When it comes to lodging, many travelers look for options besides the typical hotel experience. Many property owners have switched from real estate to hospitality by offering their spaces for temporary/vacation rentals online. From extra bedrooms to entire residences, many people are earning extra income providing lodging alternatives. Here are some things to think about.
Location Considerations
One of the things to consider when it comes to your spaces is the overall location. If your properties are located near popular tourist attractions, then it might be a no-brainer to advertise your spaces as vacation rentals. Your property may not be close to a tourist attraction, but rather a part of town that sees a lot of business travel. Are there hotels and other lodging near the places you own? These might provide insights as to the type of traffic you’re likely to see in your rental(s).
Furniture and Interiors
Now you need to think about your accommodations. It’s not unreasonable to think that travelers looking for alternatives, may also value décor and interiors that are different from what is typically offered in a hotel. For example, a home with French-inspired architecture would benefit from coordinating furnishings, like French country dining tables and seating.
Logistics
An important consideration for your spaces includes the logistics of managing it. The workload associated with offering a space in your home will differ significantly from that of an entire house that is remotely located. You’ll have to consider cleaning between guests, accessibility, availability if a visitor needs to reach you and more. How does a guest access your property if you’re not around? Logistics have a huge impact on the guest experience.
Generating income through property as vacation rentals is a great idea. Travelers often are interested in different lodging experiences, providing an opportunity for you to score extra cash. A detailed, thorough plan backed up by research increases your potential for success.