Running vacation rentals is easier than ever. All you need is a spare room, and you can list it on short-term rental websites to start earning extra cash. That's why it's no surprise that the supply of vacation rentals keeps growing by 15% per quarter.
However, you'll need to do things right if you want to rent out your house successfully. Read the guide below to get started in the short-term rental market in Houston.
Do Things Legally
Unfortunately, short-term rentals are no longer legal in many areas. Cities have started passing laws preventing people from using Airbnb and other services exclusively for their properties. The concern over housing started this trend.
Before you list your home, make sure you can list your home on the short-term rental market. Otherwise, you may end up buying property in an area where you can't rent it for money.
Advertise Correctly
Your goal with short-term rentals is to keep it booked as much as possible. However, this won't happen if you don't properly advertise it on booking websites.
There are many things you can do to do this:
- Take professional photos
- Accurately describe the amenities
- Price competitively
Additionally, request that your guests leave honest guest reviews after their stays. The more positive feedback you have, the more attractive your property is to new guests.
Screen Guests
The last thing you want is property damage after a guest leaves your home. But this is what will happen if you rent it to anyone without any screening.
Ensure you put requirements on guests before renting to them. List restrictions on your home, like no partying, to ensure you attract the right people. If you want to do medium-term rentals, you may need additional screening.
Maintain the Property
Another concern you must have with your rental property is maintenance. Although guests may not have much time to damage your property, it may still occur over time due to wear and tear.
Before you rent your vacation home, ensure you get an inspection. Take care of any pressing issues and set a schedule to do future maintenance. Preventative work like this will ensure your home doesn't have unexpected issues.
Stage for Guests
You need to make your property appealing to guests if you want to rent it and not just yourself. Your unique decor may work for you but may put off some travelers and detract from the guest experience.
Look at what people search for on short-term rentals and decorate accordingly. Put the items you don't want guests to access in storage to ensure guests only access the things they are supposed to.
Rent Out Your House Today
If you plan to leave your home for a while or just have an extra property, renting it to travelers on vacation is a great way to make some extra money. However, you'll need to put in some effort if you want to get great reviews and a constant stream of guests. Follow the advice above to rent out your house with success.
Are you looking for help managing your rental? At PMI Infinito, we offer short-term rental management to help investors with every part of the process. Talk to our experts today to learn more about how our services can help.
