Selling your vacation rental home quickly can eliminate the hassles that homeowners try to avoid during the selling process. It can help you get the highest return by keeping you from having to reduce its selling price to attract buyers when your house doesn’t sell right away.
The following are effective ways homeowners can implement to sell their vacation rentals near Universal Orlando quickly, while making the process easier and more profitable.
Start with Your Home’s First Impression
Today’s buyers have plenty of resources for searching for homes in the Orlando area. Getting their attention is the first hurdle you have to overcome if you want to sell your vacation rental quickly.
Taking the time to maintain and update your home’s exterior increases its curb appeal. Clean up your landscaping, add fresh flowers, get the home repainted if needed.
Your home’s interior also makes an impression on potential buyers. Consider the needs and interests of holiday travelers. The features of your home should meet those needs, making it more attractive to rental guests, which appeals to buyers looking to generate ongoing revenue from their home investment. For instance, if your home is close to Universal Orlando, consider implementing a Harry Potter theme in one or more of the bedrooms.
Know (and Show) Your Vacation Rental Home’s Value
When you know the value of your vacation rental home, you’ll know what to expect when placing it on the market. Investing in a property appraisal can pay off in the long run.
An appraisal lets you know that the price you’re asking aligns with the current real estate market. It lets you provide accurate data to potential buyers while giving you leverage to negotiate if a buyer tries to make a low offer.
Your vacation home’s rental history is another indicator of its true market value. When buyers know that your home is consistently booked with paying guests, they’ll be more likely to pay a higher price faster.
For best results, share this information with your prospective buyers:
- Vacation Rental Websites: Make a list of all the websites your short-term rental property is listed on, as well as the name of the property or its code so buyers can view the listing.
- Property Manager: Include the name of your property manager and how to contact them.
- Rental Income: Compile a list of the number of nights your home was booked during the last 12 months, and the rental income you received.
- Projected Rental Income: Include a projection of the rental income your home should earn during the next 3 to 6 months. This enables potential buyers to see how much money they should be able to expect to earn after they close on the purchase of your property.
Give Home Buyers Everything They Need
A home inspection can give you (and buyers) the information needed to sell your home fast. Like the appraisal, a home inspection should be performed before listing your home on the market. This protects you from unwanted surprises that can derail the closing process.
Bear in mind that you don’t have to fix every issue the report reveals. That’s because buyers will initiate their own inspections. Getting your own inspection allows you to discover what issues might be lurking ahead of time, so you can make necessary repairs and avoid costly delays in the closing process.
Today’s buyers see numerous properties before choosing one. The more information you provide in advance, the more likely they are to remember your home when it’s time to buy. Updating your home to make a more memorable first impression and knowing how much your home is worth can speed up the buying process.
If you need help selling your vacation rental quickly, Team Donovan specializes in helping today’s home investors buy and sell vacation rentals near Universal Orlando, and the Central Florida area. Schedule a free consultation today by filling out our online form, or calling 407-705-2616.