We live in one of the most beautiful (the best if you ask me) areas in the country, and because of this, people from all over the world make it their destination vacation. With an estimated 11,000+ vacation rentals in San Diego alone, it has become an opportunity for investors or homeowners to make some extra cash. If you’re looking to get into this for yourself, you might be wondering what makes a good rental property? Well, see my top recommendations below to get you started.
1. Location is king
This is no surprise here, and just like all real estate - location is king. Look for an area that is close to attractions, or has easy access to getting there. Things closer to the water are obviously more expensive to purchase, so perhaps consider areas that have great restaurants, a park, or other offerings that might entice someone who is visiting from out of town.
2. Unique is better
My friends once stayed in a tree house where they had to swing on a rope to get there. Now, that may be slightly extreme, but having a space that is slightly out of the ordinary will differentiate your listing from the others. Finding something that you can’t get on the regular will help it book consistently.
3. Offer more than the others
This is a simple addition that you can do yourself with little to no cost that can certainly go the extra mile. Have complimentary food, coffee, shampoo + conditioner, strong wifi, nice sheets, etc. This will leave your guests happy, leading to great reviews, repeat and referral business.
4. Look at the competition
What are the homes in your area going for and why? What are they offering that you’re not? Get ideas on how to outdo the competition by figuring out how you can provide a better experience.
5. Promote creatively
Beyond just Airbnb and VRBO, where else can you promote your place? Could you give it a name and create an Instagram page showcasing fun things to do in the area and guests who have stayed their before? Have fun with this, and by doing so, it will bring in more potential vacationers.