Malta is a sought-after vacation spot that's quickly growing, reeling in over three million visitors per year.
If you own a home in this top destination, you have a lucrative opportunity waiting on your doorstep. More people are choosing to rent vacation homes over booking hotel stays. This choice creates a fuller vacation experience, giving guests access to kitchens and cozy common areas.
How do you get into this market?
Save these home sharing tips for your vacation home plan.
Hire a Property Manager
Don't rent out your vacation home without a property manager on the job. The role goes beyond routine property maintenance. Property managers also oversee marketing campaigns, accounting, guest procurement, rent collection, and more.
Your first step is to book a consultation with a property management company. This process will match you with the right professional. They'll walk you through the process, from property inspections to rental listing.
You'll also receive a complete rental analysis to discover the value of the property. It's important to understand this value so that you can list your property for the right rental price. Rest assured, your property manager will be extremely experienced in this area, looking at both market rates and surrounding rental prices to settle on the right amount.
Vacation Home Marketing
Pricing strategy is a crucial part of your property marketing campaigns. Guests often filter their vacation rental searches by price.
Expect your property manager to have years of marketing experience.
After pricing comes home staging. Your rental must shine in photos to catch renters' attention.
A property manager will depersonalize the space first so that prospective guests can better envision themselves in the rental. They may also suggest investing in upgrades that can facilitate better vacation experiences and even higher rental prices.
Next, they'll write rental listing copy that entices leads to book online. They can also contact the property manager for more information. Web copy will include guest home amenities like on-site pools, laundry, fully-equipped kitchens, and home entertainment systems.
Listing copy should also outline expectations for guests, like cleanliness and low noise levels to avoid property damage and neighborhood conflicts.
Property managers use real estate software to list rentals on multiple sites to generate as much online exposure as possible. This also helps them communicate more efficiently with prospective guests.
Home Sharing Tips for Guest Placement
The right marketing strategy attracts the ideal guest.
Background checks will also be conducted to screen for financial responsibility, criminal history, and identification. If you're planning to allow pets on the property, a property manager can set and accept pet deposit amounts from guests.
The above points speak to the importance of good rental contracts. All important points and procedures should be stipulated in a legal document. When you work with a property management company, you avoid the costly risk of DIY contracts.
Facilitate the Perfect Vacation Experience
Help keep Malta's tourist economy strong. Follow these home sharing tips to create a vacation experience that keeps guests coming back for more every year.
The property managers at PMI Malta are experienced in a range of responsibilities, from marketing to maintenance. Contact us today to learn more!
