Whether you are outfitting a place from scratch or putting the finishing touches on an existing home, these tips will help you create a desirable rental property without breaking the bank. Harnessing your internal interior designer can be the most enjoyable part of setting up a rental property.
About 60% of your potential income comes from the intrinsic value of your property, location, and amenities. The other 40% is dependent upon an effective Airbnb pricing strategy. Here you will learn methods to better assess the demand for your place throughout the year and how to adjust your prices accordingly.
When the vacation property is set up and the bookings are starting to roll in, the primary goal is to separate your time from your income stream. Here we dissect each time sucking aspect of managing a rental unit and see how we can eliminate nearly every minute of actual work.
When the money starts rolling you need to start thinking about protecting your little cash cow. Smart finance decisions will mean the difference between huge profits and huge headaches. Get organized early around accounting, insurance, and taxes.