I've been preparing to go oversees, and securing a short term rental property was one of the top items on the To-Do-List! However amidst the entire ordeal, because it became an ordeal at a certain point. I became not surprisingly faced with the fact that property owners and agents are not aware of the proceedings, and handling of a short term rental property. The market base of a traveler, versus a tenant is vast. So I wanted to share a few tips when it comes to renting what is usually a long term residence, to a short stay guest seasonally.
1. They are YOUR guest, NOT a tenant! Treat them as such by providing a service where they would want to return to your residence in the future. Just like a hotel!
2. Set a price, and be consistent. It's important to be consistent, and not yield to a market trend to yield the highest return, just because you feel like it.
3. Understand supply, and demand but use it fairly. A contract is a contract! If a guest requests to book your property well enough in advance of the demand, and you commit with a rental agreement. Stick with it! It's about the relationship, and trust the traveler places in you. TRUST means everything!!!
4. Check your documents, whether its a lease contract, rental agreement or whatever legally binding form of agreement. Do not present a document that is not applicable to the terms of a short stay. Meaning don't send a year long lease agreement, and ask a short stay guest to sign it.
5. The key is in amenities! Assure your property has the essentials to get your guests started on their stay. This includes amenity size bath soap, shampoo, conditioner, lotion, hand soap, dishwashing liquid, toilet paper, paper towel, and trash bags to name a few. For a more condensed VR property set up list you can visit www.mamchica.com