If you own a property that sits empty for a significant period of time, you might want to list it on VRBO. You can offset the costs of owning a home by offering it up as a short-term rental. Listing on VRBO is simple, and it can be quite rewarding. Understanding how to VRBO your house can help you get started.
How Does VRBO Work For Owners?
Along with HomeAway.com and VacationRentals.com, VRBO.com makes up the largest online property rental marketplace in the world. Listing property on VRBO gives you access to travelers from 190 countries. You control your listing, pricing, availability and the ability to choose your tenants. VRBO offers a variety of online tools to help you create a listing and manage reservations.
Offering your home as a vacation rental isn’t a get-rich-quick scheme, but it can be lucrative. A three-bedroom, two-bathroom home that sleeps six in coastal Wilmington, NC, could bring in between $21,000 and $28,755 a year, according to VRBO’s online income calculator.
According to a Home Away survey, the average vacation rental owner earns about 24 percent of his or her income through a rental property that requires fewer than 10 hours a week of marketing and management.
Using VRBO makes the process easier. You can gain an almost passive income while you wait for your home to appreciate.
How To Get Started On VRBO
If you’re interested in listing property on VRBO, head to VRBO.com, and click on “List your property” in the upper right-hand corner. You’ll have to use VRBO’s earning calculator to enter the number of bedrooms, bathrooms and sleeping accommodations that your property has. Click “Next,” and then enter your property’s location.
You’ll be asked to create an account. After you do so, VRBO will show you the estimate.
Click “Continue.” VRBO will walk you through a seven-step process to set up your listing. These steps include:
- Verifying the address
- Describing your property with a headline and property description
- Selecting booking options
- Uploading photos
- Protecting your account with phone verification
- Adding banking and personal identification information to tell VRBO where to send your money
- Setting up pricing and availability
VRBO Owner Fees
Owners can opt to pay $499 for a yearly subscription to VRBO. If you go that route, you’ll also pay a 3-percent credit card processing fee on every booking through the website.
VRBO also offers a pay-per-booking model. If you choose this option, you’ll pay a 5-percent booking fee and a 3-percent credit card processing fee.
If you plan to earn less than $6,000 in total net income from your rental property in one year, you’re better off choosing the pay-per-booking plan. Otherwise, the subscription service will help you bring in the most profits.
Tips And Best Practices For How To VRBO Your House
Although listing your home on VRBO is really that simple, there are a few extra factors that you should take into consideration before you start renting your property.
Craft Your Description Wisely
A catchy headline can do wonders for attracting guests. It’s the first thing that many travelers see. Stand out from the competition by writing something that highlights your home’s best features and isn’t the same as everyone else’s headline.
Don’t Skimp On The Photos
If potential renters aren’t looking at the headline, they’re scoping out the photos, which can make or break your listing. Your first photo should be the best one. Although interior shots of each room are important, few people are going to be wowed if your initial photo depicts a basic sofa setup in the living room.
Choose the most impressive or unique feature of your property to highlight with this picture. Perhaps you have an enormous picture window that overlooks the mountains or a hot tub underneath a charming grape arbor. Showcase them.
No matter how amazing your smartphone camera skills are, consider hiring a professional real estate photographer to snap the pictures. They know how to optimize the appeal of each setting, and they can help you stage your home for the best results.
Instant Booking vs. 24-Hour Review
You can choose to allow customers to instantly book your property without undergoing a review process. This allows them to secure the rental as they’re browsing. You can still set up house rules or rental policies, which the guest must accept during checkout.
The other option is to review all of the applications manually. This gives you a chance to correspond with guests to determine if they fit your requirements before they complete the booking.
Once you know how to VRBO your house, you can get started right away. This is your chance to make money off an income property without the headaches that can come from marketing it as a vacation rental.