#VACATION RENTAL BUSINESS PLAN PDF HOW TO#
The customers will call you at midnight to say their GPS can’t find the location, or the key isn’t at the designated spot, or to ask how to operate the thermostat. You’ll also need to provide furnishings: couches, beds, tables. You’ll need to schedule the cleaning crew. A fraction of those people will decide to reserve the home, which means you’ll need to take a deposit (“Yes, we accept Visa”) and send them reservation paperwork. People will contact you to ask about availability, amenities, location, pet policy and other questions. You’ll spend a lot more time responding to customer requests, cleaning during the “turnover” period, and scheduling check-ins and check-outs. Your customers expect things that normal tenants would never ask a landlord for: clean towels, rolls of toilet paper, organized kitchenware. Renting out a vacation home is one step away from running a hotel. Is this a worse/better investment? Short-term rentals at a premium price during a vacation season? Would you consider this a riskier proposition?” I’d love to hear your thoughts on vacation property. “You talk a lot about rental property - but focus on tenants with traditional long-term leases. In the meantime, here’s the original article below, explaining my ideas about vacation rental ownership before I dove into the scene.
#VACATION RENTAL BUSINESS PLAN PDF PDF#
I recommend checking out that series and downloading this free PDF guide if you’d like to learn more about investing in a vacation rental. I documented and detailed everything - with total transparency around the income and expenses - in a massive four-part series, which you can read here. I hosted 55 guests and earned $28,268.35 in my first year as an Airbnb host. One year later, in spring 2014, I started my own vacation rental business, renting an apartment on Airbnb. UPDATE, 2016: I wrote this article in June 2013.
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