If you are just getting started and wondering where to start, here are a few steps to take before you close on your vacation rental property. Most "new" hosts contemplate their purchase 12-18 months before they submit an offer on a vacation property. So, take your time, do your research, and Welcome to the Hospitality Business!!
NOTE: If you already have a property, start with my ADVERTISING post and go from there.
This is where it all starts. Join me as I take you back to our beginning as we started our own journey to become vacation rental owners.
Here's where it starts to get real. I share the approach we took to estimate the profitability of our property. I also discuss a sample template that we used to help validate our property.
Whether your property is down the street or miles away, never underestimate the value a realtor can bring to the table. Here I also cover several considerations when selecting a vacation rental property.
You have many things to consider when deciding on the right vacation rental property. One decision you might face is what to do with future bookings the property already has.
These are the building blocks to get you started. In this post I will walk you through setting up your social image and creating your first post.
This is a basic introduction to the most popular booking platforms and how to quickly get up and running.
An overview of a few documents you can prepare up front, ready to personalize and use when your first bookings start coming in.
GETTING STARTED - Licensing and Taxes
As a vacation rental owner, you need to comply with both licensing and tax requirements for your location. Although it sounds overwhelming, there are many resources at your fingertips to get you started and to provide on-going help.
WAIT...It doesn't stop here!
Check out my 3-part series on "Preparing Your Vacation Rental Property for Guests". We'll start with a pre-closing assessment of the property. And we'll end with assembling an on-site team to help manage the property when the doors open for your first guests.
Stay ahead of your advertising tasks by "Building Your On-Line Property Listing". This is another 3-part series to walk you through key components and SEO considerations to make sure your listing gets a jump start. TIP: Create your listing in draft mode ahead of time. Once you close, flip it to ACTIVE and start accepting bookings!