Make Your Vacation Home Pay Off
Renting your vacation house when you're not using it makes good financial sense. These tips can help
Houzz Contributor. You can also find me on Lolalina (http://www.lolalina.com/), my blog devoted to all of the things that make a house a home - decorating from the heart, living with intention, and savoring life's simple pleasures.
Houzz Contributor. You can also find me on Lolalina (http://www.lolalina.com/),... More »
The dream of a vacation home is something many of us hope for, but owning a second home that remains vacant most of the year doesn't make much sense. If you want to be able to make the most of your investment (and still fully enjoy your time there), it is worth looking into renting your vacation home to others throughout the year.
In some markets, you may even be able to cover the mortgage payments with income from renting the home. These tips will help you make your vacation home as appealing as possible for renters, and help you stay cool and collected during the process.
In some markets, you may even be able to cover the mortgage payments with income from renting the home. These tips will help you make your vacation home as appealing as possible for renters, and help you stay cool and collected during the process.
| |
| The process begins before you even make a purchase. Here are a few things to consider early on that can make or break your vacation rental income.
|
Ready to get to work? Start with the front porch. Curb appeal is not just for selling homes. Imagine your potential renters scrolling quickly through pages and pages of vacation house listings — often with only a thumbnail photo of the front of the house to lure them in.
Make sure that front-page photo is a winner. Refinish the floors, scrub the siding, fix the lights and style the porch or yard with cute furniture and summery props. Do whatever you need to do to make the front of your home look as charming as the inside.
Make sure that front-page photo is a winner. Refinish the floors, scrub the siding, fix the lights and style the porch or yard with cute furniture and summery props. Do whatever you need to do to make the front of your home look as charming as the inside.
| |
| Make your main living space friendly to big groups. Vacationers (and this probably goes for you, too) are there to relax, but also to spend time with their family and friends. Make your main space as welcoming as possible for big groups. A large dining table (or one with removable leaf extensions) and an open floor plan are both great selling points. Keep decorative items to a minimum, especially on surfaces where guests will want to be able to store their own belongings. |
by Nicole Lanteri
»
Keep a home inventory and a reference book. A thorough and well-organized vacation home reference binder is worth its weight in gold! Avoid mishaps by clearly recording all inventory in a master list, and provide visitors with ample instructions on everything from garbage pickup and how to work the remote control to emergency numbers and a map to the nearest grocery store. If guests are welcome to use up the contents of your pantry, bar and fridge, make that clear. Likewise, anything that is off-limits should be spelled out.
| |
| Maximize sleeping quarters. Many vacationers will be looking for the most possible number of beds to accommodate their group. If you have multiple bedrooms, put two beds (or bunks) in at least one of them. Even if you have a small one-bedroom cottage, you can have a sofabed or an air mattress. |
Pay extra attention to the master bedroom. Solid furniture, a pretty paint color, fresh bed linens and perhaps somewhere to read or write postcards are all welcome touches.
| |
| Update outdoor dining and hang-out zones. If you have been putting off decorating the outdoor spaces, now is the time to quit procrastinating and take action. It certainly doesn't need to be fancy, but having an outdoor dining and seating area in a vacation home is a must. |
| |
| Make it easy for guests to keep things neat. A well-ordered home will save many headaches down the road. Consider using a label maker to print stickers for cupboards and shelves, or use a Julia Child–inspired pegboard with silhouettes painted on to organize your pots and pans. |
Keep a basic but well-stocked kitchen. Don't break the bank when it comes to stocking fragile items in a rental, but do attempt to keep a simple set of white dishes in stock, along with the essentials for cooking and baking tasks.
If you stick to white you will know you can always add matching replacements, even if you can't find the exact same ones again.
If you stick to white you will know you can always add matching replacements, even if you can't find the exact same ones again.
by Design House
»
White linens radiate cleanliness. Dark colors hide stains better, but that may be why guests prefer white. Anyway, solid white sheets and towels are easier to keep clean than prints or darker colors, because you can bleach them.
Store your personal items in a locked cupboard or closet. Just because you are afraid guests will break your grandmother's wineglasses or even take something does not mean you need to go without. Just keep personal, fragile and valuable items in a locked closet. Have lots to store? You can always lock up the garage or a small spare room.
Decide whether to include tech amenities. Many people will be thrilled if you offer a free Wi-Fi connection and cable TV during their stay. Of course that does not mean you must offer it. Consider how much you will be using the home, and if these are things you would want to pay for anyway, you might as well offer them to guests, too.
by ReStyle Group
»
Be a good host, even though you are not there. It is a nice gesture to provide visitors with a few fun perks to give them a more personalized visit.
