Summer is a prime time for vacations and these days, more and more travelers prefer rental homes instead of hotels. Why? Well, that’s because staying in vacation rentals is more cost-effective if you’re traveling on a budget.
If you are looking for ways to earn extra cash this summer, you might want to take advantage of the demand by renting out your second home, a spare room in your property or your own house if you’re traveling somewhere yourself. But it does come with a lot of considerations. Let’s talk about them one by one.
Your location.
If you want people to rent your property for the holiday, you have to make sure that it has something special to offer. A property in an area near the beach, resorts and other tourist destinations will give you a high chance of getting your listing rented out, as well as the facilities, furnishings and overall appearance of the property.
Your financial responsibilities.
When listing your property on rental marketplaces, you need to pay certain fees per booking. You might also have to pay for a housekeeper to prepare the space and clean up after the guests leave. And let’s not forget the taxes. So after deducting all the expenses, ask yourself how much you can really make and if it’s worth it.
The legalities.
Each country, state or city has different rules and specific requirements when it comes to leasing properties. Check with your zoning department and association board before you list your property for rent.
The advertising.
To get people to know about your property, you need to do some advertising on rental websites such as Airbnb, HomeAway and Flipkey.
Every website has their own set of rules, protection, services offered and charges so make sure to check them one by one to get the best offer.
So yeah, renting out your home isn’t that quick and easy. You have to do your homework beforehand before you decide if this venture is for you.
