According to Columbia SC Tourism, visitation to the region increased from 15.1 million to 15.8 million within a year. Overnight visitation increased from 5.4 million to 5.7 million. As more people visit the area, you can generate a better home rental profit.
There's a lot you'll need to do before renting your home to travelers, however. Otherwise, your rental property may not appeal to incoming tourists.
Not sure where to start? Read on for our professional short-term rental tips to ensure you maximize your profitability!
Research the Rental Market in Columbia, SC
Before applying these Columbia property management tips, research the local market. Start by reviewing the area's vacation rental laws. These regulations cover:
- Safety
- Parking
- House manuals
- Sanitation
- Overgrowth
- Motor vehicles/amenities
The City of Columbia requires short-term rental hosts to get a STR permit. Get approval before you rent out the property. Review tax laws and insurance coverage requirements.
If you need help navigating local, state, and federal laws, consult a property management company. Their professional expertise will help you remain compliant, reducing the likelihood of lawsuits or fines.
Consider Traveler Accommodation Trends
During this research stage, compare your vacation rental to others in Columbia. Offering additional amenities can help you appeal to a broader target audience. Increase the rental's value with:
- Sports equipment
- Smart home technology
- A pool or jacuzzi
- A grill or barbecue
- Kitchen luxuries
- Luxury grooming or beauty products
- A porch swing
- Family-friend board games/video games
Complete a walkthrough of the property to confirm no areas are in disrepair. Schedule regular inspections and complete maintenance tasks promptly. Neglecting the property could deter future guests or lead to negative reviews.
Schedule cleanings between guests. A spotless, stunning rental will ensure you make a strong impression, leading to higher satisfaction rates. Gaining positive reviews can lead to repeat stays or increased bookings.
Market the Listing Online
Reach potential guests by marketing your listing online. The listing should include:
- Location-specific keywords
- An appealing headline
- Detailed descriptions
- A list of amenities/special features
- Your rental rate
- A call to action
Use paid advertising and social media marketing to direct more people to the listing. Generating more online visibility can lead to more bookings.
Develop a Screening Process
Establish a guest screening process before allowing bookings. You can avoid guests who may damage the property or pay late.
Consider outsourcing this task to a property management company. Their professional tools will save you time and ensure you find reliable guests.
Request Columbia Property Management
Instead of applying these short-term rental tips alone, outsource. Partner with a professional Columbia property management company to generate more bookings. They can help with:
- Booking coordination
- Accounting
- Marketing
- Guest screening
- Responding to inquiries
They'll respond promptly to guests, leading to higher satisfaction rates and reviews. With their professional services, you can generate more bookings to increase your home rental profit.
Begin Renting Your Home to Travelers
Renting your home to travelers can seem daunting if you don't have a plan. Use these short-term rental tips to maximize your profitability. With these strategies, you can start generating revenue in no time.
Remember, you can save time and money by relying on professional services. Trust our team at PMI Palmetto. Our award-winning services, state-of-the-art technology, and guarantees can ensure your success. Contact us now for a free rental analysis.