Items to consider: board games, puzzles, extra beach towels, boogie boards, beach cruisers, sand toys, baby gear and sports equipment.
Items to consider: board games, puzzles, extra beach towels, boogie boards, beach cruisers, sand toys, baby gear and sports equipment.
by Urrutia Design
»
Consider investing in popular outdoor features. Been thinking of adding an outdoor shower, a fire pit, a hot tub or a barbecue? Now you have a great excuse to go for it ... because the guests will love it, too.
Prepare for parties. Even well-meaning guests can sometimes break things or turn the music up too loud for the neighbors. You can't control everything that happens, but you can do your best to prepare your home.
Providing a full set of unbreakable glassware and dishes is a great start. Also, be sure to provide ample outdoor seating, so guests are not tempted to drag the indoor furniture outside.
Working with a management company can also make your life a lot easier. They will deal with immediate problems so you don't have to.
Providing a full set of unbreakable glassware and dishes is a great start. Also, be sure to provide ample outdoor seating, so guests are not tempted to drag the indoor furniture outside.
Working with a management company can also make your life a lot easier. They will deal with immediate problems so you don't have to.
|
by Stonewood, LLC
»
|
| Consider having professional photos taken. Since most visitors will be booking your vacation home without seeing it in person, having really superb photos is essential. Enlist the help of a friend with top-notch photography skills or hire a pro. When it comes time for the photo shoot, make sure the house is clean and uncluttered from top to bottom (put all personal items away), inside and out. You may also want to take a few pictures of nearby draws, such as a beach within walking distance of the house or a favorite biking trail. More: How to Take Photos of Your House |
Ideabook updated on Aug. 11, 2012.
What are you working on?
News From Our Partners
Latest Ideabooks
People found the photos in this ideabook after searching for:
View over a million photos:





























In terms of safety put a photo magnet on the refrigerator with the telephone numbers of the local fire and police departments as well as the physical address of the rental property. You would be surprised at how many renters do not know this.
Leave a fire extinguisher near the stove.
Also, consider leaving "rewards" cards for the local pharmacy and supermarket.
I have been very fortunate with renters in part by using a good rental agency. This is money well spent!
1. professional photos really help sell your home. If the photos are bad, people will pass your place by in favor of one that looks good.
2. an owners closet is a very good idea....that way you can store the things that are most important to you or things that are breakable etc.
3. A management company...if something is not right, they will handle it. It is not easy to be 3,000 away from your second home and have a problem to deal with.
4. Good help. In Mexico, we have a maid and a cook who are in our home every day. They take great care and keep everything in top shape. They will also report any problems that may come up. This is not the norm in most rental homes in the U.S. or Europe, but in Mexico, it is expected and the renters love it. They get a real vacation that includes not cleaning up the kitchen!!
5. CALL YOUR RENTERS AFTER THE FIRST DAY TO WELCOME THEM TO YOUR HOME AND ASK IF THEY HAVE ANY QUESTIONS OR CONCERNS. There is nothing like knowing that your home is in the hands of very happy renters!
6. The house book as mentioned above is also very important....no one want to spend hours of their "vacation" trying to figure out how to turn on or use something in the home. Include emergency numbers, management phone number, how to flip a breaker if the light turn off, good places to eat, see, as well as things to do....you name it, anything that may be helpful to your guests should be in this book.
7. White sheets and towels are great, I also do white slipcovers and have three sets so that the maids can change them between renters. (I keep my own personal sheets and towels in our owners closet) We have good mattress covers on all the beds with back up sets so these all get changed between guests.
8. Especially in a warm, outdoor climate like Mexico, the patio and terrace furniture should be as comfortable as the pieces inside the home. I have used black Sunbrella fabric for all cushions and pillows in the outdoor areas and they can be washed and they do not show stains.
9. Be prepared, "stuff" happens.....Most renters are careful and considerate, but you need to be able to deal with the occasional problem. We take a $1,000 refundable deposit for every renter.
10. Remember, once you start renting your home, you are in the hospitality business. In our case, we pay not only U.S. taxes on our income, we pay Mexican taxes. So this means records need to be kept, so my advice to anyone thinking of renting out their home is to think about what is involved. My goal is to have all of our renters enjoy our home as much as we do.
