Should I Rent Out My Vacation Home in Panama City Beach?

Owning a vacation home in Panama City Beach is a dream come true for many people. Having access to your favorite beach town any time you want, and knowing you have an ideal place to stay, is hard to beat. When you are not enjoying your vacation home for personal use, you can leverage this investment to begin paying for itself.

In a market as popular as Panama City Beach, you can count on a steady demand for a short term vacation rental. Still on the hunt for that perfect property that can become your personal Panama City Beach vacation home and an income property, all in one? We can help. Contact us any time to learn more.

If you decide to transition your personal vacation home into a vacation rental, here are some tips to help you make the shift.

1. Swap out personal decor for something more general

To transition your home from personal vacation home to vacation rental, swap out personalized decor like framed family photos for something with a more general appeal. While these things might make you feel more at home during your own vacation, they will likely feel out of place for your guests.

You can still choose decor with sentimental value, just opt for things that are more subtly personal. For example, choose a painting of your favorite beach or a sculpture that has personal meaning rather than a photo collage of the grandkids.

2. Install locks on a closet or two

There are likely some things in your vacation home that you would rather not be used by guests. Install locks on a closet or two where these things can be packed away when you aren’t in the home.

Things you may want to store in this locked space could include:

3. Fully stock the house

After removing your personal belongings to store in the locked closet, make sure the home still feels comfortable and welcoming by fully stocking it with:

4. Block out your preferred dates far in advance

As far in advance as possible, block out the dates you plan to use the home for your personal vacation time. Chances are, the time you love to vacation in Panama City Beach is the same time your vacation rental will be in high demand. Avoid a frustrating scenario by making sure your home is not booked by a guest when you planned to use it.

5. Consider a property manager

Some people prefer to hire a property management company to handle the daily tasks associated with running a vacation rental. While it is true that this will cut into the profits of your vacation rental business, many people find that to be totally worthwhile.

Ask a few local companies for a quote and list of services they provide to decide if it will be worth it for you. Some of the common services property managers can provide include handling booking, housekeeping, attending to guests during their stay, enforcing house rules, and collecting fees. If you are looking to minimize expenses, these are likely things you can manage from afar, but they may end up feeling like a part time job (or a full time job during the busy seasons).

To learn more about owning a vacation rental in Panama City Beach, contact us any time.