San Francisco is one of the hottest tourist destinations on the West Coast.
2022 alone saw nearly 22 million visitors come through San Francisco. If you're a Bay Area property owner, you can always use another way to make a bit of extra cash to handle the ever-increasing cost of living. What better way to do this than turning your home into a vacation rental?
Here, we'll give you a quick guide on how to rent your home for vacations. Keep reading and before you know it, your home will be helping you earn extra income hand over foot.
Understand Vacation Property Laws
In San Francisco, you must be a permanent resident of the city to rent out your home to vacationers. A permanent resident lives in San Francisco for 275 nights per year. If you spend any fewer nights in the city, you cannot rent out your home.
Make Your Home More Renter Friendly
With that out of the way, you can start to make your home more renter-friendly. Vacation renters don't want to stay in a home that has the homeowner's personal touches, so it's best to de-personalize your home before you list it. It's also a good idea to protect your valuables by keeping them in a safe.
Make sure that it's always well-maintained and clean so that guests never have any issues. The guest experience is the most important thing when renting out your home. Offer whatever amenities you can to make them feel more comfortable, such as WiFi, laundry, and countertop appliances.
Marketing Your Home
The next step is to list your home on all relevant vacation rental platforms. When creating your listing, the two things you must prioritize are professional photographs and a detailed description.
Your photos should showcase your home in the best light. The description should tell the renter everything they need to know about the home while highlighting the perks of the local area, like shopping, restaurants, and cafes.
Pricing Your Rental
To properly price your vacation rental for maximum ROI, it's best to use a sliding scale. Do a bit of research on the local vacation rental market and figure out when the hottest and coldest times are for tourism.
During the busiest times of the year, look at what other similar vacation rentals are charging per night. Offer competitive rates and you'll see more bookings, then do the same during slower months, lowering your rental rates to compensate.
Guest Services
When guests are in your unit, make sure that your guest services are on point. Make the check-in/check-out process simple, then be available for any guest questions or concerns.
If you can't be available because you've left town during your guests' stay, it can be helpful to hire a property manager to be present for them.
Learning How to Rent Your Home for Vacations
Use these tips for how to rent your home for vacations and you'll maximize your rental income right away. If you want the money involved with a vacation rental without any of the work, it might be best to look into short-term property management.
PMI SF Peninsula is one of the Bay Area's top vacation rental managers. To learn what we can do to turn your home into a successful vacation rental, please contact us today.
