What Makes the Best Vacation Rentals?
One of the first things you may ask yourself when considering purchasing a property for vacation rental purposes is what makes the best vacation rentals? You shouldn’t just cross your fingers and buy the first property your realtor shows you, hoping it has everything you need; you should do a little research and buy a property you KNOW will work for your purposes. It’s not complicated—just think about what you would like when renting a vacation home and go from there. To make matters a little simpler for you, we’ve compiled a list of the aspects of the best vacation homes that make your property the perfect rental.
Location, Location, Location!
Yes, you’ve heard this said before, but it bears repeating—the location of your investment property is of utmost importance! For vacation rental purposes, a home in Columbus, Ohio is probably not going to be a popular choice. Most people who vacation in Ohio are visiting family or are there on business. But any home in Florida would be great for your purpose. Once you decide on the state, then you can start narrowing down the location: near the ocean, near a lake, in the heart of the city close to popular tourist activities, or in the country with land and a private pond. These are all things you should consider when you first decide to buy a property. Vacation homes in St. Augustine, FL are a great option, as St. Augustine is a popular tourist destination.
Obviously, the smaller the property, the less you can expect to earn rental wise; the larger properties garner higher rents. A large property with multiple bathrooms can be in great demand. More bathrooms mean morning traffic jams with everyone trying to get ready at the same time will not be an issue. Larger bedrooms allow for more beds. More beds equal more guests, and again, rents can be higher.
If your property is already equipped with high end appliances, custom cabinetry, and luxury bathrooms, you’re on your way to creating a wonderful income generator, but there’s still more to consider. Furnishings should be lush and opulent, linens should be soft and generous, and even the dishes, silverware, and other utensils should be high end and feel satisfying to the touch. You have to spend money to make money, and guests love to be spoiled. Go the extra mile when furnishing and stocking your vacation property and watch your bank account grow!
The Ocean Gallery
There’s a lot that goes into the making of the best vacation homes, but don’t feel overwhelmed. Schedule a meeting with our great staff and let us be your guide to financial security!