News & Tips to help you with your short-term rental.

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Coconino County Vacation Rental Ordinance Hearing

On February 28th, the county held a hearing on the vacation rental ordinance. Link HERE. Our stance on this, having been through the original county struggle with a VR Ordinance before the state law superseded it, is that this is a common sense ordinance.

National conference hosted by VRMA in May

The Vacation Rental Management Association, VRMA, a national association in support of vacation rental managers is having a conference in May in Los Angeles. Link HERE.
Spring tips! Since the buying season is almost upon on us in Arizona, now is the time to talk about how to evaluate the purchase of a property for a vacation rental. During the last major change in the market, when real estate lost a ton of value, many eager investors bought up properties to turn them into short term rentals. Since they were looking for ways to make properties perform in the short term, they were a bit indiscriminate in the properties they chose to make into vacation rentals.
If you have a property you are wishing to make into a VR, or if you are looking to purchase a VR, there are some things you should think about. The previously mentioned investors made a lot of mistakes. Not all properties are cut out to be vacation rentals. Location is important, sometimes even micro location...where on the block is it? What is it close to? How will it fit into the neighborhood? Next, is the neighborhood a good place for a VR? How about the larger community? What brings people, particularly vacationers to the area? And finally, if it seems like it's a good location for a vacation rental - its easy now to go look at how many there are, how they look, what they rent for, and how booked up they are.

If you are thinking about a vacation rental of your own, and not sure how to maximize it's potential, talk to us. 20 years of experience have taught us a lot.

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