Have you bought a vacation home at a hill station but hardly have time for vacation? This story is not only yours but of the many ‘wanderers’ who are tangled in a busy life and want to take a serene retreat at a hill station every now and then. But much to their disappointment, these second homes stay vacant for most of the year. It does not make sense to leave such a profitable investment lie unused. So, what are the options?
The easiest way is to let out your property on rent throughout the year and get a hefty amount sitting at home. You can also recover the loan amount through the rental returns. To make your property more appealing and attractive for the prospective tenants, follow these simple tips.
If you have still not invested in a second home but are thinking to do so, we suggest you to choose the location wisely. The mantra is to find a place that attracts tourists for most of the year like Ooty, Mount Abu and Munnar. These places remain tourist friendly throughout the year and your rental yields will never go down. Once you decide the city, the next job is to find the right area within the city. For this, you must do a little research. Get in touch with local real estate brokers and get acquainted with the locale. Follow our step by step guide to buying a vacation home and make the right choice.
On the other hand, if you already have a vacation home, you must know the right way of marketing it. Though curb appeal is needed for selling the homes, it is equally important for the purpose of renting. So start working on your front porch. You will have to list the property on a website or in the papers which will showcase the front porch first. So it should be the showstopper. Trim the lawn, fix the damages, set a nice outdoor seating and install new lights. This should not only be for the photo but also stay that way.
Show some love to the master bedroom. It should be perfectly set- neat and tidy. Pay much attention to the hangout zones and party areas, make it a memorable experience for the tenants. Keep the color palette neutral so that it attracts a larger percentage of people. People usually visit in groups so the sleeping quarters should be maximized. Nobody likes to lay on the floor when on vacation.
A second home is a furnished unit but everybody is not well-versed with what is where. To help them avoid hassles, keep a reference book handy. It should contain everything from the process of handling the air conditioning systems to the times of garbage disposal. Label the items in the kitchen to save their time. Keep board games like chess, jenga, twister and others for the visitors. Be a good host so that they would refer your house as a great hangout spot to their friends and families.
List your house on websites and other marketing channels. Consider hiring a professional photographer and make an impressive portfolio of your home. A few simple steps and you earn a handful sitting at home.
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