Mar. 29, 2009

With the economy the way it is, I find more and more people pushing for their real estate investments or second homes to be liquidated into cash for immediate use. Nevertheless, most sellers, even in strong markets, are faced with the fact that not many real estate investors or second home buyers are as motivated as they where when they first purchased their property.

Most second homes and investment properties are in somewhat popular areas where visitors and tourist are an important factor of the local economy. I have been recommending to my clients and friends who are in need for the extra cash to convert their homes into rental properties where the income from short term rentals can offset a good portion of their mortgage payments and in some cases where the property is paid for in full, they should have a great monthly income from visitors who would rather stay in a clean home with their family instead of lodging in hotel rooms and resort condo-tels.

The most important thing to keep in mind when you are converting your second home to a vacation rental is to look at your home from the renter’s point of view and try to accommodate for their comfort. Below you will find very simple steps I have outlined that can help your home rise above other homes competing with your property as a vacation rental.

1. Upgrade any broken furniture or electronics.
2. Make sure that one master bedroom has a king sized bed. It is very important to many vacationers to have an oversized bed.
3. Stage your home for your visitors, you will be amazed at how many repeat customers you can get when your clients are happy staying at your home.
4. Make sure that your home is equipped with all the amenities vacationers look for such as: cable tv, good sound equipment, TVs, kitchenware, extra bedding, laundry detergents and any other item you may regard as important.

You should also think about advertising your property on website that feature vacation rental homes and condos such as VRBO.com and I really recommend that you research your market area using google or yahoo by searching for your town vacation homes or your town vacation rentals and finding a high ranking website in your area where you can list or advertise your property. Dealing with VRBO or any other major network can be less profitable due to the fact that they feature thousands of properties in your sate and your property will not have as good of an exposure as it would if you advertise with someone local with great search engine placement in your area.