By Katie Conroy kconroy@advicemine.com

Did you know that the vacation rental business is booming? If you’ve been looking to get started in real estate or investing, this is your sign. Today, The Reasonable Realtor shares some essential tips and resources to get you started.

Research

There is a lot of work to do before it’s time to get booking guests! Here’s where to start:

Local market: The regional market will determine your success, so identify a target market and research your competition thoroughly.
Create a business plan: This will help you research and detail all elements of your business so you have a vision of your marketing, goals, and finances.
Location: Pick a neighborhood that is a good draw for tourists but not too expensive locally.

Invest

Your vacation rental is ultimately an investment. Here are some ways to level up on your rental business game:

Quality furnishings: Your property should feel comfortable and inviting through quality furniture, bedding, and decor.
Time and money-saving resources: A quality CRM software and invoicing tool can help you save lots of time and money.
Cleaning services: Hiring a professional cleaning service can help take some of the work off your plate and ensure that your property is always looking its best.

Promote

The last step in your real estate journey is to promote your rental. To get the word out, here’s what you need to do:

Rental platforms: Online platforms like Airbnb and Vrbo are great tools to run your business more efficiently with online listings.
Social media: Use social media platforms to increase brand awareness and exposure so more guests know where and how to reach you.
Business cards: Don’t neglect old-fashioned, tactile advertising, as well! If you’re looking for a versatile but free option, give this a try!
Property photos: Professional-looking photographs of your property can go a long way in securing more bookings – follow these tips to get good pictures of your space.

Ready to get started on your very own vacation rental business? Stay organized with all the resources and tips mentioned above, and you should be well on your way to real estate success in no time.

The Reasonable Realtor provides tips & pointers to help you buy, sell, and take care of your house and SAVE MONEY doing it! Questions? Feel free to email don@thereasonablerealtor.com.

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