Did you know that Gilbert, AZ, is often described as one of US Tourim's hidden gems? It was voted the 6th best place to raise a family in the US by WalletHub! It's a fantastic town for a hiking and golfing holiday, which is great news for anyone with property in Gilbert.
Turning your property into a vacation rental property, even just while you aren't using it, is a winning way to make an extra income! Learn how to make a success of this exciting prospect in this short guide.
Market and Price Your Vacation Rental Property Well
Marketing is a critical element for vacation rental success. Let the public know that your property is attractive and available first by establishing an online presence. To do this, you'll need:
- Well-staged photos of the property
- At least one social media platform that's relevant to the market (e.g., Instagram and Facebook)
- A vacation property management partnership
Working with a property management company can have numerous benefits for your vacation rental income. They'll have a trusted website for online listings and a ready pool of potential tenants. They can also help you with vacation pricing and manage the property if you're away on your own vacation, on a work trip, or otherwise engaged.
Deliver an Excellent Guest Experience and Collect Great Reviews
Giving your guests the best possible experience starts with providing a well-maintained, clean property that lives up to its attractive listing. Guests will likely not return and leave bad reviews if the rental doesn't fulfill expectations.
Giving people a personalized and friendly experience almost guarantees guest satisfaction. Ensure that you approach your communications with short-term tenants in a way that they can appreciate. When guests see you more as a host than a landlord, they're far more likely to return for more.
You can incentivize repeat bookings with a loyalty discount policy and referral bonuses. It's also a good idea to encourage guests to leave reviews during their holidays. The feedback can help in a few ways:
- You get to look for possible improvements from your guests' perspectives
- Good reviews will drive more business to you
Be Aware of Tax and Zoning Laws
Since you'll be running a short-term rental business, you'll need to make sure that you comply with the rules regulating these types of businesses. As of the time of writing, Arizona has no law restricting short-term rentals in any of its municipalities. However, this could change at any time, and an HOA (if there is one) can still restrict the allowance of short-term rentals.
For these reasons, it's best to consistently be aware of the rules and look out for changes. You'll also need a transaction privilege tax license to run the business.
Making Short-Term Rental Management Easy
If you want to maximize rental profits from your vacation rental property, you'll need to market the place well, set the right price, and show guests an unforgettable good time. This can feel like a lot in the beginning, which is why we're here to help.
At PMI Salt River, our team makes sure that every property on our roster is in good condition and stays profitable. We combine timeless property management expertise with innovative solutions to give property owners stress-free service. Contact us today for excellent short-term rental management.
