Your Home Is An Untapped Source Of Income

Dated: 03/30/2020

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If you travel often or only live in your home part of the year, you may be missing out on some serious cash to help offset your expenses. If you’ve never considered it before, now is the perfect time to mull turning your home into a vacation rental. But it takes more than a listing to make your rental a success. Whether you’re converting your existing home or plan to buy a vacation property in the future, here are a few tips on how to make it a favorite.

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Get started by calling in the professionals

For starters, you need to make sure your property is in tip-top shape. Be sure to hire the right professionals to help you so your home will really stand out. For example, a landscaper will ensure your yard is lush and gorgeous, while a professional cleaner will clean every single nook and cranny of your home (maid services cost $150 per cleaning on average). Working with these specialists in the beginning will also give you a trusted pro to call if you need any last-minute work done before your next renters come knocking. Once these tasks are taken care of, don’t forget to take professional-quality photos of the interior and exterior of your home, which will make your place look irresistible to vacationers when they’re browsing online for a rental. You may be best off hiring a professional photographer for this job (real estate photographers typically charge $110 - $300 per shoot). 

Keep it clean

Even if you work with a cleaning service in the early stages of renting out your home, one of your most important priorities is to keep your property clean. Dirty sheets, unswept bathrooms, and dishes piled in the sink upon your guests’ arrival is a sure sign the property isn’t well-maintained. Keep in mind that people go on vacation to relax, and it’s almost impossible to do so in a dirty or cluttered setting. Unless you plan to handle cleaning and maintenance on your own, hire a property management company to do this for you, but be sure to get references and verify their insurance before signing a contract. A property manager can also take care of guest bookings and provide day and night support.

Keep it correct

Just as important as keeping the property clean is ensuring that it looks the same online as it does in person. Further, any amenities that you describe should be fully usable by your guests. For example, if you claim the property has a view, make sure it’s unobstructed when they visit.

Stock it well

Your guests have likely chosen to rent outside of the hotel scene so they can enjoy the conveniences of home. Give it to them by including a few staple items in the kitchen and providing guidebooks, family-friendly games, and small kitchen appliances so they can prepare a full meal with ease. Supply fresh towels, a hairdryer, and toiletries in the bathroom. If you have the funds, you can make a great first impression – and hopefully capture a five-star review – by going above and beyond. Something as simple as a welcome basket or breakfast items in the fridge will go a long way toward enhancing their experience.

Decor and more

Your rental should be decorated to appeal to the kind of visitors you’ll receive, whether your home is on the beach or in the mountains. Renters will also want to be comfortable, so be sure to provide plenty of blankets and pillows to cozy up the couch, and pay extra attention to your mattresses. A vacation rental property should feature comfortable bedding and a mattress that can stand up to repeated use.

Why Wi-Fi?

Wi-Fi is a necessity, and no amount of thinking your visitors want to escape reality can change this. While there are some resorts that cater to the wilderness traveler, the vast majority of rentals need wireless internet, along with other modern conveniences such as Netflix and smart televisions. These amenities may be conveniences, but they are now considered standard, even if not explicitly stated in your property description. Other technology visitors may expect include a gaming console and landline phone, the latter of which is especially important if cell service is spotty in your area.

Turning your property into a vacation rental takes work, but it’s work that could potentially pay off in hundreds – and possibly thousands – of dollars each month in added income. But don’t just take a few photos and expect the money to come flying in. It takes work to prep your property, and you’ll have to continue to maintain all the conveniences of home even when you’re away. With the right marketing, upkeep and amenities, you could have a special haven on your hands that pads your bank account for years to come. 

This Article Was Written By Guest Blogger:

Erin Reynolds of |

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Taj Richardson

Meet Taj Richardson: I have lived on the Oregon Coast since 1994. I graduated from Nestucca High School in 1996. After several years in college and traveling, I made my way to Lincoln City in 2003. I ....

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