Your Guide to Setting Up a New Vacation Rental or Investment Property

Owning a vacation home can be the greatest investment you’ll ever make. Suddenly, you have a home that not only nets you extra income, but also provides with you a place to stay whenever you need a getaway! Sounds like a win-win, but if you’re not sure how to buy one or how to decorate the one you already own, follow this handy guide to simplify the process. In no time, you’ll be popping Champagne on the outdoor porch of your stunning beach house.

Find the Perfect Location

Once you’ve decided you want to buy a vacation home, be sure to scout out the area. Talk to locals to really get a feel for the neighborhood. Do vacationers visit the place even during the off-season? Is the home located nearby shopping centers and other attractions that would attract renters? It’s really important to do this background research if you’re unfamiliar with the location and don’t plan on spending all of your time there.

Know the Rules

Before you rent out your vacation home, ensure that you know the community’s rules for renters. For instance, some places won’t let you rent out your home for a week and only permits monthly rentals. Be sure to familiarize yourself with the tax laws of that area as well.

Keep it Current

Let’s face it: no renter wants to feel like they’ve just stepped into Don Draper’s swinging 1960s vacation home. Ditch your beat-up furniture and replace it with modern, neutral pieces to keep everything fresh. If you need furniture for temporary purposes, a good idea would be to check out a furniture rental company. Be sure to paint the walls with a fresh coat before the start of every summer to keep things looking new. A fresh coat can go a long way in making guests feel right at home.

Send it Professional Cleaners

Having a professional cleaning service tidy up your home from top to bottom before renters arrive is a great idea. After all, no one wants to feel like the first thing they have to do when they’re on vacation is clean. Also know that it’s not unreasonable to ask guests to clean up after themselves. Asking guests to sweep floors or wipe down counters is customary and will help ease the transition between guests.

Offer Digital Amenities

Consider providing free WiFi and cable at your vacation home. After all, most hotels offer those services, and many vacationers will use the Internet and TV as a way to relax. It’s a minimal cost that will make your property stand out among other offerings.

Make it Homey

Even if you only spend a week at your vacation property every year, renters will want to feel comfortable when they arrive. The space should look lived in, and small changes can go a long way. Hang up artwork. Provide vases so your guests can fill them with fresh flowers. If you’ve got a beach home, try filling a classic Ball jar with sea shells or rocks and using it to decorate. Lastly, be sure to provide your guests with books, magazines and local guidebooks.

Whether you’re going to be the main occupant or will only be visiting every now and again, by following these tips you’re sure to maximize your vacation rental’s value and providing a wonderful source of relaxation for you and your guests.

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