Vacation Rental Business

Posted on September 30, 2021 - 06:17 PM by Karen Weeks

11 Must-Have Steps for Starting a Thriving Vacation Rental Business

You love vacationing. You love hosting travelers. So why not combine the two and start a business renting out vacation homes? Vacation home businesses are still very popular and can still be a very lucrative investment if you play your cards right.

Wondering what moves to make in order to make your new vacation rental business a raving success? Here are some tips to get started!

Simplifying Startup Steps and Operations

There’s a lot that goes into running a successful vacation rental company, but checking these administrative and planning projects off of your list will get you off to a good start:

  • Hiring staff to help with your venture? Check out these tips for recruiting and hiring only the best management employees.
  • You’ll also want to go through this curated list of must-do tasks for new vacation startups.
  • Protect your assets from potential litigation by registering as a Kansas LLC.

Finding the Right Vacation Rental Properties

Once you have the basics mapped out for your new vacation rental venture, you will want to begin looking for potential properties that you can flip and turn into maximum profits:

Transforming a Property into the Perfect Rental

With potential properties and funding sources lined up, you can begin making plans for any updates, repairs or improvements those homes will need to attract vacationers and renters:

  • Now more than ever, many vacationers expect rentals to be on par with local hotels.
  • One thing all vacation rental owners should invest top dollar in is a comfortable bed.
  • Cleanliness will also continue to be important, so consider hiring a cleaning company.

Marketing Your New Vacation Rental Business

Now that you’ve spruced up your rentals, it’s time to start bringing in those first customers! This is where being savvy with marketing and property management can pay off big time:

  • You can use this helpful guide to take the guesswork out of marketing your rentals.
  • Social media, including Instagram, can also be essential for growing your business.

Running a successful vacation rental business begins with the right plans, the right properties and the right features, and then bringing renters should be a snap. You can also increase your odds for success by working with a real estate professional who you can trust and depend on.

Photo Credit: Pexels

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