet: many homeowners may keep certain items or valuables in their spare property. This doesn’t mean that you can’t still rent out your spot to guests. The solution here is simple. Depending on how many items you want away from guests, lock up a cabinet to store all your valuables. If there’s a lot you want to keep under lock and key, feel free to lock any room and make that off limits. Guests will respect these boundaries and you won’t have to worry about any tampering with the things you care about.
- Set some house rules: just because you aren’t at your property when guests are staying, this doesn’t mean that you can’t set some ground rules. At the end of the day, this is still your property. This means you can, more or less, establish whichever rules you’re comfortable with. For example, some property owners may decide whether or not they allow pets, if doors should be locked when they go out, or if there are any quiet hours in the neighborhood. Establishing simple rules and posting them somewhere visible on the property is an important step.
- Cleanliness is key: whether at a hotel or vacation property, no one wants to stay at a messy spot. Before inviting guests, make sure that the property is spotless. Of course, it’s also important to clean regularly between guests so that no one’s dealing with the mess of a previous guest. While this can seem pretty labor intensive, many property owners end up simply hiring a cleaning crew to come by in between guest stays. Alternatively, you can also hire a vacation property management firm to take care of the cleanings and practically everything else.Â
Call on an Experienced Vacation Rental Management Company
Last but not least, you should consider calling in some professional support to really make this process convenient and effective. By hiring a vacation rental management company to represent your property, you’ll be leaving your spare home in the hands of industry experts. They can handle the vacation rental process from start to finish so that you don’t need to worry about upkeep, maintenance, or dealing with guests. This option is especially valuable for property owners who may be far away from their vacation property.
What can a vacation rental management team do for your property?
- Handle all guest services.
- Help keep your property booked.
- Collect payments from guests.
- Clean the property.
- Handle any maintenance needs.
- Market your property.
Conclusion – 5 Ways to Turn Your Vacation Home into the Hottest Vacation Rental
If you have a spare home you hardly frequent, isn’t it about time to make this property start working in your interest? Even if you visit your vacation home once or twice a year, what about the other 50 weeks? Turn your spare property into a profitable asset by using it as a vacation rental property. Welcome guests to enjoy your property throughout the year and enjoy the profits.
But there are a few things to keep in mind before opening up shop. Make sure you’re all stocked up on necessities, use a locked cabinet (or even a complete room) to store any of your valuables, and don’t forget to spruce up your landscaping outside. And if you really want to make a splash, work with an experienced vacation rental management team.Â
These professionals can handle the vacation rental process from start to finish. They’ll market your property, take care of all your guest services (including collecting payments), and even provide maintenance and repairs if needed. Simply enough, they’ll take the burden off your shoulders so that you can sit back, relax, and let the profits roll in.
