While rental properties can be excellent investments, it’s important to have a good plan in place before launching a vacation rental business. After all, you won’t just be investing in rental property: You’ll also be hosting short-term guests, maintaining the property, and continually advertising your rental listing. Let these resources be your guide.
Consider Your Location, Taxes, and Fees
To make the most money as a vacation rental business owner, you’ll need to choose the right locations for your properties and consider the hidden costs of owning vacation rentals.
- Start by choosing a location for your first vacation rental property.
- Consider the hidden costs of owning a vacation rental.
- If you’re buying beachfront rental property, you can expect your tax and insurance costs to be even higher.
Purchase Your Vacation Rental Property
From financing your vacation rental to hiring a real estate agent, these resources will help you to get your vacation rental business off the ground.
- Secure financing for your first vacation rental.
- Work with the Stuart St James team who can help you to find available properties in your desired location and price range.
- Before making an offer on a property, calculate each home’s potential return on investment (ROI).
- Safeguard your investment and hire a property management company with extensive rental experience.
- Take a look at the different tax deductions you could qualify for as a vacation rental property owner.
- Put your accounting software to work for you to track expenses, manage bills, and stay tax compliant.
Advertise Your Vacation Rental Business
Once you’re ready to welcome guests to your vacation rental, you’ll need to create a property listing that stands out.
- First, look for ways to make your property stand out on- and offline: Purchase completely customizable wallpaper for your walls; invest in upgrades like pools and hot tubs; and consider offering bikes, kayaks, and other popular beach toys for your guests.
- Build a website for your vacation rental business and create a rental listing that attracts the best guests.
- Make custom logos in an instant for your vacation rental business by using editable logo templates.
- List your property on websites like Airbnb, VRBO, and Booking.com.
There are lots of advantages of purchasing a vacation rental, from the passive income and tax write-offs to having your own vacation home to visit whenever you’re in need of a getaway. But buying a vacation rental property does have its downsides, and it’s important to do your homework to ensure long-lasting success as a vacation rental business owner.
Keith Munsell 
