Real Estate

How to Make Big Bucks from Your Vacation Rental

If you decided to turn your property into a vacation rental, you’ve made a wise choice. That
second home, or even the first if you’re not living there, is a cash cow just waiting to be
exploited, with the potential to bring in thousands of dollars in extra revenue each year.

Beware: There are more than enough failure stories of landlords who lost a bundle when
nobody took interest in their piece of paradise. The competition can be fierce, especially in
popular holiday destinations near the beach, in the mountains, or in a big city. If you want to
succeed, you need to understand the business, then make your property stand out.

Here are some tips that will help you net your first clients, then keep more coming in.

Learn About Your Clients
Begin by asking yourself this question: Who do you want to rent this place? That depends a lot
on location as well as the size of your property. If you’re near a party hotspot, renters are likely
to be the young and restless, while someplace off the beaten path might attract an older crowd.
And don’t expect too many families to come knocking if you’re offering a studio.

Develop a Marketing Strategy
Now that you know who your potential clients are, develop a plan to get their attention. That
does not require a lot of money; instead, you’ll need some internet and social media savvy. One
way to reach out is by posting updates to the likes of Facebook or Instagram in a voice that suits
your audience, with links to your blog or website.

Highlight Your Selling Points
Grab a pen and paper, make a list of your property’s best features, then give them a mention in
those social media and blog posts. Even better, include some photos. It’s much better to show
potential clients that view of the sea rather than simply tell them about it.

Carry Out Renovations
First off, don’t do anything that would subtract from your property’s best features, which means
not modernizing an old-fashioned farmhouse you’re pitching. Instead, focus on low-cost fixes
that offer maximum return on investment, such as installing new windows and doors for curb
appeal. Furthermore, one industry insider speaking to Realtor.com suggests sprucing up
bedrooms and bathrooms to convert browsers into buyers.

Beautify the Landscape
Don’t spend all your energy on the interior, as vacationers also spend time outside in the sun.
Give them an enticing garden in which to do that, with a splendid mix of ground cover, trees,
shrubs, and flower beds. All of those should be easy to maintain, unless you enjoy spending
hours digging in the dirt between guests.

Keep It Clean
Even with a cozy interior, stunning landscape and attractive amenities, your property could get
panned in reviews if guests encounter too much dust, dirt, and grime — even just a little. A top-notch vacuum is what you need to keep it spotless, and there are plenty of models on the
market. Read reviews and guides to avoid making a costly mistake.

Add Some Amenities
Often it’s the little perks that make a looker hit the “book” button on your webpage. While
everybody expects a washing machine and WiFi connection, a pool table or media room would
really turn their heads — though don’t forget about to whom you’re marketing, too. Older
couples probably wouldn’t be too impressed by a gaming console, for example.

Be a Good Host
That vacuuming and scrubbing are just the beginning when it comes to providing an excellent
experience for your guests. The experts at Hostfully insist on the importance of customizing
your welcome so that every guest feels special. Greet everyone by name, then offer a gift or a
guide to the local attractions and points of interest.

Now you’re on your way to solid residual income while making new friends along the way. You
just might find yourself seeking a new property to replicate this success, and why not? It’s hard
to turn down the money when you’ve had some success.

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