Vacation rental is becoming more and more popular and you might want to take advantage of it yourself either to travel or rent your apartment. This article will focus on the second. We intend to give you some tips on how to effectively rent your apartment as a hotel alternative.
Check out local laws:
We recommend to check your local laws. You do not want your property to be transformed into an illegal hotel. Look for short-term tax laws and know that the money you will earn from the rental is usually taxable.
Find the right price:
You could be tempted to over price it, but you then run the risk of never actually renting your apartment. Then again underestimating your apartments value is not a solution either. Do some homework and find out the market price of your area. The prices change a lot in regard to the location and also seasonally. You can also slightly increase your price in high season periods like Christmas and offer discounts in low season.
Set some rules:![3 final]()
It’s always a good idea to have rules in your apartment like, no smoking, no pets and no more than six persons. All of these rules have to be clear and in writing. Being open about them will avoid misunderstandings with your guests.
Promote your property: ![4 bis b]()
Travellers are not going to fall from the sky. You need to be present on different platforms and be careful of the material you post on each of them. Ideally you need try to advertise on social networks and rental websites. By posting beautiful pictures of your apartment and its rooms you give your visitors an idea of what your apartment looks like and they are able to visualise themselves visiting it.
Be clear and upfront:
Be clear and upfront about what you are offering and what you are not. Do not hesitate to detail everything up to the number of bath towels available. The more details you give the more your potential guest will trust your offer, and it also helps to avoid bad surprises for them and bad reviews for you.
Be careful of the decoration:
This point is tricky. In the end it is really up to you, but we recommend a few things. It is nice to have an original atmosphere and a unique decoration as it brings cachet; however, keep in mind that people have to be able to feel at home in your apartment. Try to think about that when you decorate. Your guests have to feel cozy in their rental.
We hope that this advice will be helpful. Do not hesitate to send us your questions if you are interested in our help to rent your property at: info@avenuestory.com. If you want to take a look at these two properties, it may give you an idea of your apartment rental potential.
