Investors

In the past few years vacation properties have grown in popularity, for a good reason.  The convenience of having kitchen,  living area, private pool, and over all warmer ambiance for about the same price point as a hotel is hard to pass up.  But what are the reasons for owning a vacation rental property?

It is a great investment. You build equity in your property while the guests rental fee make your payment. A strong vacation property will bring in a monthly income on top of covering all of you property costs.  To top that off you have a second home for your personal vacations. It is a win/win scenario, you provide a great experience for your guests  vacation at a great price point and you make money.  The most difficult part of owning a vacation home is finding a experienced reliable management company. Arizona Vacation Rental Company, would love to see if we are the right partner for you. Email or call us today!

What are the most important things to consider when choosing a Vacation Property?  First thing you need to determine is location. Here in Arizona we have many choices for great vacation rental locations.  You can choose a location close to golfing, hiking, spring training, or a sleepy area to just enjoy the quiet and sunshine.  

Once you have determined the location you need to decide on the type and size of property you would prefer. If it is something you are going to use personally? Do you need a certain amount of beds? Are there certain  features you want or are you strictly looking for the highest return on your investment? Typically smaller units such as a one or two bedroom condos will give you a higher ROI but their is still a demand for larger houses, if that is what works best for you family. Properties that have pools, spa, views, walking distance to amenities are all features that help sell a property. Don't forget to calculate in the expenses of upkeep. The smaller condos may have higher HOA fees but your yard and pool maintenance as well as roof warranties are usually included. Some guests are willing to pay the higher cost for the privacy of a home. It is important to weigh the different options. Don't forget to make sure that short term rentals are allowed in the community you are looking in. Some associations have rules limiting your rental abilities.  If you have decided to become a vacation rental owner, reach out today so that we can guide you in setting up or purchasing a property. 

Some of the best ways to make you vacation home stand out is to offer some thoughtful touches. You can tailor your hospitality touches to the type of rental you are providing, it it geared towards family's or is it more of a couple retreat. For a family stay having a fruit basket and a few bottles of water to greet them is a nice touch. If it a couple you happen to know is celebrating a anniversary a bottle of wine or Champagne would start your guests off with a great impression.  If you have a pool on the property you should provide pool towels but taking it a step further have a supply of sunscreen and some pool floats to provide a little extra.  There are many ideas to stand out. A gourmet coffee bar with flavored creamers and a few choices of coffee with a great display can be a wow factor. 

Setting guest up with anything they may have forgotten is also a nice touch. A few extra toothbrushes, toothpaste, Travel size deodorant, lotion and disposable razor in a nice display basket. It will rarely get used but be a thoughtful gesture with a note saying for those who have forgotten please be our guest. If you have ever forgotten one of these items on a trip, you will be thankful for the thoughtful gesture, especially if the store is not nearby. 

 

What is a Mid-Term Rental?

A mid-term rental refers to a property rented out for a duration typically ranging from 30 days to 6 months. These rentals often come fully furnished and cater to individuals or families who need temporary housing for various reasons, bridging the gap between short-term vacation rentals and long-term leases.

Why Should Property Owners Consider Mid-Term Rentals?

For property owners and investors, mid-term rentals offer unique opportunities to maximize returns while minimizing the challenges associated with traditional rental strategies. Here’s why they might be right for you:

1. Higher Yields: Mid-term rentals typically generate higher income than long-term leases while avoiding the seasonal fluctuations of short-term vacation rentals.
2. Lower Turnover Costs: Compared to short-term rentals, mid-term rentals have fewer turnovers, which means lower expenses for cleaning, marketing, and maintenance between tenants.
3. Reliable Tenant Pool: Mid-term rentals attract professionals, families, and individuals who are often responsible and stable, reducing the risks of late payments or property damage.
4. Adaptability to Market Trends: With the rise of remote work, corporate relocations, and extended travel, the demand for mid-term rentals continues to grow, offering a sustainable and scalable income stream.

Is a Mid-Term Rental Right for Your Property?

To determine if a mid-term rental strategy suits your investment goals, consider the following:

• Location: Properties near business hubs, hospitals, universities, or tourist-friendly areas tend to attract mid-term renters like professionals, medical travelers, and students.
• Furnishing Capability: Are you prepared to offer a fully furnished property with amenities that cater to tenants seeking a temporary home?
• Local Regulations: Some areas have specific rules regarding rental durations and occupancy. Ensure your property complies with these guidelines.
• Management Resources: Mid-term rentals require less day-to-day management than short-term vacation rentals but still benefit from attentive tenant communication and upkeep.

Tips for Successful Mid-Term Rentals

1. Target the Right Audience: Market your property to remote workers, corporate professionals, medical travelers, and families in transition.
2. Create a Comfortable Space: Provide quality furnishings, high-speed internet, and essential amenities to make the property move-in ready and appealing.
3. Utilize the Right Platforms: Advertise your mid-term rental on platforms like Furnished Finder, Airbnb, and Zillow, which cater to this segment of renters.
4. Set Competitive Pricing: Research similar listings in your area to determine a price point that balances profitability and value for tenants.

The Future of Mid-Term Rentals for Investors

As renter preferences evolve, mid-term rentals are emerging as a lucrative and sustainable option for property owners. By catering to the growing demand for flexible, comfortable housing, you can diversify your portfolio and secure consistent returns with less hassle than short-term rentals. If you’re looking to capitalize on this growing trend, now might be the perfect time to explore mid-term rentals for your property. Written by Amy Mills from Arizona Vacation Rental Company