Please Share Your Knowledge And Experiences Regarding Short Term Rental Vacation Homes

[Keith Courtney]

I live in Orlando. My real estate focus is on short term rental vacation homes – especially the approximate 26K short term rental vacation homes that are within a 30 minute drive to Disney World. In my dealings I have been surprised by the number of owners that do not make a profit with their homes. So many of them invested in their homes “blindly” without having a good idea what it takes to make a profit with a short term rental vacation home.

My formula to make a profit with a short term rental vacation home has 3 parts:
1) The vacation home must offer the amenities renters want.
2) A good property manager
3) A good marketing program to maximize rental bookings

I would appreciate your thoughts regarding the above. And, if you have owned or currently own a short term rental vacation home, what has your experience been?

Thanks - Keith Courtney

[Ann Watkins]

I own a small vacation rental and when I first bought it my focus was to make it different from the other units. So I didn't do a nautical or beach theme I did a highly upgraded tropical theme.

Removed all carpet and installed tile, granite countertops with a brick backsplash. Rattan upholstered furniture and upgraded lighting. And I took one closet and converted it to a private writing space with a granite desktop and custom cabinetry.

I also added complimentary coffee and tea, enough for three days.

On occasion I offer free tickets to movies, Moody Gardens, restaurant certificates, etc based on length of stay.

Little things like that set my property apart from the others and I pretty much stay booked year round. This year I'm running an ad in the Writer's Magazine featuring my property as a writer's retreat (this was always my idea, hence the built in desk) Hopefully this will get me a long term rental and I won't spend as much for cleaning for the shorter term rental guests.

@Karen Margrave I always get calls about my Galveston unit asking could it be used for family reunions. I don't have enough space for all that, but I have rented it to a family of 6 who was part of the larger family reunion group. This is one thing that made me want to get additional units, as they usually like to be in one place. This could be one way to market your property and there are a lot of sights geared just for that.

Also, just throw it on Flipkey and see what type of response you get. You'll also be able to see your competition that way.

www.flipkey.com

http://familyreunionhouses.com/Californiafamilyreunion.html

http://www.vrbo.com/vacation-rentals/usa/california/shasta-cascade/shasta-lake/shasta-lake