The sun is out and vacationers crave road trips with the top down — and beachfront properties as beautiful as their views. It’s your stunning home, and all the amenities that come with it, they desire. As the owner of multiple properties, the idea of renting out your home feels like a financial no-brainer. But where do you start?
Providing the Perfect Rental Home Starts with a Plan
Any new rental property should start with a business plan and healthy local and national advertising.
From there, you want to create the perfect listing. Here are 10 tips for building a listing and renting out your secondary home:
- Take high-quality photos. Done right, photos work hard to sell your property. Taking high-quality, staged photos can have a huge impact.
- Offer a full kitchen and attractive interior space. One of the main reasons renters choose a property over a single room or hotel is access to a full kitchen. Another is the interior design and upkeep of that space. Items like artwork or a chandelier can add a touch of elegance and class.
- Upgrade your amenities. Beyond renovation, updating items like your kitchen appliances, washer and dryer, TV, and more can make a huge difference.
- Keep information current. Be sure your ad contains information about local attractions, the neighborhood, newly opened restaurants, parks, family fun, and more.
- Include a floor plan. Help potential renters envision what their temporary living space will look like.
- Renovate your bathrooms. Bathrooms are a key selling point. The bigger, the better. Consider renovating and adding a spacious shower. Simple changes like new fixtures, towels, and clean floors can also make a big difference.
- Optimize the outdoor living area. While the beach is a huge selling point, renters are willing to pay for luxury in the outdoor area as well. Consider adding a swimming pool, outdoor kitchen/bar, or fire pit to spruce up the property.
- Know the tax rules. Knowing the tax rules regarding rental property, as well as tax deductions, can help you avoid potentially costly issues down the road.
- Protect your secondary home. While deposits equate to 10% of the rental cost, they don’t cover everything. Make sure your home is well insured, under the right policy, should damages occur.
- Good or bad, respond to complaints. No one likes a bad rental experience, but as the owner of the property, it shows you genuinely care about your property and renters when accepting and responding to critical feedback — this is especially important given the reach of social media. Plus, it gives you the opportunity to improve as a host.
At the end of the day, you own your property. And while we love providing tips on renting your home out this summer, we specialize in making sure it is well-protected, inside and out.
Many of our customers contact us to help insure their Hampton homes and businesses, and quickly learn that we also provide expert advice in insuring rental properties. And with the help of our vast, knowledgeable network, you can attain the degree of coverage that your additional properties deserve. Let a qualified Dayton Ritz + Osborne insurance expert assist you with any questions and help connect you with the best coverage options.
Dayton Ritz + Osborne Insurance proudly serves the Hamptons area. Call today at 631-324-0420 or visit our website.