For those that have been here before welcome back. We are your hosts, BJ 'n Cindy. We own and operate this site as well as the sister sites. Tips for Military Families on Making Your Vacation Rental More Appealing, Safe, and Secure
Members of the military and their families move around… a lot. If you own your home, service transfers can be tricky to navigate as a homeowner. It may not be in your best financial interest to sell your home, especially if you’ve bought it recently, received down payment assistance that requires you to own the home for a certain period of time, or plan on returning to the area. Luckily, you have other options, like transforming your home into a vacation getaway.
Of course, turning your home into a successful vacation property requires a significant amount of planning and preparation. Namely, you‘ll want to make your home attractive to vacationers so that they choose your home over other vacation rentals, while also ensuring that the property is safe and secure.
Before You Begin
Now that you've made the exciting decision to start a vacation rental, it's important to make sure you've done your due diligence and set up a legal business entity. Most in the vacation rental business attest that the limited liability corporation (LLC) business structure is the best route to take. Your LLC can be used for property purchases, plus any debts would belong to the business alone. Do research into how to register an LLC in Washington state, and consider using a company to help you set up the LLC so you can worry about other necessary details.
Step 1: Finding Your Short-Term Renter
Vacationers have a wide array of criteria when they’re looking for a retreat. Some are looking for peaceful rest and relaxation. Others are looking for fun nights out on the town. Many are looking for adventure. Examine your property location and determine the target renters to whom your place will appeal.
Step 2: Preparing for Your Guests
Once your vacation home is on the market, the trick to making a steady stream of money through frequent rentals is to get the word out that, not only is your home beautiful and in a wonderful location, but the amenities put it over the top. Below is a list of some amenities renters look for:
- High speed Wi-Fi
- Washer and dryer (a routine installation will typically run between $350 and $600)
- Stocked soap, paper towels, toilet paper and tissue
- Spare toiletries in case your guest forgets their own
- Large, fluffy towels
- Robes
- Soft sheets
- A fully equipped kitchen
- A place to store valuables
- Water bottles
- A sweet treat
- A list of local eateries and activities
Beyond the amenities listed, you may want to take on some home improvement projects to spruce up your home for renters. For example, you could add marble countertops, remodel the bathroom, or refinish your wood floors. When hiring a professional to refinish your floors, be sure you fully understand the costs involved by asking the contractor how long the job will take, how many workers they’ll need for the job, and if moving furniture is included.
Put yourself in the hotel concierge role and try to foresee what your guests may need or want. They will not have a 24/7 hotel lobby desk to call, so your best bet to obtain high ratings and ensure you have return guests is to foresee anything they may need. When you invest in amenities, you will find a better return on your investment.
One way to up your ratings and reviews is to hire a management company with an on-site hospitality and support team. A property manager can also screen potential guests to reduce the risk of damage to your home.
Step 3: Securing Your Home
Conveniently, many of the steps you can take to secure your home are also considered amenities for renters. The keyless lock, for instance will allow you to change the code each time a new renter leaves, but it’s also an easy way to give a renter access to the home without encumbering them with the responsibility of a key. Security cameras on the outside of your home allow you to keep an eye on your property remotely, but also allow you to assure your guests that you are providing protection for them during the night and as they leave their belongings in the house when they go out and about. Indoor noise monitors allow you to ensure crazy parties aren’t happening and that the neighbors don’t get irritated, and your guests have peace of mind that they won’t be visited by the police during a celebration.
Step 4: Marketing Your Home
Most vacation rentals are rented out online or through an agency. It’s imperative to develop a wonderful virtual presence that markets your property and the general location. Once you have furnished, decorated and equipped your property, it’s time to get professional photos taken to highlight your home. Spend some time developing a property description that not only captures the atmosphere of your home but entices your guests with details of what you offer. The time and money put into marketing can result in a significant return.
A vacation home rental can be both fun and profitable. The investment put into a vacation home in a prime location with the right amenities can tender a financial boon. If you put the work in by creating a safe and inviting atmosphere that welcomes guests and market your home to the best of your ability, you will not regret the time and energy you put into it.
For more resources specifically for military families, please take a look at the other posts we’ve curated especially for active service members and veterans.
SUBMITTED BY
by Cherie Mclaughlin