Almost any property in the Phoenix real estate market can be converted into a rental. But only a decidedly different subset can work as a vacation rental. So how can you tell if the home you’re thinking of purchasing as an investment may work as a seasonal or vacation rental?
- Amenities. Are you close to a decent golf course? (Nothing wrong with the munis but there’s not huge demand for 6-hour rounds at the Dobson Ranch.) Is there a fitness center, a community pool, a clubhouse, or maybe even tennis courts?
- Location. Are there views of the mountains, of some water, of the golf course or are you overlooking a parking lot? Is there easy freeway access and are you within a reasonable distance of Sky Harbor airport?
- Ease of use. Is the property all on one level or are your vacation renters going to have to schlep up three flights to get to the condo?
- Furnishings. If it doesn’t come furnished, and most don’t, you’re going to have to add the furniture. Vacation renters want a property that’s turnkey. Walk in, unpack then lock up and go home.
Want some ideas of areas? Check out VacationRentals.com or VRBO.com and you can see not only some areas where people are promoting vacation rentals, but also the rates they are asking. There’s no guarantee they’ll all find tenants but some also have availability calendars attached and you can get a feel for what timeframes are booked and when.
[tags]Phoenix real estate, vacation rentals[/tags]