Whether you are traveling for business or taking a trip for leisure, it can cause your home to be vacant during your journey. This is especially true if you live alone or make the voyage with your whole family.
In such cases, your home stays empty and without supervision. Unless you hire a housesitter, this may also cause security risks and pose threats of financial loss. But hiring someone to watch your house only adds to your travel expense, and often racks up a pretty large bill against extensive trips.
On the other hand, renting out your property stands out as a better solution. It not only gives constant supervision to your home, but also provides you with consistent income while you are away.
To see how you can benefit from this mechanism, here’s how to rent out your property while traveling.
Make the Announcement
In order to attract potential tenants to your property, you actually need to make the announcement regarding its availability. But you don’t have to put out a formal notice to do so. Instead, you can simply put up a listing on platforms such as Airbnb for interested renters to find your offering.
Airbnbs are considered supportive for homeowners and provide them with supplementary income. As a result, the chances of people preferring your home over a hotel are quite significant in today’s day and age. Just make sure to price your home properly and take care of its maintenance through a third-party, and you can rest assured that it will find a tenant soon.
Do Credit Checks on Renters
Don’t want to rent your property for just a few days a week? You can find long-term renters who may want to lease it for the whole duration of your trip. By reaching out to the right platforms, you can find such tenants without having to wait a long time.
You can then gauge the financial status and reliability of these tenants by running a credit and background check. This provides you with the assurance that you are not handing off your property to highly unreliable individuals who may damage it in your absence.
Hire a Property Manager
Since you will not be physically available on-site, it would be a great decision to hire a property manager on a temporary basis. These professionals can use their specialised experience to take care of your real estate asset, while also dealing with its maintenance in your absence.
From deploying customer service to using a home repair toolkit, these experts can do it all. Whether you have the qualities that make for a great boss or not, property managers can help you find ideal tenants while also ensuring that they enjoy their stay throughout the period of your trip.
Reach Out to Realtors
Similar to typical misconceptions about traveling, it’s common to see misunderstandings about temporary rentals. One of these misbeliefs comes forth in the form of how you cannot rent your property through a regular realtor. The actual truth? You can find optimal renting opportunities by reaching out to specialised real estate agents.
This makes sure that you are able to connect with ideal tenants without having to be physically present in your area. A wall hanging here, a stunning succulent there, and these realtors can increase the chances of putting your property on rent. You can then remotely move forward with related processes to finalise the lease agreement.
Make Quick Enhancements
When hiring a property manager or a realtor doesn’t do the trick, you may need to make some quick enhancements to your property to make it stand out of the crowd. This can include quick architectural improvements. But in many cases, basic amenities such as adding a coffee maker actually make the difference for temporary tenants.
You can make these improvements with the help of your hired management team, who can then market these features along with your listing. If you carry out these measures before your departure, you can finalise your lease agreement before you even start your trip.
By looking into these measures, you can easily rent out your property while taking a trip. This makes sure that your property generates some revenue in your absence while also remaining safe.