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Guide to investing in vacation rentals (Las Vegas, NV)

Guide to investing in vacation rentals (Las Vegas, NV)
May 07, 2022

Quite a lot of people tend to spend a large part of their lives traveling due to job peculiarities or their lifestyle. They consider a cozy temporary residence to be an ideal way of staying in different cities and countries.

Now imagine that your vacation property could become a nice temporary home to Las Vegas visitors who are not willing to stay in hotels. Thinking of buying a vacation rental property, or do you already have a vacant one?

The rental industry is very attractive, and it’s constantly gaining greater and greater popularity. Vacation property owners can receive a stable income from rental business.

5 benefits of owning a vacation property in 2022

Owning a vacation property wouldn’t be so appealing if it didn’t come with substantial pros. Real estate investors can benefit from possessing and renting out a vacation home even more. Here’s how:

  1. Vacation and short-term rentals are one of the most profitable option for homeowners and real estate investors. In a month, this type of investment can earn you approximately three times more income than a long-term lease.

  2. As one of the fastest-developing city in Nevada, Las Vegas has a wide variety of vacation homes on offer for sale. And there’s going to be more with new home construction projects running now. If you want to opt for buying a vacation rental property, the easiest and quickest way to find a suitable option would be finding a real estate company. Local real estate agents will consult you about available vacation homes.

  3. You don’t have to worry about your house being vacant. There are plenty of those willing to rent properties for one reason or another: city visitors, people on vacation, tourists, young families, business travelers, young companies and others.

  4. Another undoubted plus of owning and investing in vacation rentals is that you shouldn’t necessarily be attached to the city or country where you lease it. There are also opportunities for foreign investors. They can buy a vacation rental property in Las Vegas to make money by renting it out. In this case, real estate companies offering management for Airbnb short-term and vacation rentals come in handy.

  5. Vacation homes are known to appreciate with time. It means that in the future it is very likely to have even more value and, thus, higher ROI.

Are vacation rentals a good investment strategy for first-time investors?

Investing in vacation rentals is a great way to multiply your profit. In case not owning one, many people purchase a vacation home in order to rent it out and receive additional income. This investment strategy is winning and suitable both for first-time Las Vegas investors and those, who have already had experience with real estate investing.

What are the best Las Vegas locations to invest in vacation homes?

There’s no denying the fact that location matters, when it comes to vacation homes. In case you’ve decided on buying one, we recommend choosing a popular Las Vegas community such as Summerlin, Henderson, Green Valley Ranch, Green Valley South, The Strip, Queensridge and others.

But don’t forget that different people prefer different places for a short stay. So, wherever your vacation property is, you’ll find your tenants.

Follow these steps and start investing in vacation rentals today

  • Choose a reliable local real estate company

    If you do not want to spend much time looking for vacation rentals, best is to turn to real estate experts such as the team of Titon Realty. With their help, it will be faster, safer and easier to find a suitable option for the given features. Moreover, there’s less risk of letting unreliable tenants in your property.

    The professional team could offer vacation rental management services in Las Vegas and take on the responsibilities connected with the lease.

  • Know the local housing market

    Before getting into the real estate business, one of the first things to do is start researching the local housing market. Keep in mind that it is dynamic, and it is only wise to learn about the current tendencies on the realty market, either by your own efforts or with the help of real estate professionals. This will contribute to better investments and, as a result, higher profit.

  • Select the vacation home for renting out

    If you don’t have a vacation home of your own, you can always buy it. The look of the property is not the last place in the things to take into account. Our real estate agent Ben Shimon is the one to highlight the exterior and interior features that could possibly attract more tenants.

  • Carefully prepare the rental property

    Before you start furnishing a property and preparing it for renting out, it’s good to define your target audience: families with children, the elderly, young people or tourists and have this in mind.

    The interior design should be minimalistic yet interesting, with the use of light colors. There is no need to clutter the apartment with unnecessary things. It is enough to provide guests with everything they need. For instance, a wardrobe for clothes, a comfortable bed with several pillows, bedside table, bedclothes, curtains in the bedroom; cooker, oven, electric kettle, cupboards, table, kitchen utensils in the kitchen; towels, mirror, hair dryer, washing machine, shampoo, shower gel in the bathroom.

    It would be very nice of you to include also pepper, salt and some snacks. And don’t forget about air conditioning and stable internet connection.

  • List your vacation home effectively

    Vacation home listing is a separate stage that is not paid much attention by some homeowners, but actually it needs even extra attention.

    When viewing an ad, guests should have the most objective impression of your property, so the photos are to be professional showing all the necessary details and features.

    The advertisement itself should contain all the important information about the property, such as the exact address, how many people the accommodation is designed for, the number of bedrooms and bathrooms, etc. Don’t forget to mention advantages you offer like Wi-Fi, TV, air conditioning, etc., but avoid misinforming tenants.

  • Be a great and hospitable landlord

    Being a good landlord sounds pretty simple, but is it easy? It requires a bunch of responsibilities such as always being in touch and quickly responding to guest requests, cleaning the property well after every stay, checking the appliances, etc.

    It’s also a good idea to prepare some bonuses that will always come in handy like a few bottles of water, some snacks, etc. Such attention will be pleasant to any guest, and will be followed by a good review and a high rating.

    Have no time for taking a proper care of the vacation rental? Find a good vacation homes management company, such as Titon Realty. The professional team will keep the property in order, negotiate with the guests, conduct check-ins and check-outs and do everything to make your guests happy during the stay in your vacation rental.

Remember that renting out vacation homes with the right approach and wise step-by-step actions will help you increase your income!

Want to start investing in vacation rentals and need a professional guidance through the process? Contact us: 702-751-7555 – we’re ready to help!

Areas we serve

Our expertise and reputation has grown our business beyond the local area to include numerous projects in such cities

  • Summerlin
  • Centennial
  • Spring Valley
  • Southeast
  • Southwest
  • Downtown Las Vegas