Homeowners have an opportunity to create an additional source of income by renting out their vacation homes in Orlando. Knowing how to turn your Orlando home into a short-term rental property increases its lifetime value while reducing its total cost.
The following tips will help you simplify the process, avoid common issues, and create a profitable vacation home for you and your family.
Establish Your Home’s Availability to Short-Term Rental Guests
Planning ahead is the first step to getting a steady stream of paying rental guests. What dates do you want to set aside for you and your family to stay in your vacation home? Block these out now so that you can determine when your home is available to renters. Consider special occasions like birthdays, graduations, and anniversaries.
National holidays are peak travel times, so you’ll need to decide when you want to take advantage of the higher demand for short-term rental homes in Orlando. You can always overestimate how much time you’ll want to spend in the home yourself, and then as a particular date nears, you can change your availability and let guests reserve a stay after all.
Set House Rules for Your Rental Guests
Establishing a set of house rules protects you by making all expectations clear for your rental guests. Here are a few things you may want to consider when putting together your set of rules:
- You may want to limit the number of people staying in your home or outside visitors they might invite over during their stay.
- Will your vacation rental home be pet-friendly? If so, ask for an additional deposit to cover any potential damage caused by pets.
- Will guests have access to the entire home? Can they use your home’s appliances, such as your washing machine and dryer?
Make it clear how your home should be used and maintained during their stay and when they check out. Keep house rules posted in the home where they can be visible to all guests, such as on the refrigerator.
Prep Your Home for Every New Guest
Deep cleaning your home is a must when you decide to put it on the market as a short-term rental property. But you need to make sure it’s thoroughly cleaned between guests as well. Invest in professional cleaning services. Rental guests appreciate a home they know has been cleaned according to industry standards. They’re more likely to recommend your home to others and book future visits.
Set up a keyless entry system or a lockbox to make the check-in and check-out process more convenient while enhancing the security of your home. It’s also a good idea to supply items to make your guests’ stay more comfortable, such as pens, pencils, scissors, extra blankets and pillows, cooking utensils, plates, bowls, silverware, food storage containers, stain removers, disinfectant spray and wipes.
Knowing how to turn your Orlando home into a profitable vacation rental can be an excellent way to achieve your investment goals. Team Donovan helps home investors buy and sell luxury vacation homes in Orlando and the surrounding Central Florida area. We can help you reduce the cost of your home and get a higher return on your investment when you place your home on the thriving short-term rental market. Fill out our contact form or call us at (407) 705-2616 to schedule a free consultation.