The concept of a vacation rental property has gained considerable momentum in recent years. For good reason, the expansion of the economy, in addition to the advent of the private accommodation sector, has made it considerably easier for families to go on more vacations. Buying a vacation rental property requires a keen understanding of local markets and projected revenue. We will discuss performance and pitfalls. You will also know how to set yourself apart as a premier host, commanding a greater rental pool. Topics will include:
• How to set up a vacation rental. The difference between short-term rental and vacation rental.
• What are your obligations to the guest?
• What goes into a successful business model? What are the best modes of rental leads?
• How to vet interested parties. How to protect yourself.
• The “real” net profit. The importance of reviews. Your vendor obligations and relations.
Upon completing the course, you will have an accurate understanding of what to expect when renting your home in the vacation rental market.