How To Make Your Vacation Rental Stand Out
Travelers are more and more demanding and can filter their searches according to the amenities they like on Airbnb and other vacation rental listing sites. That said, its important for your vacation rental properties to offer as many of these requested amenities as possible.
Getting a pool and renovating a kitchen is a lot more complicated than some of the other amenities, but if youre trying to get your vacation rental to stand out from the competition, you may want to concentrate on quick wins and vacation rental supplies. Analyze what you currently offer and what you can do to offer even more based on your target audience.
Here are some of the most important amenities you can provide at your vacation rental and that you can also add as an extra bonus.
Vacation Homes: The Best Way To Experience A Family Vacation In Kissimmee Florida
There is no better way to experience a family vacation than with Kissimmee vacation rentals. Imagine having all the comforts but with resort-style luxury!
Our travels have brought us to some incredible destinations. And along the way weve stayed in some very unique places. But we had never rented a home during our travels. So when Experience Kissimmee suggested that we try out Kissimmee vacation rentals while in Florida, we jumped at the chance. We loved the idea of being on vacation while still having all the amenities of home.
An Iron And Clothing Storage
An iron and an ironing board are must-haves for wrinkly clothes coming out of suitcases. Provide a simple suitcase stand in the closet so guests dont have to bend to the ground to sort through their suitcase, and leave plenty of empty hangers in the closet. A chest of drawers is an added benefit for many guests unpacking their belongings.
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Tips To Enhance Your Income From A Short
This year, local markets across the country are beginning to heat up for second homeownership, according to Forbes, leading some people to consider the idea of jumping into the vacation rental industry with the help of popular short-term rental sites like Airbnb, VRBO, HomeAway and many others.
If you count yourself among this group, youll need to know a few things before you even get started, such as demand for rentals, estimated rental prices, how best to manage a property, on the ground services and local tax requirements for the area. Then youll want to consider how youd like to position your property to prospective renters, as youre going to find having a quality short-term rental and good customer service can help keep your rental property occupied.
From hiring property managers to implementing automated systems, ensuring you run a smooth operation increases the odds of travelers sticking shiny five-star reviews on your listings. Your attention to detail and professionalism can be the difference between flipping the virtual vacancy light on or off. Here are some actionable tips for entering the market and launching a successful short-term rental business this year:
1.Be your own property manager.
2. Or hire a management company.
3. Look to the fine details.
4. Follow tax and licensing rules.
How Many Vacation Rentals Are There In The Us
According to the Vacation Rental Management Association, there are 23,000 reported vacation rental companies in the United States and over 115,000 vacation rental companies worldwide. Users of popular vacation rental platforms like Airbnb, Vrbo, and HomeAway continue to grow. Millennials are choosing to seek out the local experience in lieu of traditional hotels while traveling abroad. Ruby Escalona, a full-time accountant and part-time blogger, says, “We like to travel using Airbnb because we can choose a place to ourselves to live like a local for a few days.” Still others prefer having a touch of home while on the go, or sprawling out with friends in unique spaces.
Renting vacation homes is a lucrative industry. In fact, the estimated revenue from vacation rentals in the U.S. was $14.458 billion, according to Statista. The rates for Airbnb use are on average $80 per night. Elizabeth and her husband converted their part-time Airbnb side hustle into a full-time job. They now make $24,000 net annually with each full-time Airbnb rental. Here’s what Elizabeth from the Reluctant Landlord said. “I like Airbnb as a landlord because there is a third party involved other than myself.” It just goes to show that it’s never been a better time to create a vacation home in your backyard.
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S For Investing In Vacation Rentals
Before you even look at buying a vacation rental property, there are a few things you need to figure out. Thats because learning how to buy a vacation rental requires a special set of strategies.
Fortunately, its not as difficult to start investing in vacation rental properties as many would assume. In fact, I have broken down the entire process into five simple steps that anyone with a good work ethic and a mind for due diligence can grasp. Ringing true for almost any type of real estate investment, the very first step is doing your homework before you take any actions.
Is Owning A Vacation Rental A Good Investment
Before we dive into how you can make your vacation rental investment work in your favor, lets get all the doubts you might have out of the way first: If making a profitable revenue stream from short-term rentals is so dependent on your skills as a host and investor, is owning a vacation rental a good investment in the first place?
The answer to that question is a resounding yes.
You dont have to look that far to see just how popular platforms like Airbnb have become in recent years, and how much demand there is out there for travelers and staycationers looking for a more authentic, homey experience when visiting somewhere new.
