3 Tenant Services That Maximize Vacation Rental Profits
Vacation rentals can be an extremely lucrative investment strategy, often bringing in two to three times the amount of income compared to a long-term rental. However, one of the biggest challenges for vacation (or short-term) rental owners is possible vacancies during off-seasons. Maximizing your rental profits during popular times can make those off-seasons less stressful. Here are three creative services you can offer your short-term tenants that are sure to minimize their stress and maximize your profits:
Offer a pick up and drop off dry cleaning service. No one wants to do laundry when they are on vacation, nor do they want to go somewhere to take their clothes. Think about it. Many hotels offer this service, so there could be a golden opportunity for you.
Allow pets and offer pet related services. Not only can you charge a pet fee, but also you can offer services such as grooming or dog walking. People love their pets and love to travel with them.
Work with a local baby sitter or childcare facility to provide childcare services. Often on vacation, parents want a day or night to themselves, but it is hard to find a trustworthy option to leave their children. Take out the stress of finding someone reliable, make a little money, and increase the appeal of your vacation rental.
Disclaimer: The information in this blog has been prepared solely for informational purposes. The contents are based upon or derived from information generally believed to be reliable although Visio Lending accepts no liability with regard to the user's reliance on it. For legal advice, please contact your counsel.