Sites like Airbnb and HomeAway have made it easy to turn your home into a vacation rental. Using your home as a vacation rental will allow you to maximize your investment in the property and bring in an additional source of income. The following information will help turn your property from a family home to a vacation rental!

Research

Before even deciding to list your property, it is crucial to research the types of properties, location, and prices to gauge how to market your property accurately. Whether you’re looking for a long term vacation renter, or a weekly renter, completing research will allow you to get the most value out of your property. If you are closer to a body of water or a resort, you will be able to charge more based on the way you market your property.

Property Management

Depending on your location and the location of your property, it might benefit you to hire a property manager. This step is necessary if you are going to be more than a few hours away at all times while someone is renting your home. Many vacation homeowners use a property manager to check in on the property when they can’t. If your property is in the United States, some states require a licensed real estate company or an on-site manager for vacation properties.

Advertise Your Property

To find guests, your rental property will need to be advertised through photos and listings on vacation rental sites. Your ad should highlight the main features of your property, its location, and anything that is going to set your property apart from other listings in the area. 

Property Enhancements 

The following are just some of the things you can purchase to make sure your property is ready for its first vacation renters.

Home Monitoring Systems
Smart home technology like Nest Home Monitoring will allow you to stay in the loop while vacationers are staying in your home. In-home monitoring systems will enable you to tailor the device to your needs. You can install security cameras, upgrade smoke alarms, and access the thermostat remotely. 

Combination Deadbolt
Putting a combination deadbolt the front door to your property eliminates the need for keys. The passcodes on the locks can be changed between vacationers and are safer and easier than making copies of keys to give to strangers. 

Insurance
While sites like Airbnb cover damages, you should also invest in your rental insurance in case something isn’t covered. Sometimes your home will need additional coverage if it is being rented out, and speaking to your insurance company can clear up any questions you may have about what type of supplemental coverage you may need for your property.