Start-up: Short Term Vacation Rental Properties 101

Do you have the opportunity or advantage to offer a house or room as a rental to fellow travelers?  If yes, then let the adventure begin! Here’s some pointers to help you decide if you’re up for the challenge. If you follow the below guidelines, you’re likely to improve your rental ratings as well.

Rental Platform

TCB clients mainly use Air BnB exclusively, (as long as they are getting bookings) because it is very user friendly for guest & hosts; and they are still able ventured in other platforms. Airbnb has a function to coordinate calendars with other platforms & with other Airbnb listings that is a great feature for communicating with TCB’s clients.  Whichever platform you choose, please make sure to have a good computer with anti-virus, vpn, with a password vault with different & long passwords for each website platforms you may choose. Having a smart phone with your chosen platforms’ app with the notifications on will allow you to respond swiftly in getting your next booking.

Cancellation Policy 

TCB recommends a mild to strict policy; to not only guarantee strong bookings, but also these policies do not leave your property unused if the guest cancel. You may lose opportunity from other bookings, if there is no cancellation policy.

Instant Booking

The Instant Booking is a nice feature, but has it has its downfalls if you are living and renting from the same property.  The Instant Book is great for properties that are strictly for renting. If you happen to be renting out a room in your home, TCB would not recommend Instant Booking unless you are very prompted with the turn arounds; as guest may book on the same day leaving you with very little preparation time for their stay.

Property's Profit

There will be a start up cost to get your property looking tip top for guests & will become less stressful over time.  Keep rates low until you get a good number of reviews, then after a few months you can slowly increase Friday & Saturday night rates. Try Airbnb’s “Smart Pricing” function, especially when just starting out. Get the reviews rolling in and the money will follow.

Quick Tips

  • Find the best Rental Platform for you.

  • Save time & deploy delegation to manage the property.

  • Professional photos capturing charm with descriptive title & features in your online ad.

  • Flexible Check-in & Check-out times.

  • Low Rates = High Bookings = Reviews

Contact TCB for further inquiries and management services