Do you have a vacation home that sits empty sometimes? Transform your vacant vacation home into a lucrative rental property! Attract vacationers and remote workers with simple updates that create a relaxing and work-friendly environment.
What To Do With Vacant Vacation Rental Properties?
Some owners sell their properties they hardly use, but there is another option that owners may want to consider: turning their vacant vacation properties into lucrative rental properties.1 There are a number of ways to turn a vacant vacation property into a lucrative rental property. One option is to rent it out to traditional vacationers. This can be done through a variety of channels, such as online listing sites, travel agents, and property management companies.
Another option is to rent it out to remote workers. This is a growing trend, as more and more people are choosing to work from home. Remote workers are often looking for places to stay that are comfortable, have good internet connections, and are located in desirable areas. That way, they can work and play!
Turn Your Vacant Vacation Home Into a Lucrative Rental Property
If you have a vacant vacation home, you may be wondering what to do with it. One option is to turn it into a lucrative rental property. This can be a great way to generate income and offset the costs of owning a vacation home. There are a few things you need to do to get started, such as:
- Research the rental market in your area: What are the average rental rates for similar properties? What are the peak and off-peak seasons? This information will help you set a competitive rental rate for your property.
- Make sure your property is in good condition: This includes both the interior and exterior of the property. You should also make sure that the property is clean and well-maintained.
- Furnish your property with comfortable and stylish furniture: Guests will want to feel at home when they stay at your property, so make sure that the furniture is comfortable and inviting.
- Stock your property with essential amenities: This includes things like linens, towels, dishes, and cookware. You should also provide some basic toiletries, such as shampoo, conditioner, and soap.
- Set up a rental agreement: This document should outline the terms and conditions of the rental, such as the rental rate, the security deposit, and the cancellation policy.
- Market your property: Once you have completed all of the above steps, you need to start marketing your property. You can do this by listing it on online rental websites, advertising in local newspapers and magazines, and reaching out to friends and family.
Appeal to Traditional Vacationers and Remote Workers
When you are marketing your vacant vacation property, it is important to appeal to both traditional vacationers and remote workers.2 Traditional vacationers are looking for a place to relax and enjoy their time off, while remote workers are looking for a place to stay that is comfortable and has a good internet connection. Here are a few tips for appealing to both types of guests:
- Highlight the amenities that your property offers: This could include things like a pool, a hot tub, a fitness center, or a game room. You should also mention if your property is located near any popular attractions or activities.
- Make sure your property is comfortable and well-maintained: Guests will want to feel at home when they stay at your property, so make sure that the furniture is comfortable and inviting, and that the property is clean and well-maintained.
- Provide a good internet connection: Remote workers need a good internet connection in order to work effectively. Make sure that your property has a strong Wi-Fi signal and that the internet speed is fast enough to support video conferencing and other online activities.
- Be flexible with your rental terms: Some remote workers may need to stay for longer periods of time, so be flexible with your rental terms. You may also want to offer discounts for longer stays.
Learn More About the Topic
If you are interested in learning more about turning your vacant vacation property into a lucrative rental property, there are a number of resources available. Researching the possibility could help you discover a new way to leverage your vacation property and make money!