Some Landlords Prefer Vacationers to Long-Term Tenants

By E-Renter Tenant Screening
Posted on May 29, 2013 under Housing Trends | Be the First to Comment

Most landlords go the traditional route, with longer-term tenants who sign month-to-month, six-month or one-year leases. Keeping good tenants is the goal, but that is not always achievable. Turnover is sometimes the enemy, because it requires cleaning, repairs, advertising for new tenants, and vetting applicants.

But more landlords are seeking out vacationers who will rent their properties for a few days, a week or, if they’re lucky—a few months at the most.

Short-term vacation rentals are popping up in cities and towns that aren’t often thought of as vacation destinations, like Columbus, Ohio and Lincoln, Nebraska. Property owners advertise on sites like VRBO.com, where people searching for an alternative to hotels can easily find them.

For many travelers, a furnished apartment or home is a cozier alternative. If they have kids or pets, a vacation rental often works better than a hotel room. Families are renting homes in college towns for homecoming week or sporting events, or during the holidays to be near (but not with) family. Others are working in a town temporarily and need a place for a few months.

These property owners say that vacation rentals are ideal for their situation. They don’t want to deal with long-term renters, and they don’t mind the increased amount of paperwork and cleaning that comes with the territory. Besides, higher rents make up for it. Depending on location, vacation rentals can go for $100 – $500 per night and thousands per week.

One Columbus property owner rented her home for 140 nights at around $200 per night. Another focuses on weekend rentals, and is booked for around 45 weekends per year. The secret to success, they say, is hands-on management of the property.

If you’ve ever thought about renting your property as a vacation rental, check out sites like VRBO.com and HomeAway.com. Make sure you conduct background checks on renters, and ask other landlords about their experiences. It’s not for everyone, but the vacation rental business might be right for you!