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PARK CITY REAL ESTATE

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7 Tips to List Your Home as a Short-Term Rental

January 24, 2023 by Jensen & Company

park city short term rental

Short-term rental is one of the most lucrative businesses currently. Many homeowners are taking advantage of people traveling once again, and post-COVID, people are focused on different experiences when traveling. More and more people are turning to short-term rentals for remote work experiences and a change of scenery. If you have considered listing your home as a short-term rental, there are some things you do need to consider. 

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What is a Short-Term Rental?

A short-term rental is when you lease a property for 12 months or less. Some homeowners will rent them weekly, monthly, and even nightly. Most people refer to short-term rentals as vacation rentals. 

Are Short-Term Rentals Lucrative?

Many people have found short-term rentals to be one of the most effective ways to earn money. Real estate investing has always been popular, but the short-term rental world offers multiple benefits including:

  • Earn more income – Using your home to generate income is an ideal way to supplement your income.
  • Improved home maintenance – A short-term rental does mean you will invest in your home more, which prevents serious problems by catching them early on in the maintenance phase. 
  • Tax benefits – There are a handful of tax benefits including deductions for home maintenance, marketing, management, and more. 

Cons of Short-Term Rentals?

While short-term rentals provide a number of benefits, there are some disadvantages to consider including:

  • Maintenance costs – Offering your home as a short-term rental does require more maintenance costs such as housekeeping, utility costs, entertainment costs (offering streaming television, etc), yard maintenance, and more. 
  • Time commitment – If you are planning to maintain your rental property without a landlord, expect to commit a great deal of time to manage your property. 
  • Reviews – One way to guarantee you keep people booking your property is to spend time offering great service. Encourage guests to leave reviews so your property has a great deal of value to potential renters. Rentals live and die on reviews, so you must always respond to reviews, good and bad. 

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Getting Started With Short-Term Rentals

If you are ready to get started with short-term rentals, here are seven tips to get started:

  1. Research local regulations. Prior to listing your home as a short-term rental, you must research local laws and regulations according to your city or county in which the property is located. 
  2. Get licensed. Certain locations require licenses in order to list a short-term rental. Local municipalities will have certain licensing and certifications you must obtain to list and maintain an Airbnb property. 
  3. Price it right. Research other properties around to determine the right price for your luxury home rental. Offering discounts for more extended stays are common in the short-term rental world and should be considered when developing a pricing structure.
  4. Promote your listing. It is important to get the word out there to start getting rentals. VRBO, Airbnb, Vacasa, and HomeAway are some of the best websites to start when listing your new rental.
  5. Secure your home. Keep your property safe by protecting your home with surveillance cameras and keyless entry locks. It’s also a good idea to have closets that lock or personal belongings in a secure location. 
  6. Screen your guests. To keep your property and neighborhood safe, screen your tenants. You need to obtain certain personal information to provide security to your home. 
  7. Provide extra services. If you want to increase your income, consider add-ons that could increase the value of your home. Airport transfers and amenities like gyms, hot tubs, and pools are great ways to entice guests to stay at your short-term rental.

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Contact Jensen and Company

When it comes to buying or selling your luxury property, Jensen and Company can help. Our expert team is here to help you get top dollar for your rental property. Contact our Park City real estate team to learn more about leasing your property as a short-term rental.

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About Jensen and Company

Brad Jensen has been a top realtor since 1988. In 2021, he was invited to join the prestigious International Luxury Alliance. The Alliance is an elite network of real estate professionals from key markets in the U.S. and abroad. Creating unique opportunities for his clientele to acquire some of the most sought-after real estate in the world. He is one of the most respected agents in Utah and would be happy to assist you in selling your home or buying a new home. It is Jensen and Company's goal to help make your real estate transaction as easy and stress-free as possible. Our blog has lots of great information and market intelligence to help you learn more about the Park City real estate market. Please contact us if you have any questions. We would be happy to assist you.

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ftel Call : 435.901.8333

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  • About
    ▼
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    • Our Videos
    • Contact Us
    • Blog
  • Search
    ▼
    • Significant Sales
      ▼
      • Luxury Mountain Living
    • Featured Properties
    • Property Search
    • Most Recent Properties
  • Park City
    ▼
    • Buy in Park City, Utah
    • Sell in Park City, Utah
    • Park City Homes & Condos For Sale
    • Park City Real Estate
  • Deer Valley
    ▼
    • All Deer Valley Real Estate
    • Deer Valley Homes & Condos For Sale
  • Communities
    ▼
    • Old Town
    • Thaynes Canyon
    • Lower Deer Valley
    • Deer Crest
    • Upper Deer Valley
    • Empire Pass
    • Aerie
    • Prospector
    • Park Meadows
    • Canyons Village & Colony
    • Sun Peak | Bear Hollow
    • Silver Springs
    • Old Ranch Road
    • Kimball Junction
    • Pinebrook
    • Summit Park
    • Jeremy Ranch
    • Glenwild | Silver Creek
    • Trailside Park
    • Promontory Area
    • Jordanelle Area
    • Midway | Charleston
    • Heber City
    • Kamas & Marion
    • Huntsville – SnowBasin
    • Red Ledges
  • Buy
    ▼
    • Deer Valley Real Estate
    • Park City Homes & Condos For Sale
    • Park City Real Estate
    • Deer Valley Homes & Condos For Sale
  • Sell
    ▼
    • Why Sell With Us
  • Discover
    ▼
    • Park City Events Calendar
    • Featured Attractions
    • Local Ski Resorts
    • Park City Local Vendors
    • Our Infographics/Resources