Running a vacation home rental is a competitive and rewarding opportunity for people who own a home and even more so more for people who own a home in the number one tourist destination in the United States – Orlando, Florida!
Here are our top tips on how you can maximize your vacation home rental profits this year:
Make Your Vacation Home Feel Like Luxury
If you have not yet purchased a vacation home in Orlando, it is always important to look for a home that will give you a great return on your investment. This does not mean that your home has to be the best of the best and top-tier in pricing. However, we do recommend looking home in a community that is not too far from all the action that Disney has to offer. It’s then makes it easier for your guests to enjoy their stay.
If you already own a vacation home in Florida and it is a few years old, it is not too late to make your home feel like luxury for your guests! Making a mood board on Pinterest and redecorating is a great way to change your home and make it look brand new on the surface level.
If your home is a bit out of date, we think it’s a good idea to invest in making common areas like the kitchen, living room, and outdoor area look their best working with a contractor or interior designer.
Comparing your vacation home to the ones around you is a great way to feel out the competition and find out what you you need to add in.
List Your Home as Often as Possible
If you want to maximize your rental income, you’re going to want to lay off of staying in your vacation home too often. During peak season and high traffic holidays, it is always a great idea to leave your home vacant and ready for guests. This is also a great time to take advantage of the competition and raise prices.
Have your Home Professionally Photographed
Would you ever trust a listing that didn’t have any pictures at all or better yet had dull and dim cell phone pictures as their vacation home example? Getting professional pictures (and video) taken can change the game forever. Most of your guests will be finding your home on the Internet and will make first judgments based on how great your photographs look. You’ll need them to fall in love with your vacation home from the moment that they scroll through your photos!
Bright and happy pictures are always the way to go for vacation home rentals. You’ll also want to photograph the community as well and include some pictures of fun things to do in the area.
Work with an Experienced Property Manager
With Orlando being the number one tourist destination in the nation, the competition for vacation home rentals is HOT! You’ll need to stay competitive by knowing when to increase and decrease pricing as well as providing amenities and benefits that your homeowners will love.
Working with a highly Professional Property Management Company can help you rent out your vacation home without you having to stress and keep up with all of the hype. With proper help it doesn’t matter if you’re out of the city, state, or country so long as you have a reliable property manager you can count on.
Working with a property manager also ensures that your property remains in great shape. You will have managers who are always treating your home as if it was their own. Property managers make sure that maintenance, cleanings, and repairs are always made on time, track rent payments, collect late fees, deal with complaints, avoid legal hassles, prep the property for new tenants, and so much more. Why not sit back, relax, and enjoy the benefits of owning a vacation home business rather than stressing over all of the responsibilities?
Blog by Amy at Vacay & Co Real Estate.