Transforming Your Lake House for Greater Short-Term Rental Income

September 17, 2022

 There's no question that a lake house can provide a wonderful and relaxing getaway for families and friends. But what if you could also use your lake house to generate some extra income? By transforming your lake house into a short-term rental property, you can enjoy all the benefits of owning a second home while also making some money on the side. This blog will discuss some tips for transforming your lake house into a short-term rental property.

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1) Start by assessing what kind of lake house you have. 

Is it a cozy cabin in the woods or a large estate on the water? The size and style of your lake house will dictate how you can best utilize it for short-term rentals.

If you have a smaller lake house, you may want to focus on renting it out for weekend getaways or special occasions. You can advertise your rental on websites like Airbnb or VRBO and set your own rates and availability. For larger lake houses, you may want to consider renting them out for extended stays or even hosting events like weddings or corporate retreats. In this case, you'll need to research to find out what rates are being charged for similar properties in your area.

Once you understand what kind of property you have, you can start thinking about how you want to use it for short-term rentals.

2) Make sure your property is up to code. 

Before you start renting out your lake house, you'll need to ensure that it meets all the necessary safety and zoning requirements. This may include getting a permit from your local municipality or making some updates to the property, such as installing smoke detectors or adding handrails to stairs. 

3) Choose your rental dates wisely. 

One of the key things to remember when renting out your lake house is that you'll need to be strategic about when you make it available for rent. For example, you'll want to avoid peak times, such as the summer holidays, when demand (and prices) are high. Instead, focus on slower periods, like shoulder season or winter, when you can still get reasonable rates, but there's less competition from other rentals. You should also remember that you'll need to factor in time for cleaning and maintenance between renters. So make sure to leave some buffer days in your schedule to allow for this.

4) Refurnish your lake house so that it appeals to renters. 

When you're furnishing your lake house for short-term rentals, you'll want to strike a balance between making it feel like home and keeping it clean and comfortable for guests. This means removing any personal items that might make renters feel like they're intruding in your space. It also means investing in some key pieces of furniture and decor that will make your rental more inviting and stylish. Est Est Inc can help you find the perfect furniture and accessories for your lake house rental if you're unsure where to start.

Following these tips can successfully transform your lake house into a short-term rental property. With some careful planning and preparation, you can maximize your rental income while still enjoying all the benefits of owning a second home.

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