According to Visit Denver, there were 20.5 million overnight visitors to the city in 2023. They generated $8.8 billion in tourism spending for the year. As more people visit, renting your home to travelers could become an excellent source of revenue.
As you prepare your home for rent, make sure to apply these five vacation rental tips. Our home rental strategies can help you improve guest satisfaction rates.
Generating positive reviews will help you increase bookings. Improve your ROI with these renting dos and don'ts today!
1. Understand Renting Dos and Don'ts
Before marketing your property to potential guests, review local, state, and federal regulations. Some of these laws vary by county. They cover:
- Owner-occupied versus non-owner-occupied rentals
- Property zoning and compliance
- Necessary licensing
- Tax laws
- Guest safety procedures
- Proper insurance coverage
Obtain the proper licenses and permits. For legal assistance, consult a short-term property management company. Leverage their local experience and expertise to remain compliant and avoid fines.
2. Prepare the Home for Rent
Walk through the property to confirm it's ready for guests. Consider scheduling professional cleaning services between stays. Maintaining a clean short-term rental will help you make a strong first impression on guests.
Schedule regular maintenance to spot problems before they worsen. Have a list of reliable contractors on standby in case of emergencies.
Upgrade the property to make it more appealing to guests. You can increase the value of your short-term rental with:
- A pool or jacuzzi
- Streaming services
- Family-friendly games
- A porch swing
- Luxury grooming and beauty items
- Kitchen luxuries
- Smart home features
- A barbecue or grill
- Sports equipment
Offering additional amenities will help your listing stand out online. Don't forget to mention these upgrades within your online listing.
3. Market the Listing Online
Leverage digital marketing to direct travelers to your online listing. An optimized listing should include:
- An attention-grabbing headline
- Location-specific language
- Stunning photos and videos
- Your contact information
- A list of amenities and special features
- A call to action
Use search engine optimization, social media marketing, and paid advertising to direct people to your listing. Share eye-catching visuals to spark their interest.
4. Develop a Screening Process
Develop a robust screening process to ensure you find reliable guests. To save time and money, consider outsourcing.
A property management company can streamline this process. They'll ensure you adhere to fair housing laws and avoid discrimination.
5. Professional Vacation Rental Tips
For professional vacation rental tips, outsource to a short-term rental management company. They can attract travelers and protect your investment. A full-service company can handle:
- Coordinating bookings
- Overseeing cleaning
- Inspections and property maintenance
- Responding to inquiries
- Marketing
- Accounting
Choose a company that uses state-of-the-art technology to streamline processes. Their services can help you generate more revenue, minimize stress, and offer premiere guest experiences.
Start Renting Your Home to Travelers
Your Denver, CO rental property can become a great source of passive revenue. Apply these tips when renting your home to travelers. Remember, you can always ask for help.
Our team at PMI Denver Metro prioritizes owner satisfaction. We constantly find new technologies to help us remain ahead of the competition.
Trust our state-of-the-art technology, award-winning services, and professional guarantees. Contact us now for a free rental analysis!
