How Marketable Is Your Rental Property?

The vacation rental industry has turned into an enormous billion dollar market that has taken shape and has been evolving world wide over the past few decades. Online services have followed, assisting vacation rental property owners to now effectively market their vacation rental property online.

In addition to online services that simply allow you to list your property on their Website for people to inquire about, entirely new companies have emerged focused around the vacation rental industry.

Here are 3 ways to determine if your property is a suitable Vacation Rental – While there are many vacation rentals on the market today, it certainly helps if your property has unique features.

1. It is important to determine whether or not your property is marketable and desirable.

You should ask yourself the following questions: Is my property up-to-date enough and have the amenities that many travelers are looking for such as high-speed internet, jacuzzi tubs, etc. Is my property in a frequented geographic area? Is my property’s location desirable (i.e. on the water, great views, or close to landmarks such as theme parks.

2. Prepare a Description of the Property, Amenities, nearby Activities and Bedroom/Room Layout

It’s very critical to provide potential guests with accurate information regarding your property. You’ll use this information in marketing your property on various Websites throughout the Internet. You’ll need to put together a descriptive paragraph or two regarding the property, a list of the amenities & activities, and room/bed layout.

3. Create a System for Providing a Key or Entry Instructions to Guests

If you are going to rent your property as a vacation rental, you will need to somehow provide a key to your guests. Most property owners generally tend to setup a lockbox on their property.

You can use property agents to provide the key or simply meet the guests at the property themselves to walk through the property and provide entry instructions, keys, and other property details.

Vacation rental owners are still renting out their rentals. There is an element of satisfaction in preparing your own property for rental, marketing it, then seeing the fruits of your labor when the rentals actually come pouring in. While this is not for everyone, people with time on their hands generally like to take the reigns when it comes to renting out their own properties.