What you need to know about running a vacation rental property
- Jan 3, 2018 | MyLodgeTax
If you’re thinking about listing your property on a vacation rental site like Airbnb — or you’ve already made the leap — you’re not alone. According to a recent study, the global vacation rental market is expected to grow more than 7 percent a year and be worth $194 billion by 2021.
Short-term vacation-rental operation is a growing industry that can offer significant financial rewards to owners. And sites like Airbnb, HomeAway, and VRBO have made it safe and simple for hosts who want to offer their spaces and for guests who want to stay there.
However, running a vacation rental is still a business, and there’s a lot to know in order to get it right. There’s much more to success than just listing your property online and waiting for the money to roll in. Licensing and registration at the state and local levels are just a couple of the responsibilities most hosts should be knowledgable of.
We created The Vacation Rental Property Owner’s Guidebook to help you get started with your vacation rental home. This free guide offers in-depth advice on what to do in order to make a success of your vacation rental. It covers the big questions you might have about running a vacation rental — as well as the questions you might not even know to ask.
The guide offers best practices and tips on many facets of running a short-term vacation rental business, including:
- The rewards and responsibilities of vacation-rental hosting
- What you need to know about the local legal landscape
- How to make your listing shine
- What it takes to manage a rental day to day
- The myths and realities about licensing and permits
- The ins and outs of lodging taxes
The short-term vacation rental industry offers a lot of opportunity for hosts. But in a growing, competitive market, knowledge and planning go a long way toward helping you realize your goals for your vacation-rental business. Get your free guide today and get on your way to getting the most out of your rental.