Your vacation home is likely our pride and joy. While renting it out during peak seasons can give you a hefty additional income, it may be difficult to do so during the off season. While summer is just around the corner, you might be considering renting out your vacation home before the crowds set in so you can enjoy it yourself during the summer. In order to ensure the right clientele and a nice profit, consider the following tips. In addition, don’t forget to protect your property with the best NJ Vacation Home Insurance available.
Lower the price.
Peak season prices vary significantly from off season prices. Even though summer is next month, you might be missing out on a great stream of income for those looking to take a vacation before prices increase. Remember, you are competing with hotels and resorts during this time, so price your home accordingly.
Change the minimum stay requirements.
During peak season, it’s common for vacation owners to require a week-long stay. However, change the minimum days to 3 or 4 during the off season to attract more clientele. This way, those looking to escape for a long weekend will be likely to choose your home over a competing hotel in your area.
Increase the advertising.
Though you may be tempted to cut back on advertising when there’s less money coming in from your rental properties, the slow season is the time to ramp marketing efforts up, says Bankrate. Elaborate on the amenities your home has that are fitting for the season such as a hot tub and fireplace for winter or a pool for spring.
At Tri-State Insurance Agency, we want to ensure to protection of your valuable investments. Our comprehensive vacation home policy provides you peace of mind and protects all of your assets at competitive rates. For more information, contact us today at (888) 990-0526.