With its deep emerald green color and white sand, it's no wonder 4.5 million people visit the Emerald Coast yearly. Of those visitors, 80% also head to Destin, Florida.
So, if you own short-term rentals (STRs) in the "World's Luckiest Fishing Village," you're lucky, too, as the City's popularity can help you attract more guests to your properties.
However, you need to know and implement the must-dos of short-term rental management to increase your chances of successfully booking guests.
This guide discusses those must-dos, so read on.
1. Register the Rental
Short-term rental laws in the City of Destin require the registration of STRs. To register, you need the following:
- A City of Destin Business Tax Receipt
- A Florida Rental Dwelling License
- A Florida Department of Revenue Resale Certificate
- Notarized Affidavit of Bedrooms and Parking
Register your STRs online and pay the appropriate fees via the City of Destin Website.
2. Price It Right
Accommodation prices, especially for hotels, went through the roof in 2023. Experts expect this trend to continue in 2024.
That's a good enough reason to set reasonable rental rates for your STRs.
If you overprice your rental, potential guests will likely steer clear of your properties. Conversely, underpricing can attract the wrong crowd. Both scenarios can result in significant profit loss.
To avoid those issues, conduct regular STR rate analyses of comparable properties near yours. That can help you determine fair market rates for your short-term rentals.
3. Market Your Property
After registration, you can now conduct short-term rental marketing for your properties. At the very least, it should include:
- Staging your property
- Taking high-quality photos
- Listing your property on popular vacation rental platforms
- Advertising on social media
You should also craft an engaging but factual description of your properties. You should highlight all their features, such as whether they have a patio, balcony, pool, outdoor space, or a nearby beach.
4. Follow a Cleaning Checklist
Inspect and clean your STRs before and after every check-in and check-out to maintain their cleanliness and condition. It can also help you spot any damage previous guests may have caused. For a closer look at these tasks, check out this vacation rental cleaning checklist.
5. Partner With a Property Manager
Do you want the most "passive" way to run short-term rentals? Then, work with a property management company. They can handle the above tasks, as well as:
- Ensuring timely payment of your short-term rental tax
- Suggesting (and overseeing) short-term rental upgrades to make your STRs more attractive
- Conducting regular property inspections, maintenance, and repairs
- Communicating with guests before, during, and after the booking
A property manager can also help you screen guests and develop a short-term rental agreement.
Simplify Short-Term Rental Management With Professional Help
Short-term rentals can be lucrative, but managing them can be complex and time-consuming. So, if you prefer to earn passive income without being too hands-on, partner with PMI Destin-30A.
PMI Destin-30A is a full-service real estate and short-term property management company in Destin, FL. From free rental analyses to marketing, accounting, and property maintenance, we specialize in all these services (and more). We're also a proud member of PMI, a national property management solutions provider with over 20 years of experience.
So, speak with us today if you're ready to simplify short-term rental management with our help and expertise.
