Investment Property
Investing in vacation rentals? Here’s where to get the most bang for your buck
For people who own an investment property in Arizona and California as well as Mexico are particularly braced to be successful in the vacation rental market.
Mexico is fast becoming an even more popular travel destination than ever, according to recent statistics that show it’s now the sixth most visited country in the world. Reports show that tourism spending in Arizona amounted to 22.7 billion dollars of Revenue in 2017, an encouraging upward bounce of 7% from the year before. California has always consistently drawn large numbers of both domestic and international tourists. Its tourism dollars show no signs of slowing either. Visitors there spent 126.3 billion in 2016. Mexico is home to Cancun and Acapulco. California has Disney and Hollywood. Arizona has the famous Painted Desert as well as numerous other legendary sites to be seen, so it should be no mystery as to why visitors flock there. World travel is on an uptick in general in the new global era.
Why do renters like homes instead of hotels?
A growing number of travelers are looking to have local experiences. They want to try everyday neighborhood food as opposed to only reserve tables at high end restaurants. They enjoy staying in traditional neighborhoods in the areas they travel to. They also realize that staying in private homes can be much more comfortable and dynamic than modular hotel rooms.
How does a homeowner benefit from the rise in vacationers who like to rent?
Placing listings, cleaning, providing clean linen as well as meeting and greeting are just some of the responsibilities required, but they can become overwhelming if you’re renting your home at the rate that you want to in order to turn an attractive profit. Handling the myriad of responsibilities that come with renting out units to vacationers can gradually become demanding in spite of travelers having new tastes that seem relaxed and casual. Many guests seek the intimacy of a home rental instead of a hotel but still expect similar services. A couple arriving from out of town may need to arrive at hours at which you’re asleep. After a series of guests stay in a home, it’s common that plumbing, electrical and locksmith repairs are needed because those who prefer to stay in homes than hotels do so for longer periods. Paint has to be touched up. Carpet must be cleaned. Although guests who rent homes like to cook and be independent, many will prefer being offered perks such as coffee and danish in the morning the same as they would in a more formal hotel setting. House cleaning is an intensive task after one guest has left and you’re preparing for the next. Linens and blankets have to be laundered. Keeping up the pace to be a successful vacation renter is really almost impossible without 24-hour professional support that can resolve vacation rental issues that arise quickly.
How do you make renting your home a successful business?
Homeowners who rent often focus on providing accommodations that are visually appealing and comfortable while overlooking the functionality and convenience those temporarily residing in them also need. Installing a keypad on the door eliminates the need to have a physical key by allowing guests to enter and exit with just a simple password. Decide what rates will earn you the most while still keeping your rental competitive. Remember to meticulously track expenditures and profit. You need good accounting software.
What services does Casago provide to vacation property renters?
Casago offers all of the above and more, customizing support to best serve the needs of each client. The greatest benefit of working with Casago is the vast experience it offers to those who rent their homes on a temporary basis in order to make the most out of an investment property. There’s a learning curve to turning the home you own into a desirable vacation rental. If you promote your property via popular sites that allow photos and descriptions of vacation rentals to be posted, you may realize that simply reading reviews from other hosts isn’t always the most effective way to vet someone interested in staying in a home you’ve invested so much in beautifying. Casago does background checks if necessary. It offers advertising and promotional expertise that puts your rentals in front of the most desirable guests. It coordinates the wide spectrum of services necessary such as pool cleaning and gardening that keep your property attractive and well maintained. Being on site at the time each of your guests check-in and check out isn’t always possible. Casago takes care of that for you. Renting to vacationers is not the most intuitive skill if you’ve never done it in the past. The team at Casago is familiar with all the moving parts that make it easiest and most satisfying to guests.
Make the most satisfying returns on property you’re considering buying
Just as having a summer home began to seem like a luxury of the past, it’s become something easier than ever to afford. Property management in Mexico, California and Florida are three smart investment moves to consider right now. You can occupy a home for only a couple of months and earn substantial investment income from your investment property the rest of the year as long as you have the right support.
The difference that renting your property by getting expert advice and help makes
A growing number of sites and travel search engines give investment property owners the means to advertise and promote their homes to vacationers looking for comfortable rentals that offer pleasures such as full kitchens where they can cook their own meals. Meeting their expectations is rarely as hands off as it seems. Vacationers so casual can still be extraordinarily selective. Being able to take fantastic photos that capture the quality of your rental is important to consider. Describing it in a way that captures what makes it stand apart from others takes skill and creativity. The Casago team provides the full gamut of property management services you need with ease and incredible efficiency. Most reassuring of all, it has an A+ rating from the Better Business Bureau.
