Transforming your house into a vacation home with some renovations and upgrades is a great way to bring in some extra money. This is something that can easily be done with imagination and the right team of professionals to help you with the project. You will need to be prepared to become a landlord and you will have to set some guidelines in place. You should consider these things before you decide to make this kind of change to your home. Think about the things involved with managing property – ongoing maintenance of the home, the facilities, and property, ensuring your tenants and rental tenants are following the rules of the community, and following the guidelines of the government and your HOA. A house is not a hotel, and getting your home set up will take a bit of work:
1. Cleaning and Maintenance:
You will need to make sure the rooms are all neat and tidy. Your house should meet the quality standards of a hotel even though it is a vacation home. It would be wise to employ the services of a cleaning company that can do the job on a weekly basis after each rental tenant leaves and before the next arrives. You can charge guests for the cleaning fee so this is not something you have to pay for out of pocket. The professional cleaning company will ensure each corner and surface of the house is in order.
In between rentals, you should take the time to visit the property and check if anything needs to be repaired or updated. This can be as simple as replacing towels in the bathroom, or as big of a project as having the roof replaced. If your home is near the beach you are likely to see a bit of deterioration to the exterior of your home due to the weather elements. It would be wise to have your siding, roof, and other exterior elements inspected the quality of exterior services before you rent your property. This investment will be easily paid off through the rental of your home and will save you the headache of having to block out weeks for rentals once you begin renting the home out.
2. Complying to Government and Neighborhood Rules:
Using a house for business purposes has a lot of government rules and taxes involved with it. Before renting out the property, present the proposed plan to local government and neighborhood. There is no way to get around this. If you attempt to skip this process you could be punished later down the road and potentially lose the ability to rent your property. Check with the neighborhood HOA for a list of community rules and regulations and inform your rental tenants of these rules and the implications that can occur if they refuse to follow them.
3. Set up utilities for vacation rental:
Guests are coming to your house looking for comfort and relaxation on their vacation. It is your job to provide them with what they need to achieve that. You should provide quality beds, kitchen facilities, necessary household items, appliances, etc. You can charge your rental tenants more to stay at your home if you have extra amenities such as a pool, an entertainment center, internet, a swimming pool/hot tub, etc. You should also provide items such as hand soap, dish washer detergent, cleaning supplies, and other things. Guests should not be expected to bring their own.
4. Advertising, promotion and reservation:
To be successful in vacation home rental, you will need to advertise and promote your property. Consider using a rental agency to help fill your home during the rental periods.