Florida saw nearly 123 million tourists in 2023, making it the most visited state in the country.
Lake Worth property owners should see these numbers and get excited. Your property could be a major money maker as a vacation rental if you play your cards right. Deciding to rent out your house doesn't guarantee vacation rental success, however.
Today, we'll give you a bit of advice on vacation rental management. Follow our guide and you'll be able to get your rental set up and ready for renters in no time.
Prepare the Home
Start by preparing your home for renters. If your home looks lived-in, it's not going to appeal to tourists as an Airbnb. Take down photographs and remove personal belongings so that the unit is more neutral.
You want your guests to feel at home during their stay. The more de-personalized your property is, the easier it'll be to secure guests and decrease vacancies.
Take Marketing Seriously
Once your home is ready, the next thing to do is create your property listing. It's important to write a detailed description of the property itself, as well as the local area. Take note of any specific amenities in your neighborhood, such as restaurants or shopping, that might appeal to guests.
You also need to take plenty of professional-quality photographs of the unit. Having done that, you can post your property to the rental listing site of your choice. If need be, consider implementing digital marketing tactics, like SEO and paid ads to get more eyes on your listing.
Pricing Strategies
When you're starting your first vacation rental, you'll be competing with dozens of more established rentals. The ones that have lots of positive guest reviews are the ones that renters will look at first. To combat this, you need to come up with a solid pricing strategy.
Offer competitive pricing and use a sliding scale depending on the season. If your unit is slightly more affordable than other similar ones, you'll be able to secure guests. Bring the price down during slow seasons and put it back up during busier times of the year.
The Importance of Guest Management
Securing guests is just one part of the job. When you've got them in the unit, you need to do everything you can to ensure they have a positive experience.
A lot of new vacation rental owners think they need to go above and beyond to please their guests. If you're too overbearing, it might be off-putting to most of your guests. From check-in onwards, make sure your guests know you're around to answer questions but stay out of their way beyond that.
When happy guests check out, make sure to ask them for a positive review. The more positive reviews you accumulate, the easier it will be to secure future guests.
Rent Out Your House With Property Management
When you do everything right, you can easily rent out your house to vacationers and make great money. Getting a steady stream of guests is only going to make your life busier, however.
If it's starting to get overwhelming, hiring short-term rental management is the move. A company like PMI Jewell can assist you with everything mentioned here and more. Contact us today and let us help you maximize your vacation rental.
