□ Read up on HOA regulations.
□ Review requirements for business licenses and paperwork.
□ Review safety requirements and health code regulations for your area.
□ Research and purchase an insurance policy for vacation rentals.
□ Create a rental agreement. Include clauses for the following:
□ Review information on applicable tax deductions, capital gains, and LLC tax requirements.
□ Research occupancy tax rate or sales tax for short term rentals in your county.
□ Determine your vacation rental goals and break-even point.
□ Set your The specified article was not found. (nightly, weekly, monthly) and rates.
□ Devise a method for tracking and recording payments and expenses.
□ Determine your methods for accepting payment (checks, ReservationManager online payments, PayPal).
□ Create a deposit refund letter.
□ Find a reliable housekeeper or cleaning service.
□ Create a cleaning/housekeeping checklist.
□ Review cleaning checklist and process for check-in, checkout and keys with hired
□ Find a reliable handyman or maintenance person.
□ Create a maintenance checklist.
□ Complete maintenance projects and renovations.
□ Furnish your home based on target renters.
□ Create a list of items to purchase.
□ Purchase necessary items and save receipts! Also, try to keep all instruction booklets or
manuals together in a place where renters can easily find them.
□ Create a property inventory list of items in your home.
□ Purchase a local attractions book.□ Gather coupons, local attraction/activity brochures and menus from local restaurants and
put them in a binder to create a local attractions book.
□ Review vacation rental listing websites (like HomAway.com, VRBO.com and
VacationRentals.com) and specialty websites to determine options for advertising your
□ Set up accounts with 3 to 5 listing sites.
□ Create a headline, property description, and location description for your listing.
□ Stage your home for photos.
□ Take multiple pictures with a digital camera at different times of day or hire a
□ Create captions for each photo.
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□ Link to listing site(s) from personal website.
□ Have 3 people proofread your personal site and listings.
□ Send an email to everyone in your address book linking to your personal site and new
□ Set up an auto-responder for inquiries.
□ Create standard responses and a sample confirmation email.
□ Build a thorough set of directions.
□ Build a list of instructions for using appliances, electronics and equipment at your property.
□ Determine method for getting keys to renters.
□ Create a check-in procedure.
□ Create a checkout procedure.
□ Set up an emergency contact sheet.
□ Put together local vacation tips for your guests.
That wasn't so bad, was it? Now that you've checked off all the items for turning your second home into a vacation rental, go ahead and start renting!