Domestic vacation properties have seen a major surge since Covid19. Many of us were looking for an escape while being in lockdown, while others saw the financial potential of renting a vacation. Whatever the reason vacation homes are always a good thing. If you submitted a question on how this process works this blog is for you! I hope these dos & don’ts are as helpful to you as they’ve been to my clients.

DO’S

1. Educate Yourself

No matter how easy something looks on HGTV I can guarantee you it will be harder in real life. Reach out to experts especially when buying! You want to make sure the property you purchase has the potential for rental income. Location matters! Also, making sure the property has an inspection done is key. You want to make money not spend money.

2. Screen Your Renters

Please do this. I’ve heard many horror stories from those that haven’t, and they live with major regret. You want people who are responsible and will value your home just as you do.

DON’TS

1. Don’t Skip Out On The Details

Clients love the little things when it comes to rentals. A booklet on local food recommendations goes a long way. So does fresh cookies, a kind note, or a welcoming fire pit. These little things will set you apart in the saturated rental property world.

2. Don’t Forget The Basics

The basics are towels, toiletries, and simple coffee/tea. This makes your rental comparable to a hotel room in the same area. People have grown accustomed to travelling and having these amenities provided within the places they stay. You want to make sure you can compete and stand out. Not giving your guest anything to complain about is critical. Instead, create opportunities for them to brag about your rental to others.

It’s a basic human desire to have a place where you can escape and relax. It’s in these places that we enjoy moments with those we love and create new memories with them. When we have rental properties we have the opportunity to create an atmosphere to facilitate this for others, and at the same time generate income to enjoy our own lives more. It’s truly a win-win for all.

Interested in purchasing a rental home? I’d love to help you!