You’ve decided to rent out your vacation properties to tenants long-term. You want to create a comfortable, convenient rental experience, so you are investing in the necessary amenities. You also want your tenants to be able to easily input maintenance requests, view rental agreements, and access other service features.
Above all, you want them to know you are available to tend to their needs.
Before you begin renting, here are 4 top tips on renting. These tips are key when choosing to offer your property for long-term rental. They are also useful if you’re marketing your home for short-term stays.
These tips are gold for first-time landlords. Even if you’ve done this before, you might not have considered them all the first time around.
You’re likely wondering, “How much will my house rent for?” Do your research to determine how to price your rental.
Investigate area rents and tour properties to compare housing quality and amenities. If you do decide to price your rental above average, make sure your property offers more high-quality amenities to make it worth a renter’s money.
If you’re looking at short-term rentals, you can increase profit margins and reduce hassle is to set a minimum number of nights that guests can stay. This allows you to do less cleaning and upkeep between guests.
A good property management system will allow you to manage renters and short-term reservations easily, while delegating tasks to your team in a timely manner.
It’s a win-win. You provide your tenants with the best customer experience ever, while reducing your workload. The benefits multiply if you manage more than one property.
Choose a system that fits both your needs and that of your tenants. With a new, modernized platform like Jervis Systems, you can streamline your workload and eliminate errors.
Manage expectations and reduce disputes by creating a list of house rules for renters. Find a basic lease contract online and tailor them to your situation.
Will you allow pets? You may want to require a pet deposit.
Most importantly, create a clear policy on broken leases due to extenuating circumstances. You can find sample leases online, and copy or adapt them to your needs.
If you follow these steps, you’re on your way to a successful business venture.
Want to equip yourself with the best tools for success? We’re currently offering users the chance to beta test our features before they’re revealed to property managers everywhere. Contact us here to gain early access and learn more about our official launch!