If you don’t hire someone to field these inquiries, you’ll have to do it yourself.
1. Keep Your Renters Happy
Meeting the high expectations of vacation renters requires a ton of effort. Today’s renters expect pristine furnishings and conditions inside and outside the property. Depending on your niche, market and how you have marketed your vacation rental, you’ll need to have a system in place to ensure that it’s completely cleaned up and ready to re-rent every few days.
This means clean linens, pristine kitchens and bathrooms, wiped-down furniture, and a dwelling that smells fresh, pleasant and clean from the second each new group of renters walks in. This takes an intense housekeeping effort ? and costs a significant amount of money.
There are significant costs associated with failing to keep your renters happy. If a renter shows up at your vacation rental for their dream weekend and the air conditioner isn’t blowing cold air or if the water heater is having problems, you don’t have a couple of days to fix it as residential landlords usually do. You or your handyman have to make repairs quickly and effectively within an hour or so, max. Otherwise, the renter may file a chargeback with their credit card company or trash your vacation rental’s reputation on Yelp, HomeAway.com and other websites future renters may visit.
2. Don’t Get Blindsided by Furniture Costs
Prepare to furnish the entire vacation rental property at once after you purchase it. Most residential landlords don’t have to worry about this, of course, so the costs often take new vacation rental landlords by surprise.
Attractive, comfortable and well-made furniture is expensive. You can easily spend $20,000 to $40,000 on furniture and d?cor on a medium-sized rental house. That’s enough to eat up the first year of rental income that in-demand vacation properties can earn.
3. Take the Long View on Vacation Rentals
While the high expenses associated with purchasing, marketing and furnishing vacations rentals and limited peak tourist seasons found in most resort areas make it difficult to turn vacation properties into profitable rental income generators, you still get the benefit of long-term capital appreciation.
Additionally, if you’re able to get a great deal on a future retirement home today and can offset the costs of ownership in the years prior to retirement by renting it out, purchasing a vacation rental could be an excellent way to go.
FORT LAUDERDALE STAYS VACATION HOME RENTALS:
Offering some of the finest Ocean View Condos and Private Heated Pool Homes on Fort Lauderdale’s Waterways and Surrounding Neighborhoods! Our goal is quite simple; to make you happy by fitting you with the right home. We choose all the properties that we own or manage very carefully, keeping the vacationer in mind at all times. Our properties are well stocked with all amenities to help make your vacation destination a true home away from home
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