Blog

Buying an Investment Property Here How You Can Maximize Your Rental Revenue

Jun 27, 2023 | Uncategorized

Share The Post :
Whether you’re buying a ski-in/ski-out condo at your favorite resort or you’re thinking of picking up a small home in a busy tourist area, buying a property for short-term rental purposes can be an excellent investment that quickly begins to provide additional revenue. Let’s take a quick look at a few steps that you can take to maximize the revenue that your investment properties bring in each month.

Upgrade Your Home to Give It a Luxurious Feel

It should go without saying that if you want your home to rent for a high price it has to have a significant amount of value behind it. After you purchase the home, spend some time on upgrades that help to enhance the home’s beauty and usability. If possible each sofa should be a sofa-bed so that additional guests can stay the night. Upgrade the televisions, have Wi-Fi internet access available and provide a phone number that guests can call if anything goes awry.

Professional Photos and Copywriting

If you’re renting your property out to short-term or vacationing tenants you’re most likely going to use online services like VRBO, HomeAway or AirBnB to attract new business. While these sites have a lot of visitor traffic you’re also going to face a high level of competition from other property owners in the area. It’s worth paying a professional photographer to take pictures of your home as well as having a professional copywriter handle the sales copy for your listing. These are one-time costs that can help you to defeat your competition and close high-ticket clients.

Cater to Large Groups or a Niche Crowd

There are a number of “niche” travelers out there and if you can cater to these groups you’ll find that you’re able to charge more than the average vacation property. For example, you may be buying a home in a popular wedding destination that can be marketed to couples who are being married. If you’re buying a larger 3 or 4 bedroom home, be sure to note that it can house large groups who may be traveling together.

Referrals and Repeat Business

Finally, don’t forget to ask your clients to refer you to their friends and family who many want to stay in your unit, and always invite them to return in the future. You may want to consider offering a discount to repeat visitors to encourage them to visit annually.

Renting out your vacation home or investment property can provide a lucrative income stream as long as you have a professional approach and focus on providing a high level of customer service.

If you are considering selling your home, be sure to contact us at (512) 549-2332 or email us at info@simplified-rei.com so we can provide you with a Fair Cash Offer on your Austin house.

Want To Get A Cash Offer On Your Austin house?

Please fill out the quick form below, and we will be in touch with you shortly!

  • By submitting this form and signing up for texts, you consent to receive email marketing and text messages from Sell Your House Simply at the number provided, including messages sent by autodialer. Consent is not a condition of purchase. Msg & data rates may apply. Unsubscribe at any time by replying STOP or clicking the unsubscribe link (where available)
  • This field is for validation purposes and should be left unchanged.

Listing vs. Selling To Us

Which route is quicker?
Puts more cash in your pocket?
Has less hassle?

See The Difference Here

Get a Cash Offer Now

Submit your info below, and we'll get in touch right away to discuss your offer

  • By submitting this form and signing up for texts, you consent to receive email marketing and text messages from Sell Your House Simply at the number provided, including messages sent by autodialer. Consent is not a condition of purchase. Msg & data rates may apply. Unsubscribe at any time by replying STOP or clicking the unsubscribe link (where available)
  • This field is for validation purposes and should be left unchanged.

Recent Testimonial

  • Mark S.

    Working with William was super easy - They bought our house quickly and we got to set our closing date, with no fees!

  • Jack & Pam

    Working with William couldn't have been easier. They made a tough decision easy and I'm glad we found them!

  • Sarah C.

    “… I didn’t know what to do.” When I got a notice of foreclosure, I didn’t know what to do. William explained the process of foreclosure and how they could help and I was surprised to learn what my options were. They worked with me, and my bank, and were ultimately were able to avoid my foreclosure.