Over the last few years, more and more people have made their way to the Sunshine State. In 2022, Florida saw over 137 million tourists.
These tourists make their way to cities like Tampa Bay and just further south of that, beach towns like Sarasota.
If you are someone that owns a vacation home in a beach town like Sarasota, you may have considered renting out your house to those tourists. This guide explains how to go about renting a home out to people on vacation.
Know the Local Laws
The first thing you need to do is find out what local laws you have to follow for vacation rentals. For example, in Florida, you are likely going to have to apply for a permit and get approved for that permit before you start renting your property out to tourists.
Then, you need to think about maximum occupancy laws. For example, Florida may not look too kindly on 10 people staying in a one-bedroom apartment for their vacation. This can disrupt a residential neighborhood, so you need to make sure you are following these types of laws.
There will also likely be building codes you have to meet and property inspections that have to be conducted. The latter will likely happen randomly, so prepare for it to happen at any time.
If you hire anybody to help look after the property, you may have to do things like report their salary as well as conduct a background check if they are going to interact with guests. Look closely at these laws before jumping into short-term rentals.
Marketing Your Property
To increase your occupancy rate, you will have to market your property properly. This means using as many vacation rental platforms as possible such as Airbnb. You can also promote this on social media platforms like Facebook to talk to tourists more directly about lodging.
Regardless of which platform you end up using, you will want to have professional photos taken of your property. Professional photographers likely have better camera equipment, know what angles of your house to shoot, and know what lighting makes your house look good.
About 83% of people believe pictures are important when deciding what properties they want to visit. So, make sure you put your best foot forward and offer people good pictures of your property.
Start Renting Out Your House
Renting out your house can be a great way to earn some passive income from a real estate investment. This is especially the case in a beach town like Sarasota where people want to enjoy good weather and relax.
Make sure you are aware of all of the vacation rental laws that Sarasota has before opening up your home to guests. Also, make sure you market your property well to maximize your results.
If you need help with the latter, you should work with a property management company. Message us here to see how we can help.