short-term rental
Want to add a second property to your investment portfolio? There are a few things that you will want to know. Since you already own a rental home or building, you already understand some of the basics. However, there are a few crucial steps to take on that secondary investment. From determining your spending to managing other expenses, make sure to consider these facts before buying your second investment [...]
During the pandemic, people have realized how convenient it is to work from home and enjoy having the freedom to travel but still work. The digital nomad has changed the way many short-term rental owners operate their home because now they’re renting for mid-term stays and have created a comfortable workspace for their guests. Remote work is becoming increasingly popular in the rental industry and it’s not looking to go away anytime soon. Operating as a mid-term rental can increase the risk of acquiring a “squatter”, it’s important to [...]
You might have a guest house or other outbuilding on your property that is pretty much going to waste. Have you ever considered converting it and renting it out for short-term stays? It is a great way to bring in some extra income and become engaged with the emergent short-term rentals industry. Companies like Airbnb, TripAdvisor, and Vrbo have capitalized on the gig economy to help homeowners profit from [...]
Whether you’re a new rental property owner or have been in the game for a long time, there are always new things to learn and progress that can be made. It’s important to regularly check in on your short-term rental (STR) properties and see if you are really getting all you can from them. There may be some opportunity to change things up and begin to see more income. [...]
There’s no doubt that rental properties are a hot commodity. As great as this is for today’s investors, the reality is that there will always be a demand for rentals, regardless of trends. Even with rental homes in high demand, you can’t assume that just any property will be profitable. An empty property doesn’t turn a profit, which is why it’s crucial to attract good tenants and guests, not to [...]
Every vacation rental owner understands how important it is to make their property stand out. Not only do you have to offer great amenities in order to maximize revenue, but you also need to make sure they are up to par each time you are having guests. This checklist will help you ensure the safety and security of your vacation rental: Ac, heating, and kitchen appliances Bedrooms Bathrooms Smoke [...]
Did you purchase a new home intending to use it primarily on Airbnb and occasionally for personal use? As a new short-term rental host, you may believe that your homeowner’s insurance is sufficient since you’ll be living there part-time. This is a common misconception as many hosts, even veteran hosts, don’t realize that modifying the use of your vacation rental beyond strictly personal use requires some major modifications to [...]
With travel traffic still in high gear, now is a great time to make a game plan for the future of your short-term rental business. As the industry continues to recover, a great way to grow your business and increase bookings is to hire a professional property manager. As they promote your property and handle guest relations, that leaves you with the pleasure of designing your home as a [...]
By Justin Ford Safety continues to be a growing concern in the short-term vacation rental industry. With exponential growth over the last 20 years, and more professional managers and hosts entering the market, the more you adhere to safety standards in your short-term rental the less opportunity for negligence on your part. What can you do to ensure your vacation rental is safe for guests? Luckily, amending your rental [...]
The Team at Proper Insurance is happy to present an overview of a recent interview between Darren Pettyjohn, Co-Owner of Proper Insurance and host Scott on “The Invited Guest” by Private Porch. Scott and Darren discuss why hosts should verify their short-term rental insurance, the response to COVID-19 from property management companies and customers, and staying positive - the short-term rental industry will recover from this unique time. Listen [...]
