According to Savannah Now, in 2023, Savannah, GA, area visitors stayed longer and spent more. In 2022, around 30% of visitors stayed three nights, which then increased to 80% in 2023. Visitor spending also jumped by 6.5%.
All those figures should prompt you to consider renting your Savannah, GA, property to vacationers. With the right vacation rental property management strategies, you can generate a handsome income and contribute to the local economy's growth.
So, without further ado, here's PMI Coastal GA's guide to vacation rental management dos and don'ts.
Do Acquire an STVR Certificate
Per the City of Savannah, short-term vacation rentals (STVRs) are residential dwelling units rented for 30 consecutive days or less. They must have a valid STVR certificate, which is good for one year and requires annual renewal.
Don't Just Set Any Rental Price
One of the costliest vacation rental mistakes you can commit is overcharging or undercharging guests. You'll have difficulty getting guests to book if you set unjustifiably higher prices than comparable rentals. If you charge too low, you likely won't make enough vacation rental income and profits to pay yourself.
If you're unsure how much to charge, you should research and analyze comparable properties near yours. See how much their rental rates are, and then use these as your guide to setting yours.
Do Clean Before and After Every Guest Check-in
Clean your rental before guests arrive and after they leave to give them an incredible experience and get 5-star reviews. Focus on high-traffic areas, like the living room, kitchen, and bathrooms, and always replace bedding and linen. You should also schedule regular deep cleaning of your rental.
Don't Restrict Guests From Bringing Pets
For most Americans, pets are part of the family. For this reason, many households typically bring their furry family members on vacations. Indeed, Dogster.com says nearly 80% of Americans travel with pets yearly.
So, if your Savannah vacation rental isn't pet-friendly, you risk losing many prospective guests. If you're anxious about pet damage, consider purchasing vacation rental insurance that provides pet liability and damage coverage.
Do Consider Hiring a Vacation Rental Property Management Firm
If you'd like to earn short-term rental income in the least stressful, most straightforward way, partner with a vacation rental property management firm. They can take over most of the tasks you'd otherwise do, such as:
- Vacation property marketing
- Guest communication
- Implementation of guest screening policies
- Booking coordination
- Property inspection, maintenance, and repair oversight
Hiring a property manager is even more beneficial if you're not always in Savannah or live outside Georgia. Since vacation rental managers are locals, they're the perfect people to look after your property.
Partner With PMI Coastal GA
Now that you know the dos and don'ts of vacation rental property management in Savannah, GA, the next step is to decide whether you can take on all the duties of being a host. If you're too busy but would still like to earn a generous rental income, PMI Coastal GA is happy to help.
Our team comprises highly educated and licensed real estate, property management, tax, and accounting professionals. Our owner, Allan Garcia, also brings over a decade of experience in customer support and operations management.
So, speak with us today to learn how we can manage your vacation rental and boost your profits!
