Venturing into a vacation rental business sounds like a good investment plan. After all, people love vacations and everyone deserves a cozy place to stay while taking a break from work and daily life. It is also beneficial for the vacation property owner, as you won’t have to worry about where to stay for your next holiday.
The first step in this business is to look for a potential property. And it shouldn’t just be any kind of property. It must be found in an appealing location. The best places to own vacation rental property is near the beach, lake, or mountain or perhaps close to casinos, parks, or other attractions nearby. Let’s help you find what you’re looking for!
Best Places to Buy a Vacation Rental Property This 2020
Location is one of the main selling points of a vacation rental property. When people go on vacation, they long to explore what’s unique in the area. If you can offer accessibility to top attractions and other amenities, potential tenants will like these perks and will probably choose your place over other options. So, where can you buy the ideal vacation home?
Some people are enticed to stay in lodging near the mountains simply for the majestic views. Purchase a vacation rental property in Sevierville, TN to offer vacationers not just the beautiful sights but also easy access to the Great Smoky Mountains. Your guests can also explore underground caverns or even have a free Appalachian white whiskey tasting experience at the Tennessee Legend Distillery.
Check out listings that offer the best properties for a second home at Killington, VT. The town is known for its world-class ski resorts, so the winter season will be your most lucrative time of the year. Don’t be surprised about the surge of bookings you’ll receive during the winter holidays, as guests will want to try skiing, snowboarding, and other activities. The property can also be a great place for your family to celebrate Christmas or any other special occasion!
If you’re a bit conservative about investing in a rental home, you may want to start your search of the best place to own a vacation rental in a small yet thriving town, such as Davenport, FL. Here, guests can enjoy a true escape from the city chaos by spending time at any of the lakes nearby. Promoting the city’s top attraction—hot air balloon rides—will surely have reservations at your unit surge in no time.
Whittier, North Carolina
Vacationers can have new experiences when they visit Whittier, NC. It is considered the best place to buy a short term vacation rental property, because this quaint village has a lot of adventures to offer guests. The Tuckasegee River nearby makes for a perfect destination for white water rafting, kayaking, and other water sports. The picturesque Mingo Falls is also worth a visit.
Kids will surely love it at Kissimmee, FL, as it is located near world-famous theme parks, like Legoland and Walt Disney World. For guests desiring more nature time, they can plan for kayaking at the Florida Everglades. Beat the heat by not just simply swimming in pools but also trying out the different kinds of slides at the new water park, Island H2O Live.
Dauphin Island, Alabama
Dauphin Island, FL is an affordable family-friendly vacation spot. The beautiful sight of the Gulf Coast is something you can boast in your listing. On the west side of the city, guests can dip in or try water adventures at any of the beaches. Meanwhile, on the east side, they can go bird watching and discover hundreds of bird species.
Myrtle Beach, South Carolina
One of the best places to buy vacation rental property 2020 investment is in Myrtle Beach, SC. You can easily attract guests by mentioning the city’s proximity to the sparkling Atlantic Ocean. Nearby attractions like WonderWorks and Ripley’s Believe It or Not! will surely entice potential visitors. If those aren’t enough, you can offer discounted tickets or reservations to shows at The Carolina Opry.
Key West, Florida
Key West is famous for its stunning beaches and historic sites. The best vacation property investments here are in conch style and bright pastel colors, which perfectly suit the South Florida landscape. Introduce Duval Street to your guests, so that they can have a vast taste of the dining and nightlife culture of this city.
appreciate nature, such as in Gallatin National Forest and Yellowstone National Park. Guests will surely fall in love with this place even more by paddling around Lake Levinsky or rafting the Gallatin River.
