Preparing Your Vacation Home for Summer Renters

Renting your vacation home is a terrific way to help pay for its mortgage and upkeep. Successful part-time property-owners keep a dual perspective when renting out their summer home. Through decades of experience as NJ Vacation Home Insurance specialists, we’ve found profitable landlords employ these tips to create a rewarding experience for their guests.

It’s a helpful hint to borrow from the property-owners who take time to view their vacation home rental business as prospective renters and business owners. While in their heart and to their family, it may be a cherished home on the seacoast, keeping it profitable requires making most decisions from the business mindset. Using the renter’s perspective to filter decisions is beneficial because well thought investing in the user experience pays off.

Use These Questions to Guide Decisions:

• Can I rent the unit out long enough at a price that will make the venture profitable and worth losing the availability for personal use and the expense and time to make it ready and maintain it?
• If I saw this home online or visited it in person, would I want to stay there?
• As for paid guests, will the house and its amenities make their stay worth the price, and would they book a return visit if they have a chance?

Your Summer Home Is Now a Business

The point is to think about it as a business proposition. Then swing back to an open mind to visualize the experience for guests. Word-of-mouth and repeat business are coins of the realm in the summer rental business. You exercise considerable control over both depending on the ambiance and setting your renters feel.

Here are suggestions to help you create a rewarding business, from letting your vacation home to summer renters.

Stay Legal and Protect Your Assets

Short-term rental laws vary by location. Before you rent your vacation home, it’s essential to understand the rules in the area where you live. For example, if you’re a homeowners association member, they might have regulations restricting your ability to let out your house. Check to find if local or state laws apply to renting your property. Make sure you review your homeowners insurance policy to see if you’re covered while guests stay at your house.

You most likely need a landlord insurance policy to protect your rental property while it’s being rented out. Depending on the insurance carrier, some companies offer riders to their homeowners policies that can be added to them. However, obtaining a separate policy might be necessary if you want adequate coverage.

Landlord insurance typically covers property damage, liability, rental income loss, and other costs associated with owning a rental property. For example, when looking for landlord insurance, look for the policy that best suits your property with the help of your local NJ Vacation Home Insurance specialists.

Perform an Annual Deep Clean on Your Rental Home

Cleaning your house before hosting a guest is necessary for a sanitary and hospitable environment. Guests appreciate having everything clean when they arrive. A cleaning checklist can help ensure nothing gets forgotten. Deep cleaning is a chore often best suited for professionals. Build in the annual cost to your rental rates, and remember your family will enjoy the benefits of the service when they are in residence.

Make Your Home Livable and Inviting for Guests

Make sure your rental unit is well-equipped to accommodate guests and make them feel comfortable. Providing an exceptional experience is an incentive for getting top-notch reviews from guests on sites like Airbnb and Vrbo. It is also a key to repeat business. Here’s a starter checklist to meet your needs.

Checklist for Rental Homes:

• Fresh towels and linens with two sets of towels, hand towels, and washcloths for each guest
• Extra blankets and pillows
• Clean linens for pull-out beds
• Dishes, silverware, serving plates, and bowls are adequate for a house full of guests
• Microwave, coffee maker, potholders, teapot, toaster
• Pots and pans to cook a typical family dinner
• BBQ implements if your unit provides outdoor grilling
• Condiments and seasonings such as sugar, salt, and pepper
• Ironing board, iron, and hairdryer
• Hand soap, dishwasher tabs, dishwashing liquid, all-purpose cleaners, and disinfectant spray
• Toilet paper, paper towels, tissues, plastic trash bags, and extra light bulbs
• Fire extinguisher, first-aid kit, list of local emergency phone numbers, including how to reach you or your property manager
• Remotes for TVs and other devices
• Directions for internet access such as wi-fi guest password

The above list includes basic “must-have” items. To go the extra mile, consider these amenities to boost the enjoyment of your guests:

• Stock your refrigerator and cupboards with coffee, milk, juice, and cereal
• Board games, playing cards, Jenga kit, and more
• Beach towels and beach chairs
• Outdoor family game equipment for horseshoes, cornhole, croquet, or badminton
• Maps, brochures, and guidebooks to the local area
• Create a binder with listings of local restaurants and tourist attractions you recommend. Have your family members provide “Tips from Locals” on the most fun things they like to do.

Give the Details and House Rules

Please don’t leave it to your guests to figure out what to do. Instead, give them the correct number of instructions by providing precise and concise house rules. Writing down your rules will avoid confusion. Be specific about whether pets are allowed and how many people can stay overnight.

If you are not there to greet them, make sure your house guests will easily find your directions and house rules. Although mentioned above, we reiterate to leave contact information (email and telephone) if your guests need to contact you. Also, provide local emergency phone numbers, the address and phone number of the nearest hospital, and the number of the nearest fire station.

Maintain a Locked Owner’s Closet or Cabinets

Regardless of whether you plan to block off time for your visits or use it to invest in your property, you need a safe place on the premises to store personal items. Designate a locked storage closet or cabinet for storing tools, supplies, and things you don’t want visitors to access.

Use Keyless Entry or a Lockbox for Check-Ins

Most often, guests upon arrival are tired and weary from traveling, and as such, they are ready to relax. By making quick access to your vacation rental simple and easy, you set the tone for a good experience. Using a lockbox or a keyless entry system is the best solution.

A lockbox safely keeps the keys to the house, while a keyless entry system uses a simple code to unlock the front door. Either work to make for a painless and seamless check-in, which helps elevate the mood of your guests to start—first impressions matter. Easy access and a hospitable environment on the other side of the door help create the welcoming vibe you want to give.

Depersonalize the Unit

Guests want to feel at home when they stay in a vacation rental. By removing your family pictures and other personal items, you give them the chance to feel like they are staying in their vacation home. A warm, friendly blank canvas turns into a space your guests will enjoy and foster the emotions that lead to future bookings.

Many of our clients have second homes they rent in the summertime. We enjoy helping them make the most of their rental experience by offering our tips on managing the business and safeguarding their family, prized property, and investments.

About Dickstein Associates Agency

Dickstein Associates Agency has distinguished itself as a leading provider of personal and business insurance in the tri-state area since 1965. We pride ourselves on being advocates for our clients and providing them with quality and affordable coverages. As Trusted Choice™ independent insurance agency, we partner with various national and regional carriers, allowing for flexible coverage for each client’s unique circumstances. For more information on how you can leverage all your insurance to work best for you, and how we can secure the best insurance in the marketplace suited to your specific needs and business objectives, contact us today at (800) 862-6662 or www.dicksteininsurance.com.