lystn

Matt and Jessica discuss the steps and the journey of investing in a nightly rental property. What are your goals with your property? Discover the top markets, review the rental demand vs price of the property, Vacasa is a great start. Consider the location, how easy is it to manage? How hands-on (or off) do you want to be, and will you be enjoying the property as well? Create a pros and cons list of your chosen areas factor in seasonality, what is the draw of the area, is there an off-season? Discuss the metro markets that feed into your immediate area (day trippers), look at zoning and regulations, create a spreadsheet and review expected income each month (peak events/holidays/draw), reach out to other hosts and see what kind of information you can get on their experience including peaks and valleys in rental frequency. Calculate your expenditures include utilities, wear and tear, maintenance costs, etc…

Review top markets for vacation homes: https://www.vacasa.com/top-markets

Review past data rental data: https://www.airdna.co/