Ready to reap the benefits of OWNING the vacation rental? Leasing to short-term tenants has proven to be an extremely profitable and a highly-sought after investment; especially in Scottsdale.
Why out-of-towners love Scottsdale in the Spring:
- Escape freezing temps, rain/sleet/snow/blizzard (vacation in 75 degrees never sounded better!)
- Events hosted in Scottsdale: Barrett Jackson, Waste Management Open, Spring Training.
Another reason there is such high demand for short term rentals? Potential buyers who are hoping to learn about areas, the local real estate market, and ultimately purchase a property in Phoenix, are likely renters of a vacation rental. Renting a home for 1-3 months can can provide just enough time for homebuyers to learn about the areas, which neighborhood they want to be in, make an offer, and secure a home. Your vacation rental provides short term housing, without locking in a long term lease.
Find the RIGHT home for a vacation rental or renovate/create the perfect Vacation Rental:
- Location, location, LOCATION: When travelers book their stay in a home, they want to be as close to the action as possible. Finding a home as close to one of the “main hubs” will ensure maximum bookings, and maximum nightly rates. Guests want to be a short ride away from cool restaurants, hip shops, activities, and events. Guests are there to experience the city and minimize drive time or uber bills.
- 3 Major Events: Vacationers visit Scottsdale for 3 major events in the spring: Barrett Jackson, Waste Management Open, and Spring Training. Being in close proximity to these events, is as good as you can get! Guests will pay top dollar to be close to TPC, Scottsdale Stadium and WestWorld Scottsdale.
- Walkability to restaurants, bars, shopping will bring in the big bucks. If your home is not as walkable, not the end of the world. Uber has made everyone’s lives much easier, but a quick uber is better than having to drive 45 minutes, making guests not want to leave the house at all.
- The backyard: We all know Scottsdale means a few things: lazy days by the pool, sunshine and golf. Why not incorporate these into your backyard? Having a pool, jacuzzi, putting green and fire pit turn your vacation rental into the ultimate vacation.
- Get creative: Make your vacation rental stand out from the rest. Having desirable features is great, but you want to excite vacationers about the unique decor, endless activities in the backyard, unique architecture and features your home has that makes it stand out. Incorporating: themed rooms, a volleyball court in the yard, games like air hockey, pac-man, pinball etc can make your home look like no where guests ever stayed before. New experiences are highly sought after! Teach guests about your unique city, through decor in your home, a handcrafted book designed by you, city- specific memorabilia.
- Maximize space: The more beds = more vacationers will pay. What rooms can you incorporate bunk beds and/or a trundle bed? Vacationers will stay in groups, so being able to accommodate everyone in one home is their priority. Guests being able to split the Airbnb bill is super enticing!
On the other hand, keep in mind, if you own a large home that you’re planning to rent out, (say 5+ bedrooms)… this sprawling layout will be enticing to vacationers looking to host bachelor/bachlorette parties, events, large gatherings etc.
Let’s strategize on finding a home with the highest returns for your investment.