Converting a home into a vacation rental is very popular. Many residents all over Florida stay for a good portion of the winter, but use the summer for traveling or living further north. If you own a home in a destination city and you want to turn it into a vacation rental, you need a few tips to help. Here are some of the main things to keep in mind.
Helpful Tips for Vacation Rental Conversion
1. Furnishing the Home
A furnished vacation rental in a tourist area, such as Orlando Florida, will draw a larger crowd and allow you to charge more for the rental period. Assuming you will spend time in the home for part of the year, you may want to consider keeping some of your more expensive furniture in local storage during the time you're not there. This will keep you from the disappointment of finding out one of your renters broke a family antique or something else special to you.
2. Hiring a Maid Service
A trusted maid service can help you manage the property without much effort. You can hire a local maid service not only to clean the home in between renters, but also to report back to you if anything was broken. Most of the time you don't even need to ask them to let you know of any broken items. They will tell you before they clean because they don't want to be held responsible for what's happened.
3. Create Instructions for Renters
Providing your guests with instructions about how to use certain electronic components, where trash belongs, where to find certain things and any rules of the neighborhood can help eliminate any issues. It's important to make these instructions as clear as possible, so they can enjoy their stay and you don't have to spend time worrying.
4. Review the Rental Laws
Before renting your home, you need to understand the landlord, tenant laws for the area. These laws vary from state to state and understanding what's expected from you and from your guests will help you if an unforeseen issue arises.
These are just a few of the many things to consider. You may also want to create a check-in and checkout procedure, decide on how to collect payment and figure out how to get the keys to the renter. Make sure you address everything you possibly can and treat your rental property as a business. This will help you handle all the necessary tasks so both you and your guest can enjoy the property.