| Time is money, especially when you are talking | | | | - Plan a budget for expenses. |
| about downtime at a vacation rental. Even if you | | | | - Research applicable taxes in your area |
| purchased a turnkey rental that is ready for | | | | - Find, learn and use a basic accounting program. |
| guests, bringing a property onto the rental market | | | | Marketing & Advertising |
| takes work. Before your first renter comes | | | | - Stage and take professional-quality pictures of |
| through the door, you will need to make | | | | the rental, inside and out. |
| important operational decisions for the | | | | - Consider building your own vacation rental |
| management of your vacation rental business. | | | | website. |
| And on top of getting the place ready, there's a | | | | Create marketing text. |
| laundry list of other tasks that need to be | | | | - List on vacation rental sites. |
| completed before you can start renting. | | | | - Research other online marketing methods. |
| Pick the Right Time to Make Changes | | | | - Advertise the property offline to reach your |
| The best time to make major changes is before | | | | targeted market. |
| you've started renting or in the vacancy of the | | | | Management & Legalities |
| slow season. Use this time to do renovations, | | | | - Develop the policies and procedures you will |
| deep cleaning, major improvements, and amenity | | | | follow with your property. |
| and design changes. Getting the dust-inducing | | | | - Set your rates. |
| construction out of the way before starting a | | | | - Draw up legal documents such as rental |
| rental schedule will make life easier in the long run, | | | | contract and deposit form. |
| and you will be able to fetch top dollar for new | | | | - Seek legal advice on contract and other legally |
| features and amenities. | | | | binding documents. |
| If you can't do it all before peak season, prioritize | | | | - Research and retain appropriate vacation rental |
| based on what will keep your guests happy | | | | insurance. |
| (safety, cleanliness), and you protected (insurance, | | | | - Get proper licenses and permits. |
| permits, taxes). | | | | - Decide how to maintain rental records and |
| Getting the Rental on the Market Checklist | | | | handle bookkeeping for tax purposes. |
| Cosmetics & Construction | | | | - Determine a rental scheduling process and set |
| - Perform construction and updates to make the | | | | up a master availability calendar. |
| house a better rental. | | | | - Establish how "family and friend time" will be |
| - Upgrade appliances, if needed. | | | | handled at your rental. |
| - Add new amenities. | | | | Guest Services |
| - Deep clean the entire home including windows | | | | - Stock the home with necessities; like toiletries, |
| and carpeting. | | | | paper goods, and cleaning supplies. |
| - Paint the ceilings and walls with fresh paint in | | | | - Create welcome packet. |
| neutral colors. | | | | - Make a "Guest Information Binder" of local |
| Furnish the rental appropriately. | | | | attractions, menus, maps and information. |
| - Decorate the home using a theme and color | | | | - Create an emergency contact sheet. |
| scheme as a guide. | | | | Conclusion |
| - Landscape and create "curb appeal" | | | | The tasks necessary to get a new vacation |
| - Perform a security and safety evaluation. | | | | property up and running may sometimes feel |
| Rental Turnover & Day-to-Day Maintenance | | | | never-ending. The foresight to anticipate problems, |
| - Interview and hire cleaning staff. | | | | and plan for them in advance, is the difference |
| - Interview and hire maintenance people. | | | | between a smooth start in rental vacation |
| - Establish a backup plan for cleaning and | | | | property and a rocky one. Planning ahead and |
| maintenance emergencies. | | | | being prepared will make being a new vacation |
| Financial Planning | | | | rental owner more enjoyable. |