If you have a second home or vacation property you’re looking to sell, this market may prove to be exceptionally tough. That’s why leasing your property, at least for now, is something you should seriously consider. With the winter months upon us, now is the perfect time to start marketing your property for the summer season.
As a member of the Top 5 in Real Estate Network®, I have access to a plethora of information related to this subject, so I am well-versed on how to help facilitate the rental of your vacation property.
These five tips, for example, are from vacation property experts HomeAway.com:
- Study the competition. Look at listings for vacation rentals in your area to get an idea of what they offer and how much they charge.
- Take lots of great photos of your property. Note: No people in the photos, please! Make it easy for your prospective renters to visualize themselves in the scene. And be sure to “dress the set” the way professional photographers do, with an arrangement of colorful flowers on the coffee table, or a dining table set up for a family dinner.
- Talk to your real estate professional about listing your property on vacation rental/second home sites, and other marketing strategies that will garner the most exposure for your property.
- Run your vacation rental like a business. Build a team of reliable cleaning and service people, collect and pay local and state sales tax, get set up to accept credit cards, maintain an online availability calendar, and always respond quickly to inquiries from prospective renters.
- Remember: You’re in the hospitality business. Think of yourself as a host and your prospective renters as guests. With this mindset, you’re sure to be successful as a vacation-rental owner.
The above suggestions can help you get the jump-start you need to lease out your vacation rental and help start bringing in some additional revenue. Be sure to speak with a professional real estate agent where your vacation home is located for specific tips related to that area.