Are you a homeowner in Saint Augustine, FL? You may not realize it, but your humble abode can bring in a King's ransom!
If you spend time outside of the city, why not rent out your home to travelers? It's a great way to make extra cash and can even turn into a full-time business.
Many tourists have been flocking to Saint Augustine since the end of the pandemic restrictions. Now's the best time to start renting your home to travelers.
Here's what you should know:
Market Your Vacation Home
Since you'll be focusing on short-term rentals, you'll have to advertise your home as a vacation property. You can capitalize on the revenge travel phenomenon.
You want to specifically attract tourists who wish to explore new destinations post-lockdowns. Make sure you not only promote what makes your property special but also what makes Saint Augustine worth visiting.
You can use platforms such as Airbnb to promote your vacation home. You should use social media platforms such as Instagram and Facebook to promote your property listing.
Understand the Laws
Before accepting tenants, you'll need to ensure you're remaining compliant. Understand the laws regarding landlord-tenant relationships first. You can hire a real estate lawyer to help explain these laws.
In case of any major disputes, you'll need a real estate lawyer to help fight your case. This lawyer can help you understand the terms and conditions of a rental listing platform as well.
You'll also have to set house rules for your guests. These aren't laws but they're guidelines that your guest is expected to follow. You can filter out good guests from bad ones based on how well they follow your rules.
House rules can include:
- Taking out the trash
- Putting towels in the laundry basket
- Turning off all lights at check-out
- Keeping the property clean
- No guests
- No loud music after sunset
Make sure you share these house rules before your guests check-in. They should have an idea of what you'll expect from them beforehand.
Prepare Your Home
You'll have to accept that your home will become an investment property for a limited time each year. As a result, you should make some changes to your home. Think about what you can do to make it more welcoming to travelers.
You can add more amenities to your home. This can include SMART technology, kitchen appliances, and premium furnishings. Your guests should feel as much at home as you do.
You must also hire a professional inspector to look at your home during vacancy periods. They'll let you know if any issues require repair or renovation.
Start Renting Your Home to Travelers
Now you can start renting your home to travelers eager to visit Saint Augustine!
But you can't do this all by yourself. You'll need a great property management company to turn your home into the perfect vacation getaway!
PMI Ancient City has received several five-star ratings from landlords all over Saint Augustine. We look forward to working with you.
