5 Tips to Change Your Long-Term Rental into a Short-Term Rental

Owning a long-term vacation rental can certainly be a sustainable endeavor, but if you want to take your business to the next level of success, changing your long-term rental into a short-term rental may be worth your while. Whether you’re simply ready to move away from long leases or you want to see the profitable potential that comes with inviting short-term guests to book stays when you own a property in a popular travel destination, the move could be both an exciting and successful one. 

5 Tips to Change Your Long-Term Rental into a Short-Term Rental

For many property owners who decide to change a long-term rental into a short-term rental, the benefits are vast and varied. Short-term rentals often come with less interruption to cash flow thanks to more immediate payouts for stays. This is opposed to long-term leases where tenants missing payments at any point could put you in a difficult place financially for months on end afterward. Transitioning a long-term rental to a short-term rental also gives property owners more agency over the booking calendar. You’re free to fill up the occupancy list, or you can block off days on shorter notice and utilize the home for yourself if needed. These days, perhaps more than ever before, short-term rentals see property owners bringing in more income than long-term rentals, specifically during high travel and tourism seasons. A short-term rental might also save you money in the long run, as it typically endures less wear and tear compared to a long-term rental and often undergoes more frequent professional cleanings. When you’re ready to make the switch, the following are five tips to help you change your long-term rental into a short-term rental with ease. 

1. Update and Improve Your Rental Home Amenities

Taking time to do a full evaluation of your long-term rental that you want to transition into a short-term rental is always worth your time. A short-term rental needs to appeal to a wider variety of guests year-round and that means it’s worth investing in home upgrades and improvements that will elevate the overall guest experience no matter when travelers arrive. Some of the essentials to be sure you have in place include quality furnishings including comfortable sofas and beds as well as dining room tables and chairs paired with eye-catching décor throughout the home. You’ll want to be sure that the kitchen is equipped with plenty of counter space and appliances as well as utensils, dishes, and cooking essentials to make your guests’ stay that much more inviting and convenient. Bathrooms should be set up with fresh towels and toiletries while entertainment systems to make sure you have on hand include large flatscreen and smart televisions, as well as dependable Wi-Fi. It’s always a good idea to stock up your short-term rental with books and games and don’t overlook the importance of outdoor entertainment areas like furnished patios and decks either! Having a guest information book available for visitors upon arrival is a nice and welcoming touch. This type of book should include any wi-fi passwords they might need during their stay as well as specifics on home appliances, where they can access extra linens, and recommendations on local events, restaurants, attractions, and more.  

2. Get a Property Facelift in Place

After doing a home evaluation, you might begin to realize that your property could use a major face lift when it comes to home renovations and projects before it’s ready to hit the market as a short-term rental. That’s where a team like the professionals at Dune Vacation Rentals can help. We proudly offer renovation and project management services when you find your property could use anything from simple repairs to full renovations before guests begin to arrive. We can handle flooring replacement and house painting as well as pool installation, or adding fireplaces, decks, and fire pits to your property for added curb appeal. When you need carpentry, AV projects, or landscaping done, we’re here to help make it happen. We also take care of HVAC repair and replacement, tile and grout work, irrigation services, and electrical projects too.  

3. Line Up a Property Management Team That Specializes in Short-Term Rentals

Running a successful short-term vacation rental business can quickly get overwhelming, which is why we recommend reaching out to a management team like ours at Dune Vacation Rentals when you want to make sure the important details are in place and handled at all times. Our property management team has a seamless and comprehensive approach to taking care of your short-term rental home and we know how to help you reach a wider audience of prospective guests year-round too. We’ll manage everything from home walkthroughs and staging for photos to masterful marketing, guest services, home maintenance schedules and housekeeping as well. That means you can rest easy knowing your property is in the good hands of experts who have your best interests in mind and are here to provide guests with exceptional stays. 

4. Take Time to Understand Your Market

Advertising your rental property on a short-term market is very different from how you might list a long-term rental. The audiences you’re trying to reach are inevitably different, and the turnover time is quicker. That’s why it’s important to take time to really understand your new marketplace before you put your listing. Pricing your short-term rental right is key to success in a competitive marketplace, and when you know what other short-term rentals in your area are pricing at, you can work around those standards in real time. It’s worth your while to invest in dynamic pricing tools to make sure you’re up to date on market trends as travel seasons fluctuate and local events change the nature of where visitors are looking to stay.  

5. Make Versatile Marketing a Priority

When you’re looking to attract the attention of long-term tenants, marketing your property on a single channel could be successful. However, when you’re transitioning your long-term rental to a short-term rental, you’re going to want to make sure you’re expanding your marketing approach to include multiple booking channels at all times. Travelers jump between platforms like Airbnb, VRBO, Booking.com, HomeAway, and more when they’re hunting for just the right home-away-from-home experience. Having your rental listed on all of them simultaneously ensures your property will get the online exposure it needs to get in front of as many prospective short-term guests as possible. 

Reach Out Today to Learn More

If you’re considering transitioning your 30A long-term rental into a short-term rental instead and you’re looking for professional partners to help you manage the process, the team at Dune Vacation Rentals is here to help. Reach out today to learn more about our comprehensive management services as well more about our renovations and project management options.