Offering your home as a vacation rental to incoming tourists can be a very profitable way to earn extra income, but it is not as simple as putting your house out to the market.

Vacation home rentals can often come with unexpected hiccups and challenges that a homeowner may not have considered as they prepare to offer their home to strangers for a fee.

Visitors will be paying a premium for their stay, which typically comes with high expectations so homeowners will want to anticipate some of the common headaches that accompany renting a vacation rental. We have put together a list of some of the major vacation rental mistakes that we have encountered in the past as a list of things to consider when you want to list your home as a vacation rental:

  • How will you manage collection / credit card payments?
  • How will you market your property to get it in front of your target customer?
  • How will you manage access / entry into the vacation rental?
  • Are you able to store all of your personal belongings / personal effects in a secure location?
  • Will you be able to empty your cabinets, pantry and the refrigerator and have them clean and open for a guest?
  • How will you manage damage deposits?
  • Will you have a cleaning fee and, if so, how will it be collected?
  • Will you have a minimum nights stay (e.g. will you allow people to stay for only 1 night, etc.)?
  • What are your cancellation policies? Keep in mind that if someone cancels close to their arrival, what are your chances / opportunities to re-rent your property?
  • How will you manage guests if they have an emergency? That is, who do they call if a pipe bursts in the middle of the night, etc.?

The list above is meant to help you think through some of the particulars that go with offering your property as a vacation rental but it is not meant to be comprehensive or all-inclusive. If you have questions about putting your property up as a rental, call Kory Samson at 800-828-4228 ext. 305 and learn more about Gateway’s Central Reservations Service and if listing your home as a vacation rental makes sense for you!