How to Find the Best Short Term Vacation Rentals for Sale

More people now choose to enjoy vacations and invest their money by owning a holiday home. With more homeowners seeking ways to rent your house while on holiday, renting your property can be a great way to make money. If you’re looking for a cozy place by the beach or in the mountains, a short-term vacation rental can help pay for your trip and may even bring in extra income.

To be successful, you need to choose best place for short term rentals that suits your aims and daily life. Different places have different rental demand and legal rules, so you should do your research before buying. We’ll guide you through what you need to keep in mind to pick the perfect short-term vacation rental for sale that benefits you.

Here’s How to Find the Best Short Term Vacation Rentals for Sale

1. Define Your Goals and Budget

Decide what you want to use the rental for before you begin looking. Will you need your home to provide a lot of rental income, serve as a place for you to stay once in a while or a bit of both? Figuring out your goal makes it easier to decide how much to invest. Remember to plan for the cost of the house, plus any renovations, furniture and marketing you’ll need. Taking time to plan ahead means you won’t have to deal with expensive surprises later on.

2. Choose the Right Location

The success of a vacation rental depends greatly on its location. Find places that draw a regular stream of tourists, are easy to get to and have higher demand during certain times of year. Study destinations that are starting to get more popular for tourism, especially those that have affordable properties. Avoid locations where you cannot stay for a short period. Places with easy access to beaches, parks or cultural areas tend to do better. Before you move, try to learn the rental situation in the area by talking to locals and property owners.

3. Research Local Laws and Regulations

Rules for short-term rentals are not the same everywhere. There are rules for some that state you can only rent out a place a set number of times per year or you may have to get a business license. Be sure to check the rules for zoning, HOA and taxes before you make an offer. It’s wise to learn about the laws early to avoid problems and make sure your rental is up to code. Getting advice from a local real estate attorney is a good idea.

4. Work with Experienced Professionals

Getting the best team together can help you achieve much more. Specialists in vacation rentals know what both buyers and tourists want. They can guide you with useful advice, introduce you to the best performing properties and handle the legal work for you. It is wise to hire either a property manager or vacation rental consultant who can manage your rental and estimate the returns following the deal.

5. Analyze Rental Income Potential

Don’t let the looks of a property fool you, think about its ability to make money first. You can compare rentals close by on Airbnb or Vrbo. Check how full their properties are, how much they charge at night and what reviews say about them. Calculate your rent potential using online tools and get advice from local property managers. Your goal should be to have your rental income cover costs and make a profit whether it’s a high or low season.

6. Understand the Seasonality

Some places make good money at certain times of the year such as ski towns in the winter and beach spots in the summer. Try to avoid properties that won’t draw in income for much of the year unless that’s your goal. Pick places that people visit all year or that have special activities in their off-seasons. By knowing the seasonality, you can manage your hopes, set the right prices and maintain regular bookings which helps your investment stay steady all year.

7. Estimate Ongoing Expenses

In addition to buying the property, owning a vacation rental means you have ongoing expenses to deal with. Keep in mind that you will have to cover the costs of cleaning, maintenance, utilities, insurance, management and property taxes. They can easily increase which can affect your profitability. Draw up a budget that covers all your expenses and try to save a little extra for any sudden maintenance or months when your rentals are slow. Monitoring your operating expenses will help you handle your property better and prevent any cash flow problems.

8. Try Before You Buy

Try to spend some days or weeks living in the area before making a purchase. You will get to experience the hotel the way a guest would which helps you understand their perspective. You can also find out more about the area, roads, services and the businesses there. A little extra care can have a big impact on your property decision and can boost your reviews and rental business.

Final Thoughts

Looking for the ideal short-term vacation rental to buy doesn’t have to be stressful. If you have clear goals, do proper research and plan well, you can find a property that is profitable and enjoyable for you. By figuring out your ideal spot and learning about the rental market there, you come closer to owning a successful holiday home.

If you’re considering renting out your vacation home or buying a new place for renting, make sure to thoroughly research before you make any decisions. If you are planning a long-term investment or just need to rent your house while on holiday, finding the best place for short term rentals can help you succeed.