Vacation Rental Laws Per State
Before checking out listings of the best places to buy vacation rental property from, it’s worth taking note that short-term rental laws var
Fort Bragg, California
Fort Bragg is a coastal gem. It provides for an optimal investment in a rental property, because of the many things your future guests can do. When visiting this city, one shouldn’t miss visiting the colorful stone treasures at the Glass Beach. If you have the time, you can take your tenants to the Princess Seafood Market and have them indulge in freshly caught seafood. This will definitely make your guests leave positive reviews on your listing!
Big Sky, Montana
Big Sky, MT offers an all-year-round destination to travelers. Some people may know this city for its epic ski trips, but it offers more than just that. There are many hiking trails to pay by state. Some states only permit rooms or garage apartments to be rented, while other states only allow the whole property owners’ primary residence. Depending on how you want your property to be rented out, either by room or by the full apartment or home, you should first check the regulations of the state where you’re planning to invest.
How to Maintain Your Vacation Rental Property
For you to succeed in your short-term rental business, you must know how to preserve the beauty and integrity of your chosen property. If your unit remains clean and well-maintained, you can be sure to consistently get bookings from new and even repeat customers. Here are a few tips on how to keep your vacation rental property appealing to potential renters (especially during the pandemic).
Cleaning Your Vacation Rental Property
High Touch Surfaces
Make sure the light, switches, doorknobs, tabletops, fridge, and other high touch surfaces are cleaned regularly. Wipe them or wash them with soap and water as needed. Use a disinfectant solution, either a bleach diluted in water or 70% alcohol solution for guaranteed cleanliness.
One of the dirtiest parts of any property is the floor. Always use a vacuum to ensure all dust and dirt on the floor are removed. Then, mop the floors with warm water and disinfectant solution.
You also need to ensure that electronics, such as the television, remote control, or game consoles, are cleaned and dirt-free. As always, wipe or spray them with a disinfectant solution. Just make sure that the liquid solution doesn’t get inside and damage the electronics.
All linens should be kept fresh for customers’ satisfaction. Take away all towels or bed covers and remember not to shake them so to prevent the spreading of germs. Place them immediately in a washing machine and use the highest settings to ensure the highest cleaning power.
All dishes, as well as cooking and eating utensils, must also be disinfected after guests leave. Use disposable gloves and wash everything with soap and warm water. If you’ll be using a dishwasher, load everything into it, and set the cleaning settings to its maximum level.
Managing Your Vacation Rental Property
Here are some comprehensive property management tips you can apply to ensure you get a higher profit.
Interior Design Update
Well-designed and well-kept properties are hard to miss. Adding in one-of-a-kind furnishings, decorative items, and even equipment can add to your total booking rate. Check out other listings to come up with ideas of what unique items you can include to decorate your property.
Keep Your Guests Safe
The convenience and safety of the guests should remain your top priority. That is why you should conduct regular rental maintenance and inspections. After each guest checks out, search the premises for missing or broken items, potential issues, or essentials needing to be refilled or replaced. Work on taking care of these issues before the next guest checks in. You should also schedule monthly and annual maintenance inspections to be sure everything is working properly.
Leave a Manual
A great solution for your peace of mind is to leave your guests with a manual. Here, you can include your house rules or instructions on how to use some of the amenities. This creates a positive customer experience and reduces your workload as a property manager.
Vacation Rental Software
Manage your vacation rental with ease by implementing vacation rental software. This tool helps in booking management, billing and invoicing, website management, and more. Using it simplifies your job as a landlord and allows you to stay on top of everything.
Work on the Advertisements
Post pictures of your property and every detail of it. If you can, hire a professional photographer to ensure images of quality and great lighting. Make sure that all property information is up-to-date. Lastly, ask for reviews from your former guests, and don’t forget to feature the most enthusiastic ones!
To make it in the vacation rental business, your first job is to do research, and this includes looking for the best places to buy vacation rental property. In fact, one of the most important factors vacationers consider when booking a place is its location. Add in state laws to your research to avoid future complications. Lastly, know how to keep your property spotless and safe for your guests’ overall satisfaction and well-being. Get more tips on how to run your business from our website!