From May through June 2023, there were over 72,000 short-term rental bookings in Vail. Rates for these rentals range from $55 to $776 per night. If you own a second home in Vail, why not make extra money and turn it into a vacation rental?
Of course, you will have to put some work in upfront to get your home ready for renters. But don't worry, we're here to guide you through the process. Here's what you need to know about how to rent your home for vacations.
Understand Laws and Regulations
First, it's important to make sure you can legally turn your home into a rental property. Short-term rentals are allowed in Vail, but you must obtain a license to operate one. State and local laws may vary, so make sure you're complying with both.
If your home is part of an HOA, check to see if there are any regulations on vacation rentals. HOAs work to maintain neighborhoods and keep property values high, so it's important to make sure you're not violating any rules.
Conduct Any Necessary Maintenance
Your home needs to be in excellent condition before your first guests arrive. Make sure to conduct a thorough inspection of the following:
- Major appliances
- HVAC system
- Attic and/or basement
If you find any issues during your inspection, make any necessary repairs right away.
Upgrade Your Decor
Make your vacation rental stand out by upgrading your decor. It will help you attract more potential renters who may be willing to pay more to stay in a sophisticated, well-designed home.
When decorating your home, go for a timeless look that will appeal to everyone. Make it warm and inviting. Add small touches like throw blankets and soft rugs for an added layer of coziness.
Stock Up on Essentials
Travelers have come to expect certain amenities in short-term rentals, including:
- Sheets and towels
- Dishes and silverware
- A coffee maker
Make sure your home is fully stocked with essentials before each stay. To make your rental property stand out, include extra amenities such as a travel crib for families or streaming services for young couples.
Get Professional Photos
Professional photos will help market your rental property and set you apart from the competition. Many renters choose where to stay based on the pictures, so a few cellphone snapshots aren't going to cut it. Professional photos will help you get more bookings, so they're worth the investment.
If you want to take things a step further, consider adding a virtual tour to your listing. This helps renters envision themselves in the space, which may also drive more bookings.
Now You Know How to Rent Your Home for Vacations
Now that you know how to rent your home for vacations, it's time to get started. Whether you already own a home or you're looking to invest in a short-term rental, you have the tools you need to succeed.
If this feels like too much work to take on yourself, consider working with a property management firm. PMI Vail will handle everything from marketing to cleaning to maintenance.
Ready to get started? Contact us today to learn more about our services.