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How to run a vacation rental successfully

Verona


With its sunny streets, upscale lifestyle attractions, and inviting surrounding shorelines, Verona Walk and its neighboring Naples communities are irresistible to vacation-goers looking for some southern Florida fun and sun.
Homeowners here have a great opportunity to turn a profit by listing their properties for rent. Here’s how:

  1. Get a business permit

    Now that you’ve decided to turn your home into a vacation rental, secure the applicable business permit. In Florida, there are three kinds of licenses which cover the following rentals:

    • Single-family homes
    • Units in an entire building
    • Units in buildings found in separate locations.

    Securing your license also means complying with mandated requirements, which cover everything from the cleanliness, safety, and physical condition of your rental, down to the state of the linens, cutlery, and baby cribs you provide.

  2. Put yourself in your customers’ shoes

    The key to “selling” your home as a vacation rental is understanding what your potential customers need and want. Note that while the essentials (hot showers, basic toiletries, and so on) should be automatic considerations, extras like Wi-Fi access, coffee, cable TV, and recreational accessories like beach balls and umbrellas can boost the attractiveness of your rental.
    Adopting a renter’s mindset also helps you anticipate their needs before they even realize it. Dig into your own vacation memories and try to recall the provisions that you requested and/or appreciated. Subtle touches like these add a personal “I have your back” feel to your service that your renter will surely remember.

  3. Invest in security and insurance
    Protect both your renters and your property by investing in a reliable home security system. Guests will view this as a reassuring feature. At the same time, it will serve to deter potential mischief from occurring in your home.
    Insurance, meanwhile, is a must. While the renter’s security deposit may be enough to pay for things like broken glasses and plates, as well as stained upholstery and the like, you need insurance to cover significant damage like burns. Your coverage can also protect you against liability claims such as injuries a renter may sustain during their stay.
  4. Apply a fair screening process
    Property owners have the right to screen potential guests. However, federal law prohibits restrictions based on race, religion, nationality, marital status, and disability or handicap. You can reasonably restrict bringing pets, smoking, and holding parties inside the unit, however.

    Be careful about denying families with young children. If you feel that your unit’s fixtures are not safe or suitable for small kids, you can encourage families to look for other rental options.

    Establish the suitability of your rental for adults, kids, or both in your listings and advertisements so that interested customers will know what to expect early on. Mention this again, along with your rental conditions, when you meet with prospective occupants or talk to them over the phone.

  5. Pay attention to reviews

    The secret to keeping up with the demands of the market is to listen to what people are saying about you on Yelp and Trip Advisor. Respond politely to comments, whether good or bad. Take these as an opportunity to improve your service, as well as your rental’s features and amenities.

    Reach out to guests who have opted out of commenting. Thank them for their patronage. Solicit their feedback, and ask if you can use their positive comments on your website, social accounts, or listings.

  6. Turn to an experienced real estate professional

    You don’t have to do all the heavy lifting when you run a vacation rental. Our team at Verona Walk Realty will make sure all your needs are covered – from listing, to screening, to maintenance. Our years of experience serving the Naples real estate market, extensive network of community services and amenities, and expert knowledge of the local lifestyle are sure to match your property with the best rental deals. List your home for rent with Verona Walk Realty today.