With its stunning desert scenery and diverse recreational opportunities, Arizona offers an unforgettable vacation experience. The state sees a large number of visitors throughout the year due to its year-round sun, unparalleled southwestern cuisine, and annual events such as baseball spring training!
Tourism this good has made the market for vacation homes skyrocket. That’s why so many property owners have turned their second homes into fully furnished rental properties with all the amenities. Whether they managed the rental themselves or with the help of a property management company, many Arizonans have even transformed their property rental into a lucrative business!
Of course, making money from your Arizona vacation rental property doesn’t happen overnight. The first step is to transform your property into a vacation home that’s welcoming to a variety of vacationers. Along the way, there are legal documents to sign, property inspections, and advertising/promoting your vacation home. As the owner, you must act as the property manager to coordinate rent payments from tenants, manage services and amenities, handle maintenance, and more. If you decide to go with a property management company, you’ll have help with most of this. Arizona property management companies assist with everything from property showings that will help you find potential tenants to monthly accounting and general management. More on property management services below.
Whether you use an Arizona property management company or not, the process of turning your property into a vacation home can seem overwhelming. But if you follow the steps listed below, you’ll have a guest-ready, profitable vacation rental quicker than you can say “Arizona!”
Paperwork and Legal Information for Vacation Rentals
Obtain a Rental License
Before you do anything, it’s important to start the application process of officially turning your home into a rental property. Visit the Arizona Department of Revenue website for information about business licenses for short-term lodging. You’ll need to apply for a short-term/vacation rental license through whatever city your property resides in.
Evaluate Your Home Insurance
It’s never a bad idea to take a look at your insurance before leasing Arizona vacation rentals. Renting your property in exchange for money is considered a business transaction and might not be covered by your homeowner’s policy. You’ll want a vacation rental management policy that covers everything from amenities to liability and possibly even an additional accidental damage policy for that added bit of protection.
Draft the House Rules and Rental Agreement
As a rental property owner, you’ll need to draft the house rules agreement and rental agreement contract. And if this is your first property, it’s a good idea to have a professional take a look at your contract. Professional agents will help you create an agreement that properly addresses things like theft and property damage. If you decide to hire an Arizona property management company, they can also help draft an agreement that works for you.
A Polished Rental Property is a Successful Rental Property
Before you rent out your home, it’s important to do a deep clean. This is especially important if your home is older or if it’s been lived in for a while. Deep cleaning your home isn’t just so it’s immaculate by the time guests arrive, it also allows you to see whether house renovations or upgrades are necessary.
Repair and Upgrade
Completing any property repairs or maintenance before you list your home can increase your return on investment. You might also consider upgrading parts of your home. Homes that feature an updated look are more likely to catch the eye of vacationers who search for rentals online.
Your personal items and valuables have no place in a home you’re renting out. Go through and remove any personal belongings such as technology, clothing, photo albums, or jewelry. Remember to look through drawers, cabinets, and all closets for anything you might have missed. Depersonalizing not only protects your stuff, it also helps your home give off that simple, neutral vibe you want when marketing vacation rentals.
Preparing for Guests
Once you’ve subtracted all personal artifacts it’s time to add some necessities! Guests will need basic household items including paper towels, toilet paper, and dish detergent, as well as cookware, utensils, etc. You’ll want backup supplies as well so keep in mind how many people your vacation rentals accommodate and buy accordingly.
Decorate and Stage
The right decorating and, more importantly, the right staging can wow any potential tenant during property showings while turning your vacation property into an inviting retreat guests will love. Staging experts from PrimeNest Arizona, for example, know how to design for comfort, style, and functionality while also creating designs that translate well through photographs. This ultimately attracts travelers and elevates guests’ experience towards a 5-star review. Be sure to add a touch of your own style in terms of furniture and decor while still heading towards that neutral, comfortable vibe that will keep visitors coming back again and again.
Create a Welcome Book
Create a welcome book that is front and center the moment visitors walk in. In it, be sure to include information about the property and its popular amenities, as well as info about security and storage, maintenance requests, and emergency contacts. We also recommend a page or two with tips and tricks for technology. (It’s always nice to have instructions on how to use the remote control.) You can also include concierge information such as nearby restaurants and attractions, whether it’s a list of charming downtown shops or the days and times of a local farmer’s market.
Securing the Safety of your Arizona Vacation home
It’s important to think about guest safety and the safety of the property when you’re not there. That’s why security solutions such as cameras, door sensors, alarm systems, and even motion sensors are highly recommended. And nowadays, since guests love a no-contact check-in, many homeowners have installed keypads that unlock the front door or garage with a code.
Arizona Property Management
The property management professionals at PrimeNest Arizona act as a middleman between you, the homeowner, and the renters. We specialize in the supervision of rental homes and the management of everything from bookings to property inspections, monthly accounting to maintenance requests. We can also help determine the best price, market your properties online, and handle cleaning between guests.
At PrimeNest Arizona, our property management team will do all of this and more to ensure the smooth running of your vacation rental business. Contact us for more information about our Arizona property management services.