Posted on: 5 August 2019
Vacation homes can be an expensive investment for families who can only use them a few weeks each year. When the home still incurs all the monthly expenses of a full-time residence, it can be difficult to maintain it. Maintenance, upkeep, and utilities still must be paid as well, as well as annual costs such as property taxes, insurance, and HOA dues.
If the second home is located in an area where tourism creates a consistent market for vacation rentals, such as a beach house, this type of property has good potential to create a profitable income stream. If you own a beach house as a vacation home or plan to buy one soon, these tips can help you enjoy a more profitable experience.
Make sure the property is updated for high-end rental potential
When tourists go to the beach for a vacation, most are looking for a luxurious experience. Modern kitchens and bathrooms, along with large windows to capture the beach feel and breezes from the ocean will be far more in demand by high-end tenants than homes that are outdated, dark, and drab. In addition, it is important to make sure that your home offers basic needs that every tourist wants to find, such as convenient parking, and private areas to relax outdoors.
Market the property realistically
Most vacation home rentals are done in advance, while the prospective tenant is often hundreds or thousands of miles away at the time. Because of this, it is extremely important that vacation homeowners market their rental as realistically as possible so that their guests will instantly recognize and be satisfied with the property upon their arrival.
For a beach house, this means using the correct terms to advertise the home's location in regards to the beach or water. Using terms like beachfront or waterfront for a home that is a tier of homes or more away from the water misleads tenants and will ensure damaging reviews.
Manage the rental professionally
Unless the owner lives locally, it is important to make sure the beach home is managed professionally by a reputable real estate brokerage or property management service. In addition to being able to provide frequent inspections of the home, this type of professional management option can handle all inquiries and bookings for the property, as well as schedule cleaning, maintenance, and repair services as needed. Many property management services can also provide accounting services to further simplify ownership duties for the homeowner.
Contact a company that can help with beach house rentals in order to learn more.Share