If you’re lucky enough to own a vacation rental property, congratulations! You’ve got a great opportunity to generate income while enjoying all the benefits of owning a second home. But before you start booking guests, there are a few things you need to do to get your property ready to rent. Here’s a rundown of what you need to do to manage a vacation rental property in 5 steps
1. Promote your property.
The first step to renting out your property is to get the word out. There are a number of ways to do this, including listing your property on vacation rental websites, placing ads in local publications, and even hanging flyers in popular tourist areas. You can also talk to friends and family who might be interested in renting your property. One of the best ways to promote your property is word of mouth. Give renters a reason to leave a good review–whether this be excellent service or small incentives. Think about how great marketing simple social outreach can be. Even a few 5 star reviews can go a long way. Whatever marketing methods you choose, make sure you are clear about the features and benefits of your rental property so potential renters can easily see why it would be the perfect vacation spot for them.
2. Screen your guests.
Before you hand over the keys to your property, it’s important to screen your guests. There are a few things to consider when screening guests for a vacation rental property. First, consider the number of people that will be staying in the rental. You will want to make sure that the number of guests does not exceed the maximum capacity of the rental. Second, think about the purpose of the rental. Is it for a family vacation? A romantic getaway? A business trip? Once you know the purpose of the rental, you can better screen guests. Finally, take into consideration the length of the rental. Longer rentals may require a more thorough screening process than shorter rentals.
As the owner of a vacation rental property, it is important to screen your guests in order to ensure a smooth and enjoyable experience for all. There are a few key things to look for when screening guests:
- Are they respectful and communicative?
- Do they have any reviews from previous stays? –
- Do they have any specific requests or requirements?
- Are they financially able to cover the cost of the stay?
By taking the time to screen your guests in advance, you can help ensure that everyone has a great time during their stay at your vacation rental property.
3. Set up a system for bookings and payments.
Once you’ve found the perfect guests, you’ll need to set up a system for bookings and payments. There are many ways to set up booking and payments for your property, and this and it really all depends on what kind of vacation rental property it is. For example, if it is a small vacation rental property, you may just want to use a system like Airbnb or Vrbo, where people can book and pay for their stay all in one place. On the other hand, if it is a larger vacation rental property, you may want to set up a website where people can book their stay and then pay separately through a system like PayPal, Venmo, or a third party credit/debit service. Overall, setting up a booking and payment system for a vacation rental property is fairly easy and there are many different ways to do it – you just have to choose the best method for you and your vacation rental property.
4. Keep your property well-maintained.
One of the most important things you can do to manage a vacation rental property is to keep it well-maintained. A rental property needs to be well-maintained in order to keep guests happy and to avoid expensive repairs. Some simple ways to keep a vacation rental property in good condition include:
- Inspect the property regularly and address any problems immediately.
- Keep the grounds tidy and free of debris.
- Make sure all of the appliances and fixtures are in working order–do this after each guest.
- Repair any damage as soon as possible.
- Schedule routine professional cleaning and maintenance.
Hiring third party vacation rental cleaners is certainly an investment to make, but it is probably one of the best ones you can make, especially if you are looking to manage your property from afar.
5. Be responsive to your guests.
In order to keep your guests happy, you need to be responsive to their needs. This means being available to answer questions, resolve any problems, and generally be available for anything they need. Responding to your vacation rental property guests can be a bit daunting, but following a few key steps will help ensure a positive experience for both you and your guests. First, take the time to read through all inquiries and reviews thoroughly. Address any specific concerns or questions the guest may have in a timely and professional manner. Secondly, be sure to be accessible to your guests during their stay; this means having a way to be reached in case of any emergencies and being available to answer any questions they may have about the property or the area. Finally, take the time to thank your guests for their stay, and if possible, invite them to leave a review of their experience. By following these steps, you can create a positive and responsive relationship with your vacation rental property guests–a good relationship with your renter, will create great word of mouth and business for you.
By following these tips, you’ll be on your way to successfully managing a vacation rental property.