Tourists took over 84 billion trips to Colorado in 2021. It's big business! So, if you have a home in Steamboat Springs, you might be looking to rent it out for some extra cash while you take a trip of your own.
Are you thinking about listing your home for rent? Read on for everything you need to do in Steamboat Springs.
Learn About The Law
To get started, familiarize yourself with local laws and regulations related to renting out your home. Check zoning requirements, occupancy limits, and any permits or licenses you may need to obtain for short-term rentals.
Steamboat Springs has its own specific rules, including limiting the areas where short-term rentals are permitted. If you're confused, talk to a professional about what you need to get done.
You should also make sure your home is protected from damage. Regular homeowner's insurance may not provide adequate coverage for vacation rental hosting.
Consider obtaining a specialized short-term rental insurance policy that covers liabilities and potential damages related to short-term guests.
Consider Your Property Management Options
Property management can be tricky when you're doing it yourself, especially when you're renting out your own home.
If you have the time, resources, and willingness to handle all aspects of managing your short-term rental, self-management can be a viable option.
This approach allows you to have complete control over your property, from setting the rental rates to handling guest inquiries, bookings, check-ins, and check-outs. However, keep in mind that self-management requires significant time and effort.
Or, you can look into vacation home and short-term rental management companies. They can handle various aspects of your rental, including marketing, guest services, and maintenance. These companies often have established networks and experience in the local rental market.
Get The Word Out
Next, you'll need to figure out how to list your home for rent. Choose a listing platform that suits your needs. Popular options include vacation rental websites, as well as rental platforms like Zillow or Craigslist.
If you're working with a property management company, they can help you with this step. They can get your property listed on different vacation rental websites and even post it on their own site.
They can also curate where you're listing your property based on how long you plan to rent your property at a time, whether it's just for a few days or for months at a time.
With the different platforms in mind, create a compelling listing. Write a detailed description of your home, showcasing its unique features and amenities.
Include attractive photos and provide accurate details about the property, along with any rules or restrictions for renters.
Maintain Your Property
Once you have short-term renters coming in and out, maintenance becomes key. That way, you'll ensure it remains in excellent condition for future renters.
Respond promptly to repair requests and address any issues that may arise during a tenancy.
Listing Your Home for Rent in Steamboat Springs: Start Today
Listing your home for rent can seem complicated, but with this guide, you'll be able to pull it off. Start going through the steps, and you'll be making rental income in no time.
Are you interested in listing your home as a short-term rental? Contact PMI Steamboat for all the help you need.