On top of the increasing demand for more short-term accommodation, short-term rental properties make for a great investment due to the high earnings associated with owning and managing these properties.
Its estimated that Airbnb owners can make as much as $900 in profit per month, with average earnings doubling the more popular your chosen location is much more than what long-term rental landlords tend to make when you calculate all the repairs and tenant emergencies encountered along the way.
As the owner of a short-term rental, youll be able to avoid all the hassles of being a standard landlord while reaping all the benefits of owning a property.
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Our Guide To Vacation Rental Websites: Airbnb Vrbo And More
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While we love a good hotel, vacation rentals have a lot of appeal. For families with kids, vacation homes offer the much-needed space and privacy to spread out and get a little messy for groups of friends, they offer social, communal spaces and can cut down on costs and for curious travelers, they can give a more genuine, local feel in any given city or town. As far as rental booking services go, Airbnb dominatesbut its far from your only option. Depending on your specific needs, there may be a service better suited for your upcoming trip. Below, weve rounded up the best vacation rental websites to consider when you book that next vacationand a few of our favorite homes from each.
Stock With Food Storage Containers
Many guests will probably want to enjoy extensive day trips during their stay to explore the sights in your area. You can ensure that your rental supplies food storage containers for hiking enthusiasts to prepare and pack their own lunch for the day. Of course, food storage containers are notorious for getting lost so you could also just provide a roll of tin foil and cling film as an alternative option.
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Which Is The Best Vacation Rental Booking Site
Theres no one agency or platform that shines above others for families, but we can provide some conclusions based on our vacation rental site reviews and years of using these booking platforms.
- If youre looking for budget alternatives to conventional hotels, start with one of the giant booking platformsthats where youll find the bulk of the low-priced options. Go to a regional specialist platform if you want more options.
- For rentals in the U.S., do a local search in addition to checking the larger vacation rental booking platforms.
- Cast a wide net. Check with as many different sources as you have time and patience for. And keep in mind that many rentals will list with more than one booking platform, but a few stick to one or two. Prices are almost always the same.
- Avoid booking vacation rentals through Craigslist or eBay. Although both list vacation rentals, they provide almost no consumer protections.
Find Other Popular Vacation Rental Destinations In The Us & World
Vacation rentals are an increasingly popular alternative to traditional hotel stays. Why? Because they offer travelers the space, amenities, and privacy of home when on vacation along with incredible value! Forget anonymous hotel roomsfrom entire oceanfront houses with private beach access to city condos in luxury buildings, Tripadvisor Rentals offers you places with personality to make your trips unforgettable. Choose from thousands of different rentals across the globe: chic apartments for solo business trips, cozy cottages for romantic getaways or spacious villas for family vacations. For stays to suit your needs and individual travel style, theres nowhere better.
Book on Tripadvisor and youll benefit from the knowledge and know-how of the worlds largest travel community, with trusted reviews and knowledgeable owners helping you have your best trip yet. And with Tripadvisors unique Payment Protection, you can enjoy the peace of mind that comes with booking on the worlds largest travel site.
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Understand The Rhythm Of Vacation Rentals
Earlier, we touched on the ebbs and flows of demand, which deserves an even closer look. Vacation properties are much different than traditional rentals: the income generated is often dependent on the season. A house near the water will attract more interest in the summer. A house near a ski resort will thrive during the winter months. You need to know what you can expect during both the peak seasons and off months. You also need to have an idea of what the overall monthly expenses will be. You need to factor in that you will have to furnish the property and clean it every few weeks. The homeowners insurance may be increased, and there will be flood insurance if the house is near water. If you plan on buying the property, you will need at least a 25 percent down payment, and you can expect a higher interest rate.
Search Local Destinations For Beach Homes For Rent
Be sure to search for beach home vacation rentals in the places you know are closest to you and near the ocean. You might not think that anywhere in the region has enticing getaways by the waves, but there’s really such an array to pick from in the United States and beyond that there’s plenty of room for surprises.
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How To Handle Multiple Booking Requests
As part of your real estate business, if you list your home on many different vacation rental sites, there is a good chance you will start receiving multiple booking requests for the same property for the same dates. This can seem like a good problem to have, but if not handled carefully could result in double bookings. Here are a few things to take into consideration when choosing which booking to accept:
If you have your home listed on sites with varying booking fees, you may accept the booking from the site with the lower fees. However, the booking fee shouldnt be the only deciding factor. You should also consider the listing sites overall experience for yourself and the guest. Which websites make it easiest for guests to book and for you to accept payment? Which websites make it simple to communicate with guests?
