Interested in Becoming a Vacation-Rental Owner? 2 Details to Consider That Can Affect Profits

26 August 2016
 Categories: Real Estate, Blog


Vacation rentals are a desirable alternative to hotels because with them people can stay in a house that is equipped with everything they are used to having in their own home. Lots of kitchen appliances, a backyard, and a driveway to park in are some of the things that guests can enjoy when staying at one of these places. Also, there are a number of vacation-rental websites with plenty of listings to make people feel safe about booking. If you want to buy a property that you can use as vacation lodging for others, you should make sure to take several details into consideration that will likely affect your overall profit.

Public-Transit Options

Many vacation rentals thrive in large cities because large cities are where most tourism in any state happens. This is also where you are going to find the most extensive public transit systems. New York City and Chicago are two cities that boast deep systems with the ability to get almost anywhere in the city. As long as you buy a property along the subway or rail system, most visitors will be able to get there from the airport with ease. This is perfect for when potential guests may not want to rent a car to travel around the city. So, being near public transportation will naturally increase the overall appeal of staying at your place. Although each guest costs money in cleaning and utilities, having a fully booked month is the best way to maximize profits.

University Proximity

Each year, students who are about to graduate high school will travel around the country to visit college campuses in hopes of finding one that they like enough to put in an application for. Universities provide admissions tours for anyone who is interested in getting educated at the school, and this is an excellent opportunity for vacation-rental owners to enjoy a busy few months during spring and summer. Spring break is a popular time for teenagers to visit with their parents to take a look shortly before they graduate high school. However, the start of June, when grade school gets out, is when you will see a huge influx of guests. Aiming for a property within walking distance of a university will have a huge impact on your profits.

Buying a home to live in is a lot different than buying a prospective vacation rental because your location will play such an important role in how well your investment will do. Paying attention to these two essential details will help you pick real estate that is bound to bring you great profits.