Have you heard that over 37 million people visit Idaho each year, according to Idaho News 6?
Renting out your home in Coeur d'Alene, Idaho, as a vacation rental can be a great way to earn extra income. Coeur d'Alene is a popular destination known for its beautiful lakes, outdoor activities, and stunning scenery.
With the right holiday home rental strategies, you can maximize rental income and enjoy the benefits of owning a vacation property. Read on for our guide on how you can rent out your house in Coeur d'Alene.
Understand Vacation Rental Market Insights
Before you start renting your house, it's important to understand the local vacation rental market. Coeur d'Alene attracts tourists year-round, but peak seasons are in the summer and winter months. In the summer, visitors enjoy water sports, hiking, and fishing.
In the winter, the area is popular for skiing and other snow activities. Researching the vacation rental market in Coeur d'Alene will help you know what to expect in terms of pricing and demand.
Prepare to Rent Out Your House
To attract renters, your home needs to be well-prepared and comfortable. This includes cleaning, maintaining, and decorating the property. Make sure everything works, from kitchen appliances to heating and cooling systems.
Here are some vacation rental tips for preparing your home:
- Clean and declutter: Renters expect a clean and organized home, so hire a professional cleaning service if needed
- Stock essentials: Provide basic items like toilet paper, towels, and bedding, and kitchen utensils
- Make it cozy: Add touches like comfortable furniture, fresh linens, and local art to make the home feel welcoming
Maximize Rental Income
If you want to make the most money from your vacation rental, there are several ways to maximize rental income:
- Set competitive prices: Research the rates of similar Coeur d'Alene properties and set competitive prices based on location, amenities, and season
- Offer extras: Guests love extras like free Wi-Fi, parking, and access to recreational equipment (bikes, kayaks, etc.)
- Advertise effectively: High-quality photos and detailed descriptions will attract more renters, along with highlighting nearby attractions, activities, and restaurants
Work with a Property Management Company
If you live far from Coeur d'Alene or don't want to handle the day-to-day tasks, consider hiring a Coeur d'Alene property management company. They can take care of tasks like marketing, communicating with guests, and handling maintenance.
Market Your Property
One of the most important holiday home rental strategies is marketing your property. List your home on popular vacation rental platforms so you can reach more potential guests. You can also use social media and local travel blogs to market your property to a wider audience.
Make sure your Coeur d'Alene listing has clear, detailed information and appealing photos. Responding to vacationer inquiries quickly will also improve your chances of booking guests.
These Holiday Home Rental Strategies Will Work Wonders
You can earn a ton of money when you rent out your house in Coeur d'Alene. With proper planning, your vacation rental can become a flourishing business.
Would you like to learn about Coeur d'Alene property management? Contact PMI Coeur d'Alene to learn how we can uplift your rental property business. Our team has more than 17 years of real estate and managerial experience.
