Home | Everything Else | 7 Mistakes To Avoid When Renting Out A Vacation Home

7 mistakes to avoid when renting out a vacation home

7 mistakes to avoid when renting out a vacation home

Owning a vacation home is a luxury that can also be a lucrative investment. Many people who own vacation homes let the property pay for itself by renting it out. It’s a great way to earn money, but it can also be slightly tricky, considering one will be letting strangers live in their home. To get the best out of the investment, here are some common mistakes to avoid when renting out a vacation home.

Taking on too much responsibility
Putting a vacation home up for rent is a lot of work, especially for one person. Outsource the work instead; make use of apps for accounting and apps to fill vacancies to simplify the process. Hire a maintenance crew to clean up after each renter leaves or a property manager to check up on things while the house lies vacant and prepare it for the next renter.

Wrong and inflexible pricing
Pricing is everything. In a high tourist-traffic area, keeping the prices too high could deter potential renters, while low pricing could send a barrage of queries, which will take ages to sort through. Consider the location, the scope of the property, and, of course, the demand. Events near the home, proximity to seasonal holiday spots and famous landmarks all determine the cost of rent. Keeping an open mind regarding flexible pricing will go a long way in determining a constant flow of interested renters.

Not having vacation rental insurance
Short-term rental insurance is great for homeowners looking to rent out their vacation homes. It covers potential liabilities that could occur while the home is being rented out. Standard short-term rental insurance covers theft and liability, guest liability, and property insurance. What short-term insurance does not cover is intentional damage, damage to the guest’s property, and wear and tear. Not having this insurance leaves one open to a lot of liability that could result in hefty payments.

Not considering laws
Laws and by-laws differ from state to state, and these need to be studied well to rent out a vacation home legally. Consult a real estate lawyer to understand the legalities of owning a vacation rental home and the rules, regulations, and laws that could apply when it comes to noise offenses, illegal parking, and garbage disposal. Also, look into the area’s occupancy limitations, procedures, and regulations for registration and tax collection.

Not having a rental agreement
Renting out a home may be a lucrative venture, but it could turn into an expensive one if the rental agreement is not clear and precise. A real estate lawyer can help draw up the agreement in accordance with the area’s codes and regulations to protect one from any kind of liability, unforeseen expenses, or even difficult, unruly renters.

Skimping on maintenance
Maintaining the home and the attached property, if any, will allow for a great first impression. Simply expecting the renters to leave a clean home is not an option, and one must always have a backup plan, like a professional cleaning service, to spruce up the place before the next set of renters arrives. Alternatively, consider hiring a professional property manager to handle bookings, maintenance, and guest communications.

Not focusing on marketing and advertising
The most luxurious homes won’t have any takers if no one knows about them! Get the word out there through listings on booking websites and social media. Create a great-looking profile with vivid, high-quality, attractive photographs of the property accompanied by tastefully written copy to ensure the listing gets the right kind of attention.

Read Also

Know more about exciting & latest articles right here

Top 4 reasons for unnatural hair loss patterns

Top 4 reasons for unnatural hair loss patterns

Hair loss is a natural process that automatically gets rid of old tissue and hair to promote new growth. So don’t be alarmed when you do find a few strands of hair tangled in your comb. However, a clearly visible scalp and a receding hairline are indicative of developing the problem of permanent hair loss. There are several internal and external factors that can accelerate hair fall, leading to pattern baldness in both men and women. Here are the top four reasons that trigger unnatural hair fall. Stress Stress ranks among the top risk factors associated with many medical conditions. In fact, one way or the other, taking physical or psychological stress harms the body more than you can imagine. For hair loss, especially, excessive shedding starts right after the body undergoes physical or psychological distress. A few examples include experiencing high fever, blood loss due to accident or injury, or even post-surgery recovery can result in stress that causes hair loss. Stress, coupled with anxiety, results in accelerated hair loss. To cope with this problem and reduce its effects, stress management is of crucial importance. Hormonal changes Men and women both experience hormonal changes throughout their lifetime. However, an imbalance associated with various conditions can trigger hair loss.
Read More
Learn about these 3 types of hearing loss

Learn about these 3 types of hearing loss

Hearing loss, deafness, or impairment is the partial or total inability to hear sounds. People with low to moderate hearing impairment face challenges in understanding what the other person is saying in a noisy environment. Whereas, people with severe deafness cannot hear anything, and rely completely on lip-reading and sign language skills. There are three main types of hearing loss: sensorineural, conductive, and a combination of both. Let’s understand these types in detail and learn about the causes, symptoms, and treatments of each type. Sensorineural hearing loss It’s the most common type of hearing loss. Sensorineural is permanent hearing loss often caused by damage to the tiny hair cells that line the inner ear or the auditory nerve. The damage stops or weakens the transfers of nerve signals to the brain. These signals are essentially the intensity and clarity of sounds. Causes: Aging and exposure to loud noises for a long period of time are the most common cause of the damage. Certain medications and illnesses can also increase risks. It can even be genetic, and pass on to the child in the mother’s womb. Treatment: There is no medical or surgical treatment available to repair the tiny hair cells once they’re damaged.
Read More
Simple lifestyle changes that reduce the risk of heart diseases

Simple lifestyle changes that reduce the risk of heart diseases

The heart is the most crucial organ in the body and as the system will cease to function if the heart stops or loses momentum pumping fresh oxygenated blood. This is why it is vital to not neglect your heart health at all and responsibly maintain a healthy, stress-free, and more importantly, a happy lifestyle. Here are a few simple lifestyle changes that will help support a healthy heart function. Switch to a healthy diet Avoid eating foods that are rich in trans and saturated fats. Most foods you find on the shelves of the supermarket contain large quantities of one or the other. Instead, switch to low-fat high fiber alternatives to help manage cholesterol. Maintaining a healthy cholesterol level in the body automatically reduces the risk of heart diseases. The simple reason for this is that fats that normally block major arteries and blood vessels are eliminated from these foods choices. It is also advisable to limit the salt (sodium) intake to control blood pressure and sugar to reduce the risk of diabetes simultaneously. Change certain lifestyle habits Reduce the number of alcoholic or carbonated drinks you have regularly. For men, it is advisable to have not more than two drinks and day and women must have only one.
Read More
How to distinguish between heartburn and GERD

How to distinguish between heartburn and GERD

Heartburn is an unpleasant, burning sensation in the chest that is more common than a lot of individuals realize. Pregnant women, older men, and even young adults experience it frequently. Despite it being such a prevalent experience, not many know that heartburn has actually nothing to do with the heart and everything to do with the stomach and the esophagus. Unsurprisingly enough, heartburn is also used interchangeably with GERD. But, before we get to deciphering heartburn and GERD, let’s understand what acid reflux is. What is acid reflux or GER? Acid reflux occurs when the lower esophageal sphincter or LES becomes weak, allowing the contents of the stomach to travel in the wrong direction, back up the esophagus. Acid reflux is also called GER or gastroesophageal reflux as it involves the stomach and esophagus. This condition can usually be resolved with over-the-counter medication. What is heartburn? Heartburn is a burning or painful sensation that is experienced in the chest. Since the lining of the esophagus is not as strong as the lining of the stomach, the acid from the stomach can cause a burning sensation in the chest. This pain or burning sensation that is heartburn can often be misconstrued for a heart attack.
Read More