Almost the entire state of Florida has a strong vacation rental market, and if you’re thinking about transforming your home into a vacation rental property, you’re taking the first step towards a potentially lucrative opportunity.
But you have to do it right.
Here are some essential first steps you must take to ensure success. Our professional property management guide offers the foundational steps necessary to transform your home into a welcoming vacation rental property.
1. Research Regulations and Legalities
Before you start renting out a vacation home, make sure you get your property registered in the state of Florida. You’ll have to acquire the proper licensure through the Florida Department of Business and Professional Regulation (DBPR). Your city will also sometimes require a permit or a license as well as tax payments. Make sure you’re compliant before you begin listing and renting out a property. You’ll also want to adjust the insurance you have to ensure it covers short-term rentals.
2. Upgrade and Furnish for Comfort and Style
The vacation rental market in Florida is competitive, and your property needs to offer both comfort and style. Assess your home objectively. Upgrades may be necessary to meet the standard expected by travelers. High-quality mattresses, fresh linens, a fully equipped kitchen, and reliable Wi-Fi are non-negotiable for most guests.
Additionally, decor plays a crucial role in creating an inviting atmosphere. Opt for a theme or style that resonates with your identified target audience but try to maintain a balance between personal touches and a universally appealing aesthetic.
3. Set Up Operational Systems
Running a vacation rental goes beyond just handing over keys to guests. It involves managing bookings, cleaning, maintenance, and customer service. Starting with a clear system for each of these operations will save you many headaches and a lot of confusion. If you’re not yet overwhelmed, you will be. Consider working with a property management partner who can expertly manage all of these details for you. Otherwise, you’ll need to invest in vacation rental management software to streamline reservations, sync your reservations calendar across platforms, and keep up with cleaning and maintenance.
4. Market Your Property
Pictures sell your property. Once you’ve got your home looking its best, invest in professional photography to showcase it. High-quality, well-lit photos highlighting the unique features of your property can make a significant difference in attracting potential guests. Remember, you’re not just selling them a place to stay; you’re selling an experience.
While platforms like Airbnb and Vrbo are the giants in vacation rentals, don’t overlook other listing sites that cater to different audiences or offer lower fees. Listing your property on multiple platforms increases your visibility and booking potential. Ensure that your listings are thorough, enticing, and, most importantly, accurate to avoid disappointed guests and negative reviews.
5. Focus on the Guest Experience
Finally, the success of your vacation rental property hinges on the experience you provide your guests. Personal touches such as a welcome basket, a local guidebook created by you, or simply being responsive and helpful can leave a lasting impression. Encourage guests to leave reviews and be open to feedback; it’s invaluable for continuous improvement.
Transforming your home into a vacation rental property requires a considerable amount of work and investment. Don’t waste time and money on mistakes. We can help you. Please contact us at Oceans Managing Group by calling (386) 255-8585, or visit www.oceanspropertymanagement.com.
