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The short-term accommodation industry is booming. According to a Phocuswright study , one in three travelers opted for a vacation rental last year versus just one in 10 in 2010. That means it’s a great time to put your second home to work.
Here Are 4 Tips to Turn Your Prescott Home into a Profitable Vacation Rental
1. Acquire the necessary permits.
Before you can start renting out your vacation home, you have to obtain the correct licenses and permits for your state, county, and city. The timeline for this varies by municipality; in Panama City Beach, the permitting process takes one week, while Woodstock, Vt., takes up to six weeks.
2. Prepare the home for guests.
3. Gather photos and write a compelling description.
4. Allow time for reviews.