Renting your villa in Bali for a vacation brings in lot of responsibilities in managing property and tax implications. However, this also involves in you benefiting an extra income, which outweighs the little hassles caused by the rental issues.
We are here answer your worries on ‘how to rent my second home as a vocational rental’.
Ready Your Bali villas for rent
Vacations home must appear different from a normal home with all attractions of a hotel at the same time provide the comfort of a home. Hence, stage your home. You may imagine a good hotel and try to bring the ambience though you may not have the posh furniture. Provide free space, which is inviting. Paint in a unique colorful manner and then advertise it.
Appoint a Manager
If your second home is far for you to manage on your own, find a reliable person to manage the show. The manager must be capable of handling the entire show that includes attending emergency issues in odd times without panic and with skill.
Maintain the House
This is the important aspect of how to rent my second home as a vacation rental, is to maintain it on a regular basis. This involves hiring a housekeeper, which could be taken care by your manager himself. Locate reliable shops for plumbing, electrical, and yard work and have them fixed to attend your home whenever there is a demand that arises. This would also help in the regular maintenance of your vacation home.
This is another important step to be taken on how to rent luxury villa in Bali as a vacation rental. Agreement forms with all required rules of a vacation home clearly listed must be provided to every customer for signature. Bali villas for rent agreement must include essential points such as; rules on pets, damages of property, statements on liability, parking agreement, maximum period of occupancy, and rates for rent. Have this reviewed by your attorney, if you have hired one.
This is very essential for any rental property. Acquire a proper insurance from a reliable insurance agent after checking with them what type of insurance is required for your short-term or long-term vacation rental. The liability coverage could be higher than that of private house insurance.
Mode of Rental Payments
You have to decide what are the different forms of payments you are comfortable with for the vacation rental. You may use a credit card system, which is used by many or you may also use a third-party credit card process provided by the online rental sites for vacations. This would permit your visitors to make their payments online.
You must also consider other fees such as; pet fees and deposits, damage and security deposits. Different rates have to be set for off seasons and peak seasons along with the minimum per night stay. This would avoid unnecessary losses.
You may either utilize your management staff or just provide lockboxes with codes for the guests to access their keys. Have extra keys for all doors to handle emergencies and losses.
When you have the idea of how to rent villa in Bali as a vacation rental and once your villa is ready, the first step would be to advertise. You may choose to do it on your own or may want to hire an agency of property management to do the job for you and be successful.