What are the drawbacks of owning a vacation rental ?
What does it take to get a vacation home on a rental program ?
16 Beach L i fe Coastal Living Vacation Rental
You have to divorce yourself from the notion of it being your personal home year-round . Once the home is booked by a guest , it is dedicated to their use for that period of time . They have paid to have exclusive use , and we are committed to providing them with a luxury experience .
On a related note : If you are looking to maximize returns on your property , there will be long stretches of time when the home is unavailable to you — especially during high season . On the Emerald Coast and Forgotten Coast , high season is June , July , and much of August . Spring Break is also incredibly busy . If you want use of the home during this time period , it ’ s best to block it off well in advance . By doing so , however , you ’ ll forfeit that potential income .
You must also reinvest in this income-earning asset . Why ? To avoid diminishing future returns . Improvements need to be made to keep up with trends and the ever-shifting tastes of the traveling public .
You need to find the management company that ’ s right for you and your home . Vacation rental companies tend to specialize in a specific caliber of property , and you want to find a company that ’ s all about yours . We have three brands : Callista , which focuses on mid-size luxury homes and condos ; 360 Blue , which is for larger luxury homes ; and our Alaya Collection , which is made up of the finest luxury homes on the entire Emerald Coast .
Once you ’ ve found the right company , you need to keep in mind that there are start-up costs for things like a KABA lock for access control , new linens , and housewares . You will also need property photos for marketing purposes . Typically , these costs can be a negotiating point when considering which company to go with .
What portion of the year will a vacation home rental be booked ?
Most owners can expect their home to book anywhere from 24 to 30 weeks per year — or right around half . This of course is dependent on the home ’ s pricing and its amenities . Does it have a private pool ? What ’ s its proximity to the beach ?
What about décor ?
Bear in mind that you are looking to appeal to an audience whose preferences and tastes you may not share . When it comes to décor , you may need to strike a balance between what potential guests want and what you want in a vacation home .
It ’ s also important to stay current with the latest design trends . Coastal contemporary is the prevailing aesthetic here on the Emerald Coast , but like all trends , it continually evolves .
What ’ s the one investment I can make to maximize my return ?
This one is easy : A private pool . They are expensive , but guests love them .
How often can owners use their own rental property ?
There really are no homeowner restrictions on homeowner use . That said , there are high-demand periods during which you will be leaving significant revenue on the table if you choose to use it at these times .