Fort Lauderdale experienced a significant uptick in tourism at the start of 2023.
For homeowners in Fort Lauderdale, this signals a fantastic opportunity to rent out your house to visitors for extra cash. If you're unsure how to do this, we've got the perfect post for you to read.
Today, we'll give you the ultimate guide for renting out your home or property investment as a vacation property. Once you learn the ropes, your vacation rental will earn you money hand-over-foot.
First, you need to understand how to set up and find renters, so keep reading and turn your home into a money-maker.
Home Updates
Before you start marketing your rental property, you should take a good look at your home and figure out how to make it better for renters.
One important thing is to depersonalize the home by removing family photos and putting away treasured belongings. Vacationers don't want to feel like they're in someone else's home.
The other thing is to think about local laws around vacation rentals. You may need to rezone your home for commercial use and purchase extra insurance to cover the wear and tear that the house might go through.
Marketing Your Rental
Once you're ready to welcome your first guests, the next step is marketing your rental. When starting, you need to emphasize marketing to stand out from the competition.
First, create your rental listing by taking plenty of professional-quality real estate photos and writing a detailed description of the property, the local area, and its amenities. The more descriptive you are, the more attractive your property will be to renters.
With an excellent listing completed, list your property on the vacation rental platforms of your choosing. You may need to think about things like SEO and paid ads to get more eyes on the listing.
Offering Competitive Pricing
Always price your rental on a sliding scale. Offering competitive pricing is important when you're starting out, as you'll be competing with dozens of more established vacation rentals.
For sliding-scale pricing, lower your rates during Fort Lauderdale's slower months, then raise them when it gets busy.
Guest Management
Securing your first guests is just the start of your work as a vacation rental owner. Once the guests are in your unit, the bulk of your job is making sure they have a great experience.
Often, this comes down to supplying the home with amenities and things that guests might want. The best thing to do is to make sure your guests know you're available to answer questions or concerns without getting in their way.
When happy guests check out, always ask them to leave you a review. Good reviews help you secure future guests without investing in more marketing.
Rent Out Your House With a Property Manager
As you rent out your house to more guests, you'll be busier and busier. It can get overwhelming fast, so it's a good idea to hire a property manager to help.
PMI Premium Services is Fort Lauderdale's top vacation rental management company with services that cover everything discussed here. Contact us today to learn how we can help you run your vacation rental.
