Common Mistakes in Renting Vacation Homes
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How can you avoid mistakes in renting your vacation home?
The most common mistakes made by vacation rentals by owner are:
- Not having a financial “cushion” to handle vacancy periods and property up-keep.
- Neglecting to maintain property in perfect condition for peak rental cycles.
- Not hiring reliable cleaning and maintenance professionals.
- Failing to research online property listing opportunities.
- Not researching rental rates and under-pricing or over-pricing rentals.
- Using a poorly written rental agreement.
- Failing to carry sufficient homeowners/liability insurance.
- Underestimating the importance of rental amenities and property extras.
- Neglecting follow-up with renters.
Do your homework. Comprehensive research and attention to detail help property owners avoid mistakes and maintain successful rental track records.
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