Consider which listing site offers the highest protection for both you and the guest, and which sites implement screening and background check practices that help keep both parties safe.
Get Spaced Out At The Kennedy Space Center
Were all about exploration, but we always dream of going further. And is there anything further than outer space?! And while we are still working on finding our way outside the atmosphere, we can at least bask in the glory of those who have made it a reality.
Kennedy Space Center is a sprawling campus that is home to the most worlds most exciting projects from companies like Boeing, SpaceX, Virgin Galactic, and, lets not forget, NASA. You could easily spend more than a day wandering around the retired Space Shuttles and rockets, taking part in a simulated liftoff, and just learning about Americas incredible foray into space travel. Want to know what its like to visit Kennedy Space Center with kids? Check out our tips here.
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Grooming And Beauty Items
Apart from basic hygiene supplies, you can also stock the bathroom with some extras for vanity. For example, you could offer shower caps, disposable razors, shaving cream, makeup remover wipes , and face mask samples. Such small additions will make your guests feel like they booked a spa weekend and upgrade their holiday experience.
Get A Contract For Renting The Vacation Home
Before you make any agreements or payments, make sure you have a contract outlining specifics, such as:
- The arrival and departure dates.
- The method, timing and full amounts of all payments including additional fees such as deposits, pet fees and cleaning fees.
- What situations might cause the owner to withhold your deposit.
- The cancellation policy.
Dont skip the fine print and dont hesitate to ask the owner to change contract language you dont like. You may also want an attorney to review the contract prior to you signing.
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Day Trips From Your Kissimmee Vacation Home
Our Kissimmee vacation home was definitely a destination in of itself. For those looking to relax in a beautiful destination while enjoying the comforts of home, staying in a vacation home is a perfect choice. However, for those that also want to explore all the amazing things to do near Kissimmee, you can do that as well! Heres what we did on our weekend in Kissimmee.
Waterfront Homes In Chesapeake Bay
Birders, walkers, and beachcombers after something a little romantic are sure to find plenty to like about the waterfront homes of Chesapeake Bay. A taste of East Coast charm, they can be found opening onto wetlands and drifting rivers. Others nestle in characterful fishing towns where the clam chowder and seafood are simply to die for.
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Best Vacation Rental Markets 2021
The qualifications used to determine the best places to buy vacation rental property are, at the very least, subjective. If for nothing else, people choose to vacation in many different parts of the world for many different reasons. What one person may deem the perfect vacation rental, another may completely disregard. However, a few market factors can help investors take a more objective approach in determining the best vacation rental markets. This includes looking at statistics on property price, average rental income, occupancy rates, and cash on cash returns.
According to an analysis by Mashvisor, data released from Airbnb is also crucial in determining the potential success of a vacation rental marketas it remains one of the most popular platforms for short term rentals. All things considered, the following markets are predicted to be among the best vacation rental markets of 2021:
Berkeley, New Jersey
Airbnb Cash on Cash Return: 9.2%
Airbnb Daily Rate: $283
Average Price per Square Foot: $190
Average Days on Market: 61
Traditional Cash on Cash Return: 3.2%
Traditional Rental Income: $1,376
Price to Rent Ratio: 17
Metered Ev Charger For Vacation Rentals
Electric vehicles are the future and its becoming increasingly common for guests to bring or rent these cars while on vacation. By including an EV charging station at your property, youre not only leading the way for the future of vacation rentals, but youre also setting yourself up for the wow factor of your guests. Be one of the few VR owners to offer such an innovative amenity.
You can choose to either measure the cost of the kWh used or mark up your base rate to counter the expense of EV charging. Either way, it will be a huge perk for guests and might even be a tax-deductible expense for you!
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Turning Inquiries Into Sales
People who inquire about your property are called leads in the marketing world. Inquiries are critical to vacation rental revenue success.
Here are some tips for turning the highest number of inquiries into paying guests:
a. Respond to inquiries quickly. This is self-evident. If you take one week to respond, people will have likely found another property. Besides, they wont be impressed with your customer service.
b. Respond with a personal touch: Dont rely entirely on canned responses. Customize and personalize it. Review the profiles of inquirers. If a travelers profile mentions they love skiing, consider mentioning in your response that the local skiing is very good this year . You want to connect in a genuine and sincere way.
c. Be polite and professional: While responding with a personal touch helps, avoid being too long-winded. You need to give off a hint of professionalism and ALWAYS be polite.