Today we’re welcoming you from Anaheim, California from one of our outstanding vacation homes—a 7-bedroom property we call “Ritz Meets Disney.” Today we’re going to talk about short-term rentals, vacation homes, and how you can be a part of this exciting business opportunity.
It used to be that vacation homes were only for the rich and famous. We all grew up wishing that we could have a vacation home at the beach, or in the mountains where we could go for special family vacations. Well, thanks to the sharing economy and technology, vacation homes are now an opportunity for so many people all over the world.
There’s a new term that’s evolved: short-term rentals, or STRs.
What does that mean? An STR is a home that’s available year-round, where people come to visit for as short a term as three nights or maybe seven nights, or even 30 days or longer.You might be surprised to find out that if you have a current investment property, and you’re generating around $2,300 or $3,000 a month, we can show you how you could convert that to a short-term rental and generate $5,000 a month, or maybe more.
Let’s discuss some things you would want to know if you are considering a short-term rental as a real estate investment opportunity.
- Location. Is the city in which the home is located STR-friendly? They may allow short-term rentals now, but will they in the future? It’s important to know the city’s philosophy on STRs. Additionally, what features are located nearby? Parks, natural vacation spots, tourist attractions, and so on are features that would attract visitors.
- Budget. While price is important, there are other things that you should consider. Is it a short-term or long-term rental? What utilities, maintenance, housekeeping, and insurance will you need to keep the place in order?
- Maintenance. We can show you without a shadow of a doubt that a short-term rental is a much better investment from a maintenance standpoint, and that it is much more easily maintained than a long-term rental. Every time a guest comes and goes, your home is cleaned professionally from top to bottom. If anything needs to be fixed or repaired, it’s handled right away.
- Marketing. How will people find you? At Val’s Vacation Rentals, we do a great job of marketing our homes and presenting them to specific market segments and staging them. We get thousands of leads a month from people who are interested because of the size, location, market segment, or a particular event occurring in the area.
- Management.There are several ways you can manage property. You could do it yourself, but if you live far away, that’s not practical. You could also share the management responsibilities, hire someone just to do meet-and-greets, and make sure the guests have arrived and are checked in safely. Another option is to hire a full-service management company, like Val’s Vacation Homes. We can help you convert your existing rental property into a short-term rental, or find another property to stage and furnish it, then manage it completely. What could be easier than that?
If this world of short-term vacation rentals is of interest to you, give us a call. We’d be glad to do a free analysis of your current investment property, or to help you find another one to start from scratch. Our passion is helping people find an investment that’s best for their individual needs.