Are you one of the 60% of people living in Sarasota, FL, who are homeowners? If yes, did you know you have a good opportunity to earn passive income from your property?
We're talking about renting out your home (or a part of it) to vacationers. The city receives about one million visitors every year, so it's not far-fetched to assume your vacation home rental can host a good number of these guests.
However, to successfully earn an income from this business, you must know how to go about it. Here are some home sharing tips to get you started as a vacation rental host.
Understand the Legal Requirements for Renting to Vacationers
In Sarasota, you must obtain a registration certificate for your vacation rental, and the minimum stay requirement is 7 days/7 nights. The property must pass a safety inspection test before the owner can be granted a registration certificate.
It's prudent to check all the regulations and ensure your home satisfies all the conditions for registration before you can start investing in its transformation into a vacation rental.
Prepare Your Home for Guests
Your home might have a well-equipped guest wing that you intend to rent out to vacationers, but that doesn't mean it's ready for renting.
Vacationers want a stylish and comfortable place to stay during their visit. As such, providing the bare minimum isn't going to work in your favor. Invest in comfortable beds and couches, ensure air conditioning and other appliances are working optimally, and provide high-speed Wi-Fi.
You'll also want to invest in features and amenities that can improve guest satisfaction. For example, you can install a keyless entry system to make check-ins and check-outs seamless.
Develop House Rules
Having house rules goes a long way in ensuring the orderly use of the property. They set expectations in terms of guest behavior during their stay.
For instance, you need clear check-in and check-out times. This way, guests will be sure to arrive at the property and leave in good time.
Ensure all your house rules are posted in a place where guests can easily find them. You can also send them a digital copy of those rules once a booking has been made.
Make a Vacation Rental Listing
Sarasota is home to thousands of vacation properties, meaning there's plenty of competition for guests. If you don't take steps to give your property some visibility, you won't guest guests.
Thus, to maximize rental income, make a property listing on popular vacation rental sites. These sites have millions of users, giving your listing a good chance of catching the attention of some of the travelers coming to Sarasota.
Home Sharing Tips That Work!
Renting your Sarasota home to vacationers is an ideal way to earn a steady passive income. With these home sharing tips, you're now in a good position to start your journey to being a successful vacation rental host.
Do you know what else will contribute to your success? Outsourcing some (or all) of your tasks to a short-term rental management company like PMI Sarasota. We're a full-service property management firm that's part of a larger company that's been perfecting the art of property management for decades.
Get in touch with us today!
