Top Tips For Renting Out Your Home This Summer
With the rising popularity of companies such as Airbnb, there are many benefits of becoming a BnB host or renting out your home as a vacation property - especially if you live in a busy city or an area that is frequented by tourists. However, renting out your home is not without its complexities - and requires a lot of careful planning to keep your guests happy and your home safe.
With that in mind, here are some top tips for renting out your home this summer.
Know exactly how to stage a vacation rental to boost your income. For example, you should ensure that the property is professionally cleaned ahead of time and free of clutter. This will instantly make the space appear more attractive and enticing to viewers.
Take clear photographs and videos of your property when you begin to advertise it as a vacation rental - ensuring that they accurately reflect your home. Dishonest advertisements will only lead to complaints further down the line - so it's better to be honest from the start.
Decide on the type of person you want to rent out your property to, and style it accordingly. For example, if you want to offer your property to those who are traveling for business - you might want to find a way to make your space more luxurious. Alternatively, families looking for vacation properties will probably be on the lookout for a space that feels like ‘home.’
Ensure that you are aware of the legalities of renting out your property ahead of time and that you follow all government guidelines and procedures. While this may be hard to wrap your head around, it puts you in the best possible position moving forward and can help protect you should things go wrong.
Take extra precautions to tenant-proof your property ahead of time to minimize the chance of expensive damages occurring during their stay. You should also ensure that you remove any items of value or have a special meaning. You may also want to install security cameras.
Be realistic about your pricing. While it may be tempting to set the price high on your rental, you need to ensure that you are not overcharging your customers - as again, this will only lead to complaints if they feel as though they are not getting good value for their money. If you aren’t sure where to start, compare your home to similar properties in your area and price yourself accordingly. Remember that prices can rise during holidays or events when the demand is significantly higher.
Remember that the smallest details often have the most profound impact. For example, purchasing high-quality sheets and pillows can make your home feel more luxurious and welcoming.
Put together a welcome pack for your tenants. This is an easy way to put a smile on their face and improve your relationship with them. As a result, they will be more likely to leave a nice review or make a second booking whenever summer rolls around again.
