Turning your Redondo Beach home into a vacation rental has tons of benefits, from giving you an extra source of income to allowing better interest rates than if you were to invest in a second home and turn it into a rental property. There may be several changes you need to make, however, in order to ensure that the home appeals to many different types of renters. You’ll also need to research the complete cost of running a rental property, including maintenance and how to insure the home. In order to make it a success, you’ll need to be as knowledgeable as possible about how to attract guests and cover the cost of maintaining the home.
First, think about any existing issues you want to address. The appliances may be in good shape, but if they’re more than five years old, you might consider replacing them. Giving guests plenty of spaces to sleep in is crucial, as this is one of the most common amenities renters search for. If it’s in the budget, upgrades like a pool, hot tub, game room, or updated bathrooms will go a long way toward getting a good return on your investment.
Here are a few things to consider when you’re ready to turn your home into a vacation rental property.
Hire a management company
Having a management company to take care of your beach home is a great way to ensure it’s maintained, safe, and ready for guests no matter what you have going on in your life. If you won’t be nearby while guests are staying in the home, a vacation rental management company can step up and offer round-the-clock local support, and they can clean the property between guests and keep track of your bookings so you don’t become overwhelmed.
Add some bedding
Your home doesn’t have to be the biggest on the block to attract the most renters. If you have two bedrooms, consider adding bunk beds to one of them, and invest in a comfy pull-out sofa to allow for more sleeping space. Families who are on vacation will appreciate a nice home within their budget that still has room for everyone to stay comfortably. Give them soft, clean bedding to ensure that their vacation is a relaxing one.
Make the right changes
Changing your home in order to make it more appealing to renters takes a lot of careful thought. You want to provide amenities for their comfort and enjoyment, but you’ll also want to make sure you get a nice return on your initial investment. Some of the most popular modifications for a rental home include updating the bathroom or kitchen, and adding luxuries like a hot tub or pool. Just make sure you double-check on the zoning laws in your city before you plan for big changes (some additions will require a permit), and research the cost of installation and maintenance as well.
Make it safe and secure
When a vacationer is away from home, they’re putting their trust into the property owner to keep them relatively safe during their stay. This means you’ll want to invest in some security options–from alarm systems to motion-sensor lighting for the exterior of the home–as well as smoke and carbon monoxide alarms in every room. Go through each area of the house and check to make sure the exits are unblocked and accessible for everyone, and draw out an escape route in the event of an emergency. The more you can do to prevent accidents and educate visitors about possible dangers, the safer your guests will feel, and the better you’ll feel about leaving your home in their hands.
Transforming your home into a vacation rental can take some time and effort, and if you’re looking to invest in something that will provide you with steady income, making careful choices is crucial. Start by creating a plan for your rental property that you can follow easily, and do your research to make sure you’re well prepared.