I hope I have added some good information to what is a fantastic post by Laura Gaskill Thanks, Carole Meyer
- If you've owned the place for a long time, regularly clean out the drawers and closets, which tend to accumulate junk. Get rid of the ancient electronic equipment, the puzzle with missing pieces and the expired Tylenol.
- Equip the kitchen with decent quality cooking and eating utensils, including serving bowls and platters. Warped pots and pans, grandma's tupperware bowl and a puny collandar don't cut it.
- Invest in decent box springs and mattresses. If it's ten years old, it's time for new beds. And pick up some new bedding while you're at it.
- BUY A REAL WINE CORKSCREW THAT CAN ACTUALLY HANDLE A WINE CORK, AND SOME REAL WINE GLASSES for cryin out loud.
- If the sofa and chairs were in your parents rec room before they upgraded in 1986, take them (the furniture, that is) to the dump and replace them with something COMFORTABLE.
- Wi-fi. I'm just sayin.
- Leave room in the refrigerator, closets and cupboards for your renters stuff.
One last tip . . . Craigslist, TJ Maxx, Tuesday Morning, Ross . . . use them and I'll likely be a repeat customer.
Also, I have enjoyed all the info here for owners and renters. It is a tough row to hoe being the owner at times! I take all negative action by guests very personally as I try to maintain the cabin just as my home and where I like to stay when there. I have decorated it and included items that other cabins do not go to the trouble to offer and I REALLY want my guests to feel at home and comfortable! I supply very good mattresses, boxsprings, matress pads, blankets and pillows. All of those items have back up for changes between guests and there is a washer and dryer there if anyone needs to launder anything while in the house. The kitchen is very well stocked with all the things I can think of being in a kitchen! The management company that I now have is wonderful in seeing that all guests are accomodated with "reasonable" requests. I have placed video games, board games, toddler toys, cards and videos for both children and families. There is so much to do there, that I can hardly imagine that most guests really do stay inside that much but in the winter time, I think those guest like to stay in the cozy cabin with the fireplace going and spending quailty family time. My management company also sees that the outdoor grill is kept clean and reading about the dirty gas grills is one reason, I have stayed away from gas grills. I have seen this in cabins that have them and I have heard the complaints about the gas canisters. It is better to just avoid a gas grill if at all possible. This is my Nestled Inn!
It's difficult when the renter wants your $$ but isn't willing to make the place comparable to at least a motel experience. We plan to go to another VRBO this week and the owners have been polar opposite of our other experiences - so thrilled we are going there to share their home, they are cooks and promised a stocked kitchen and working BBQ -- please be patient with us renters, like you get bad experiences with renters, we get bad experiences with vacation rentals and we now take photos upon entering, contact them immediately to inform them if anything is awry and don't tolerate anything less than clean for the $$ we pay. In return? I always remove my sheets, do a once over to make sure it's tidy before we leave, I tip the cleaner, I provide an excellent review. In fact, on some occasions, we've made friends!
We always try to give renters the quality we would expect. At the same time, we remind them this is someone's home-- a few pictures of our family scattered around, a personal note and small gift on their arrival, a phone call within 24 hours help keep it personal. I think rental properties devoid of personal connection invite lack of care. At the same time, a place full of the owners' things just doesn't fly. Renters want ease and comfort.
I wholeheartedly agree with those who have mentioned the necessity of items like a clean grill and full gas tank, decent wineglasses and opener, extra sets of linens and throw rugs. I'd add decent silverware, items specific to the area (like a lobster pot, if you're near the ocean) and access to plugs/power strip in each room for charging phones. Also, providing a house book (both before they arrive and a copy in the house) gives renters a sense that that the owners care about them and the property.
Finally, the moments when we have doubted the worth of renting usually come when renters have not communicated with us about something damaged or missing. We work hard to try to be as open as possible so that renters feel comfortable telling us. Posted on the fridge for each renter is a one page "House Rules & Requests" and a quick "Before You Leave..." checklist, which each renter signs. This helps.
The financial rewards are great, if you make sure to preserve your privacy and space. Owner's closets for personal linens and other items really help with this, as does reserved vacation time for you. That means no working on the house or completing projects while you are there. It is a MUST that you take time to enjoy your home as a vacationer too.
This is a great and very informative article! I agree that proffesional photographers are essential to stand out from your competitors, especially if you are listing on portal websites. The photos need to bring out the vacation feeling for users, and the right lighting and furniture arrangement can do exactly that!
Francesca
http://kigo.net