Vacation rentals have become a popular investment and extra income opportunity over the past several years. Many people want more than hotels offer, so they turn to individual rental units to get extra amenities and space. That's why there are now 785,000 hosts in the market.
However, you must create a great rental unit to attract quality guests. Follow the summer vacation rental tips below to create a popular vacation rental.
Understand the Location's Appeal
The first step to preparing for the summer months is understanding where you own a rental unit and what people look for in the area. Your goal is to provide all the services and amenities that attract quality guests.
For example, say you offer beachfront vacation rentals. In this situation, it makes sense to offer extra products to guests for when they are at the beach. You can provide extra beach towels, coolers, lounge chairs, and other items.
Create an Amazing Listing
Once you have a rental unit appealing for Sarasota summer stays, the next step is to advertise it to potential guests. This means posting online to booking websites for people to see. Be sure to do the following to make an attractive listing:
- Take great photos
- Create an accurate rental description
- List on multiple websites
These things will help expose your rental to more potential guests and make it an attractive option.
Set Competitive Pricing
The summer months bring more opportunities to make money in a vacation area. You won't be able to charge high prices year-round. You'll need to lower your rate because of the reduced demand to keep your vacancy rate down.
You can raise rent if you have property in an in-demand area. Check the average rental price your competitors charge and the price competitively to them.
Create a Rental Agreement
You want your guests to have fun when they rent your summer home. However, that doesn't mean they can do whatever they want. Some guests will use rentals to throw parties and cause problems if there aren't clear rules for what's allowed.
Create clear expectations for your guests with a list of house rules. Tell people what the limits are and the penalties for breaking them.
Work With Management Companies
Properly managing summer rental properties takes a lot of work. You constantly have guests rotating in and out, so you have a lot of upkeep to manage weekly.
Many rental property owners choose to work with property management companies. These companies can help you attract tenants, keep properties clean, and do maintenance to keep everything in great shape.
Take Advantage of Your Summer Vacation Rental
Sarasota vacation homes are a great way to put your money to work or take advantage of extra space to make extra cash. However, if you want to see success with your summer rental properties, you must do the work to ensure you have an attractive rental unit. Use the summer vacation rental advice above to maximize the next summer season.
Having the right help can make the difference between great vacation rentals in Sarasota, FL, and properties that are hard to manage. At PMI Sarasota, our short-term rental services can help ensure your properties are run well and guests are happy.
Contact us to learn more about our services.
