Only an estimated 43% of Lake Worth Beach homes are owner-occupied, a much lower rate than other parts of the nation. While our Palm Beach city is brimming with vacationers looking for rental properties, the competition for property owners is stiff.
If you're thinking of listing your home for rent, you're in the right place. At PMI Jewell, our goal is to help property owners make the most of their investments, and it all starts with your listing.
Read on for our step-by-step guide to listing your home for short-term rentals in Lake Worth Beach.
Make Your Property Desirable
Vacationers are looking for the best properties at the best prices, and popular platform Airbnb just made that search easier. Before you list your home for rent, whether it's your primary residence or an investment property, you'll need to:
- Depersonalize by removing family photos and personal items
- Declutter and deep clean
- Fix maintenance issues
- Add cosmetic improvements
- Furnish and stage rooms for ease of use
Don't make your listing public until you're ready to take on renters.
Find Your Target Audience
As we mentioned earlier, the competition to find short-term renters is steep in Lake Worth Beach. The best way to position yourself as a strong contender is to determine your ideal guest and market your property to them.
If you're renting a full multi-bedroom house, your property may appeal to families, wedding parties, or groups of friends. A small property like an apartment or condo may appeal to solo travelers or couples. Use your property descriptions to show the appeal of your property to your target audience.
Set a Rent Price
Partner with a company like PMI to perform a thorough rental analysis. Rental analysis combines market research with predictions of future trends to determine a fair, competitive, and profitable rental price. To conduct rental analysis, we look at things like:
- Property size
- Property location
- Property condition and amenities
- Rental prices of comparable properties
Keep in mind that you may not see a consistent ROI if you don't practice dynamic pricing. Offering things like early bird deals or lowering prices during the off-season can keep your property rented out year-round.
Create an Airtight Listing
A great listing will catch the attention of potential renters. An honest listing will yield the best reviews. Make sure to include the following in your short-term rental listing:
- Accurate property descriptions
- Quality real estate photos
- Transparent pricing and rules
- A list of nearby amenities
Once you have a great listing, it's time to put together a marketing plan. In addition to using a rental listing platform, we recommend advertising your property on social media and via email to widen your reach.
Listing Your Home for Rent? Partner with PMI Jewell
If you're listing your home for rent in Lake Worth Beach, you're not alone. PMI Jewell can give you the competitive edge you need to attract vacationers and keep your property booked.
PMI is more than just a rental listing platform. We provide hands-on property management so you can enjoy passive income. Contact us today to learn more.
