The vacation rental industry has changed rapidly in recent years and it has become more than ever easy to rent your home or apartment over the long term or the short term. Whether you want to permanently convert your property into a vacation rental or you want to rent it for a few weeks while you’re on vacation, there are people who want to rent it and websites or services who can help you find a taker.
Ask yourself if your property could make a good vacation rental
Before you invest a lot of time and money to prepare for renting, you must start by making sure your home is suitable for renting. Is it in a wanted place? Is it close to attractions in your city? Does your home have unique amenities or features that make it more desirable?
Make sure you can rent your apartment legally
There are many laws and regulations that could govern the leasing of real estate in your area. Do some research to avoid paying fines in the future. There are often local regulations governing leasing. To find out about these rules, you can start by searching the Internet by typing “rental regulations (your city)” or by calling an information number at the Town Hall to find out more.
Your property Insurance
You will first have to take out comprehensive household insurance or non-occupant homeowners insurance, depending on the insurance company. But before signing a contract, we recommend that you make an appointment with your insurer to explain your project. Your insurer will determine the contract that best suits your needs. During this meeting, it is essential to describe precisely to your insurer the activity you plan to perform. If it is a furnished rental, consider making an estimate of the movable property that you make available to your tenants by specifying the new value of these properties. Whether furniture such as beds, wardrobes, bedside tables, sofas, tables and chairs, but also elements of decorations, linens, dishes and other kitchen utensils, electrical and computer equipment, etc.
Can we always transform an empty rental into a furnished one?
In concrete terms, any empty rental can become a furnished one. The housing should, for example, be properly equipped and furnished but above all, it should match the expectations of the market, to justify a higher rent. If the apartment is larger, it may be possible to offer a furnished apartment, or a seasonal furnished apartment for tourists – provided that local regulations allow it. In Paris, for example, to rent a property furnished to the year to tourists, you must obtain an authorization from the town hall.