Columbus, Ohio's tourism industry was on a roll in 2023, with the city welcoming 51.2 million visitors, according to NBC4. Visitors also spent $8.2 billion on local businesses!
So, wouldn't it be nice if you could get a piece of that pie? If you learn how to rent your home for vacations, you could.
Luckily, you landed on the right page. Read on as the vacation rental management experts at PMI MVP have shared home rental tips to help you get started.
Find out Your Home's Profitability
Before counting your chickens, you must determine the average price you can charge when renting your home. For Columbus, OH vacation homes, the rental rates depend on:
- Exact location
- Size
- The number of bedrooms and bathrooms
- Amenities like appliances, internet, home security, or bathtubs
- Features like balconies, green spaces, and fireplaces
- Seasonal and market demand
The better the location (e.g., near services like police/fire departments, shopping, and dining), the higher the rental price a property usually commands. Likewise, the bigger its size and the more amenities it has, the more you can typically charge. You must, however, factor in the season, too; if it's low season, you'd need to adjust your rates accordingly.
The best way to determine your home's profitability is through an expert rental analysis. You can get this for free if you work with a reputable Columbus property management company.
Secure an STRT Permit
Next, secure a short-term rental (STR) permit for your Columbus home. According to the City of Columbus government website, an STR permit is necessary for homes rented out for under 30 nights. You can apply for the permit through the Department of Building and Zoning License Section.
Check the local government's Short-Term Rental Code 598 Requirements checklist, too. There, you'll find everything you need to submit and do to apply for the STR permit.
Partner With a Pro
Once you have a valid STR permit, you can prepare your vacation home to make it guest-ready. Some of the most crucial tasks include:
- Thorough cleaning and disinfection
- Home staging
- Drafting an STR agreement
- Creating attention-grabbing listings and taking professional photos
- Marketing your property on various rental platforms
- Adding personal touches, including welcome treats and local guides
You'd then have to respond to potential guests, screen them, and coordinate their check-ins and check-outs. Don't forget about cleaning and maintaining your properties.
If you can't do all those tasks, consider outsourcing them to a reliable vacation rental management company. Your manager will handle all of them on your behalf so that you can just sit back, relax, and wait for your rental income to roll in.
That's How to Rent Your Home for Vacations in Columbus
Now that you've learned how to rent your home for vacations, your next step is to consider whether you can and have the time to do everything yourself. If you can't or have little time to commit, don't worry: PMI MVP can take over them for you.
Our property management experts can help from the beginning. From giving you a free rental analysis to helping you secure your Columbus STR permit, getting guests to book, and keeping your property in top condition, we can do all these and more.
So, call us today if you're ready to earn holiday rental income in the most passive way possible!
