Considering Turning Your Home Into A Short-Term Rental?
So you’re kickin’ around the idea of renting your home on Airbnb or VRBO?
Before packing your bag and dreaming of a stash of cash, here are a few questions to ask and things to consider. The more you know, the better!
1. Will you need a special permit? Are there short-term occupancy rules or licensing requirements in your city?
2. How will renting affect your property taxes or homeowners insurance?
3. Which platform is best for your type of listing? Airbnb or some else?
4. If listing your primary residence, do you have a reliable place to stay when renters book? Are you willing to take on the inconvenience of cleaning and packing up every time you get a booking?
5. Can your cover initial costs (extra sheets, towels, first aid kit, smoke detectors, etc.) and ongoing costs (soap, toilet paper, cleaning supplies, etc.)?
If you’ve done the research and are ready to generate some rental income, give me a call or send me a message. The short-term market is booming, and I’d love to help!