It is common for investors to focus on purchasing rental properties that can be used on a year-round basis; however, vacation rental properties may be something worth considering for an additional source of income. There are a few differences to recognize when renting out vacation properties as opposed to regular residential space, however. Many vacation renters have specific amenities that they want, so making sure you purchase a desirable vacation rental property is important.

If you talk to any real estate agent or broker about any type of property, you will hear one thing over and over: location matters! Anyone looking for a vacation rental is usually looking for a very specific area or geographical region for their vacation. Most vacationers want a setting that is very relaxing and safe, yet has plenty of recreational opportunities that are convenient.

Family friendly vacation rentals are very popular. This means that the furnishings need to be sturdy yet comfortable, and you should limit the amount of breakable or fragile items that are in the unit. Locations that are convenient to family activities, such as beaches, pools, playgrounds, amusement parks or other recreational sites are often preferred.

When you ask for affordable rental prices for your vacation property, you can increase the amount of time per year that your property is rented out. Vacationers are always looking for affordable deals. When you offer amenities such as privacy, good location, good views, stocked kitchen and bed linens, you will find that you attract many renters and more high quality clientele looking to find a place suitable for relaxation. Make the place even more homey by storing a few games, movies or books for your renters to enjoy during their stay.

People will opt for vacation homes to rent rather than hotels when they want to relax and have plenty of space. Families with children or extended families who wish to vacation together will usually choose a vacation home over a hotel. Make your property attractive to these populations and you will find vacation rental properties can be an excellent source of revenue.

Consider catering to groups who are planning weddings or family reunions. Having a location where the families can gather, whether it is a nearby park or a large backyard, can make the property perfect for these increasingly popular events.

Another consideration is making your vacation property pet-friendly. More and more pet owners are looking to find vacations that they can take their pet along on. While you may be somewhat hesitant to agree to having renters bring their pets because of the potential for damage, you are at a distinct advantage because very few hotels allow pets at all. Charging a higher rate or requiring a larger security deposit can protect you from losses while making your property more attractive. Simple changes, such as tile or hardwood floors instead of carpets can make this an easy choice. Fencing makes it irresistible to renters with pets! For assistance, contact a Michigan property management company.