What makes a good vacation rental property?
You’ve found a place you like to go back to year after year, and you have started thinking about how wonderful it would be to have a place of your own, fully stocked; all you would need to do is a pack a suitcase and hit the road at vacation time. And then you start thinking about what you would do with the home for the remaining 50 weeks of the year…should you just leave it sitting there? It’s a little far away to use it as a weekend home, not really practical as a summer home – who has an entire summer off anymore? And that’s when it hits you – why not let the home pay for itself?
You can stay there a couple of weeks out of the year, but if you get a property manager you can rent it out the remaining times; it may just become a money making prospect as well as your summer getaway! The only remaining question is what makes your vacation home purchase a viable vacation rental property? Read further to find out if your Panama City Beach home fits the bill!
Location, location, location
Yes, when deciding on purchasing a home as a vacation rental the first and possibly most important consideration is how great its location is. Obviously, if you are considering the Panama City Beach area, your potential rental has passed the first test; PCB is a premier vacation home location. A key tip, however, is to visit the area in the off season. Does the town close its doors after the last summer visitor has left? Do stores, restaurants, and cultural centers close their doors early leaving nothing of interest open?
Panama City Beach has addressed those issues and has started holding festivals during the off season, making it a year round vacation destination, a fact that any decent property management company would keep you apprised of. Owning a vacation rental home in a year-round destination spot means little or no unrented days throughout the year!
Decor, design and curb appeal
Vacations can be expensive, and vacationers want more than just the basics from the home they rent. Clean, spacious, and beautifully decorated rooms with high end appliances garner higher rental rates – it’s that simple. Extra sleeping spaces for larger gatherings are a plus as well; if you’re not using a decorator; invest in some home design magazines for ideas. Bunk beds forming the walls of hallways, daybeds in the living area – we’ve even seen a single bed that pops out of a leather ottoman. Fully stocked chef’s kitchens with granite countertops create an atmosphere where cooking is fun, and if the vacationer makes their own meals, they spend less on eating out and can afford a more lavish home.
Curb appeal can’t be overlooked either; who wants to spend their vacation in a home that looks like it came straight out of a vampire movie? Lush landscaping with neatly trimmed plants, trees, and bushes create an open and inviting look – no need to keep a wooden stake on you for killing vamps!
Invest in a good vacation rental property management company – Panama City Beach Luxury Properties is a great one – all the best vacation rentals are run by professional property management companies. Even though it seems to be an added expense, their knowledge and skills keep you from having to do the dirty work, and in the long run they can save you more than you originally understood! Let the property manager do all the work while you reap the benefits – simple enough?