Revenge travel was, for a brief time, just a post-pandemic fluke. But then it dragged on for another year. In 2023, a third of American households took their summer vacation.
It's safe to say that revenge travel is here to stay. Many property owners, such as yourself, are realizing now is the best time to rent out your house for vacationers. If that's the path you wish to take, how do you go about doing it?
Today, we discuss making a vacation rental in California.
Check Local Regulations
Once you've taken into consideration management responsibilities and the local real estate market, it's time to check regulations. While you may own your properties, you may not be able to legally rent them out as short-term vacation rentals. Check with everyone: your HOA, your city, and your state.
It's very common, for example, for an HOA to forbid vacation rentals. If they do allow them, they may have stringent rules about vacation rental management. Failure to comply could lead to hefty fines.
If nothing is stopping your rental, then you may at least be required to report it to authorities. Having an under-the-table, illegal vacation rental could get you in big trouble whatever the case.
Set the Rent
The next big question is how much rental income you hope to make. This may turn out to be the most difficult challenge of them all. It takes market analysis, careful planning, and strategizing to master rental pricing.
Even in Harbor Beach or Orange, there will be a wide disparity in rental pricing. Take a look at local rentals, determine how much yours is worth, and price accordingly.
Set Vacation Property Rules
Everyone has heard the nightmare stories of guests trashing their Airbnbs. Part of this is a vetting issue, but another part is a failure to set rules and enforce consequences.
Be very particular about what guests can and cannot do on your property. Put the biggest prohibitions front and center so they can't miss them. You may even remind them prior to their arrival.
Make the consequences for failure to obey the rules fit the "crime." If they leave the place a wreck, tell them what the cleaning and maintenance fee will be. Clear communication avoids angry misunderstandings later on if they feel they've been falsely charged.
Hire a Property Manager
Managing a long-term rental is already quite a chore. Now imagine having to manage a new set of tenants every week, or multiple times per week.
Make it easier on yourself by hiring vacation rental management. Property management will vet your guests, communicate with them, and help them with what they need. It lets you kick back with the peace of mind that your rental is in good order.
Rent Out Your House in Orange
If you plan to rent out your house as a vacation rental, make sure to check if you can legally do so. Set a reasonable rental price and ground rules. Hiring a property manager will help you keep things under control.
PMI Harbor Beach does everything you need and more: marketing, hiring housekeepers, you name it. We ensure every guest is 100% satisfied and thus turn them into repeat customers. Get started with a free consultation here.
