Seasonal property rentals seem like a no-brainer as an investment. After all, there are always travelers looking to book the best (whether that means budget or luxury) places come vacation time.
But is it really that easy?
Yes and no. Of course, it’s easier if your properties are in an ideal location. But beyond location, you also have to consider other factors, especially if you’re looking to rent your houses based on seasonal occupancy.
Don’t worry, though. Here we’ll show you how to find the best tenants for your vacation homes.
Anticipate Your Tenants’ Needs
Treat your property rentals like a storefront and your tenants like VIPs. This also means thinking like a successful business owner instead of a landlord.
A savvy business owner is always finding ways to meet or exceed his or her customers’ wants and needs. This usually involves product or service improvement to banish complaints or simply keep customers happy.
You can use this mindset to attract new tenants to your property rentals. Think of the ways you can make their stay memorable. Extras like free bottled water will score you some points and boost your referrals.
Don’t Tune out Negative Feedback
If you’ve had previous tenants who weren’t too happy with one (or all) of your homes, don’t just ignore them and think that they’re the problem. Try to be objective and see if there really are areas that need to be fixed.
If you’re too far away to solve the problems, make arrangements to have service providers (e.g. plumbers, electricians, etc.) do the necessary repairs. You can ask your real estate agent or local residents for recommendations.
You might also want to consider hiring a manager, especially for short-term rentals. Just take note that if you’re renting out on a weekly basis, it could mean more repairs. Consider doing preventive maintenance on all of your property rentals to keep them in tip-top shape.
Keep Yourself Updated on Market Trends
Want to stay on top of the game? Don’t just read up on real estate market trends. Read up on travel trends too.
Use the same research skills you employed when you were looking for properties to rent out. The assumption here is you didn’t just buy those properties because it seemed like a good idea at the time. You bought those homes because you considered demand trends, as well as long-term profitability.
For newly bought homes, you should also make every effort to know the area well. Be on the lookout for future developments that could affect the value of your rentals. A residential property specialist can be a big help here.
Need Advice on Your Property Rentals?
Please don’t hesitate to share all of your property needs with us. We want all our clients to learn how to get the most out of their property investments.
If you need more information, call us at (909) 548-0044 or send your info (we’ll need your name, phone, and email address) to get your free rental analysis. You can also leave a comment here to get the conversation started.