Tips for purchasing a VRBO property
Research your competition…thoroughly.
1. Read the reviews. What are prior guests saying?
2. Don’t assume a booked calendar means no vacancy.
3. How long have these properties been around and renting to furnished guests?
4. What is their peak season as well as their low season rate?
5. How many average nights do their guests stay? Do you want to offer something different?
6. How do the competitors comply with the HOA rules (if any)?
A cheaper property manager may not be better.
1. If the manager does not bring guests or “quality” renters you have lost in the long run. Does your manager book any reservations away from OTA’s (Airbnb or VRBO). What percentage of their guests return or are booked via a referral?
How much does it cost o moderately furnish a vacation or corporate rental?
Estimate…….. $10,000 per bedroom.
One bedroom / one bath condo =$10000
Three bedroom / two bath home = $30000
Five bedroom/ three bath = $50000 +
This is to furnish on a budget….luxury home with all the accessories up to $20000 per bedroom.