You have a good property in a great spot, and you’re thinking about renting it. Everyone has told you to do so. And you can see that the idea isn’t that bad. But you’ve never done a thing like this before.
You don’t even know where to start.
How much money do you need? How do you even determine how much to charge? What kind of software do you need? Do you need any at all? These are all complicated questions for a first-time vacation rental owner.
Luckily, we’re here to help. Check out these tips for booking a vacation rental during the holidays.
1. Determine Short-Term Rental Value
The first step is to find out how much your property is worth as a vacation rental. To do this, you’ll need to research comparable properties in the area.
Once you’ve found some, look at their nightly rates and the average length of stay. You can also use sites like Airbnb to get an idea of how much your property could be worth.
2. Use Short-Term Rental Software
While you don’t need software to manage your property, it can make your life a lot easier. You can automate tasks like booking, payments, and communication with guests using the software.
What kind of software should you use? Well, short-term rental software such as Uplisting will allow you to screen, book, and message your guests all in one place.
The platform can increase your direct bookings by up to 155%, so make sure to give it a go.
3. Create Your Rental Policies
The next step is to create your rental policies. That includes your check-in and check-out times, house rules, and cancellation policy.
You’ll also need to decide what’s included in the rental price – for instance, linens, towels, and things like that – and what’s not – for example, cleaning fees and security deposit.
Have you decided on a minimum stay? Keep all these things in mind when creating your rental policies.
4. Get the Right Insurance for Your Property
Another important step is to get the right insurance for your property. That is especially important if you’re renting out your primary residence.
How do you find property insurance anyway? You can contact your current homeowners’ insurance company and ask if they offer any coverage for vacation rentals.
If not, you can specifically search for a policy that covers short-term rentals.
5. Find a Cleaning Crew
You’ll also need to find a cleaning crew to clean your property before and after each guest’s stay. The best way to find a cleaning crew is to ask around – for instance, your friends, family, and neighbors.
If you can’t find anyone that way, you can always post a job ad on Craigslist or Indeed.
6. Hire Yourself a Property Manager
Last but not least, you should hire yourself a property manager. A property manager will take care of all the day-to-day tasks, like scheduling cleanings, handling guest inquiries, etc.
They’ll also be there to deal with any problems, like a broken dishwasher or a leaky faucet. So while you don’t need a property manager, they can take a lot of the stress off your shoulders.
And that’s especially important during the busy holiday season.
Closing Thoughts
So there you have it – six tips for booking a vacation rental during the holidays. Remember to do your research, create a solid plan, and find the right team to help you out.
With that, you’ll have a successful holiday rental season.
