Make your income property home or rental property unique, make it stand out. What's something you can add to your vacation home property that will attract renters?
Add that extra feature that pulls in the renters and keeps them coming back. This doesn't just apply to vacation rentals but any kind of income property. Sometimes you need to do that extra bit to rent, lease, or sell a property.
Think abou the region your property is located in, and what those tenants would need. Would an elevator in your building dramatically increase the number of tenants, or elderly tenants that live in your building, say if the property is in a retirement community.
Is your buidling near a college, would free Internet access greatly increase the cache of your building. Learn more below and think about how it applies to your situation:
In an increasingly crowded vacation rental market, high-speed Internet access, plasma televisions, and even 500-thread-count Egyptian cotton sheets can help distinguish a home and bring in renters. “It’s a marketing tactic,” Ms. Karpinski said, “but it could be just the feature that pushes someone to your listing over, say, the 50 other condos that are just like yours.”
Beyond offering search criteria like number of bedrooms or distance to the beach, many vacation rental Web sites now have more search options to narrow down a potential renter’s search. Properties listed on HomeAway.com , a vacation rental site, offers search options that indicate the presence of extras like a washing machine or cable TV, while VRBO.com, a for-rent-by-owner Web site, allows rentals to be searched by keywords. This makes it easier to find a house, say, within walking distance of a beach, with a stereo dock for a portable music player as well as a well-stocked wine refrigerator.
Extra: You’re allowed to take depreciation from a vacation home if you live in it for 14 days or less.