Every year, almost 3 billion people go on vacation. Due to the price of hotel rooms, many of these vacationers look for alternative accommodations. It's for this reason that Airbnb and vacation homes are so popular.
If you choose the right type of rental in Memphis, you can attract renters during the tourist season. Once you buy a home, you'll need to do an inspection and prepare it for guests.
We have a few home sharing tips that will walk you through the process. Continue reading to learn more.
Choose the Right Type of Rental
Memphis is known for Graceland, music, and live theater. These are three things that you can play on when marketing your short-term rental.
Center the theme of the vacation home around these aspects. You'll be more likely to attract guests than homes that aren't themed.
Schedule an Inspection
Before renting out your Memphis home, you need to make sure that it's immaculate. Schedule a safety inspection. A professional will take a walk around your home and point out anything that needs immediate repairs.
The contractor that performs your inspection will also make you aware of any small issues so you can have them fixed before they turn into larger problems in the future.
After the initial inspection, decide on a regular schedule to keep up with maintenance. This will ensure that your rental home stays up to standard throughout the year.
Prepare for Guests
Your guests will want to feel safe and relaxed during their stay at your rental. That means designing your rooms with comfort in mind. Cozy furniture and easy-going paint colors will go a long way.
If you don't feel comfortable with designing the space yourself, talk to a short-term management company. They'll help you with the staging process.
Stock your rental with everything your guests will need during their stay. This includes towels, fresh sheets, Wi-Fi, dishes, a coffee maker, and lighting.
Take Pictures
When it comes to choosing Memphis vacation rentals, guests will judge a book by its cover. You'll need to take beautiful, high-quality pictures to bring people in.
Take photos of the interior and exterior from all different angles. This is something else that a management company could help you with.
Price Your Rental
Pricing your rental can be tricky. If the cost is too high, you won't attract many guests. If it's too low, you won't make enough of a profit from it.
It's recommended to research the price of similar vacation homes in your area. Use that as a guideline to decide on a cost for yours.
Home Sharing Tips That Will Help You Rent Out Your Memphis Home
Renting out your Memphis home to vacationers can yield profitable results. To attract guests, you'll have to choose the right price for your rental and post plenty of pictures of it online. There's also the matter of getting it ready for guests and staging it.
At PMI Property Management, we can help guide you through these Memphis home sharing tips. Contact us to learn more about our services.
