How to Protect Your Vacant Home For Sale, While It Earns Money!
Home Shares & Short Term Rental Market Using Airbnb, VRBO, etc.
Home Shares & Short Term Rental Market Using Airbnb, VRBO, etc.
by Rachel Prince, Rentalpreneur & Licensed Real Estate Broker
I’m sure many of you out there have heard horror stories of vacant properties gone terribly wrong. Here’s a real life example, a Real Estate Broker who thought he was doing pretty good job regularly checking his client’s vacant home for sale had checked only the main level of the house and unfortunately failed to check the basement. As it happened, some frozen pipes burst open and flooded the basement and because it was left for so long, created $50,000 worth of damage. What’s worse was the home had to be taken off the market and eventually sat back in the hands of a renter to cover the mortgage. Let’s face it, vacant listings can be extreme liabilities.
Vacation and executive short term rentals (STRs) have been around for a long time. It used to be that real estate agencies managed most STRs. Nowadays, STR Home Sharing services like, Airbnb ,VRBO, Flipkey and Homestay allow a Hosts to simplify the process and get before millions of potential guests instantly. STRs offer a creative solution for home owners trying to sell. Protecting your vacant home with a short term rental business can offset your mortgage, prevent crippling damage and in some instances, foreclosure. This could mean the difference between selling your home or not.
About Rachel Prince
Rachel is a licensed broker and STR Home Sharing Hospitality Trainer. She uses her real estate experience and hospitality expertise to help her clients get launched quickly, professionally and teaches legal and tax options.
“All over the world people are opening their hearts and homes to Home Sharing. My satisfied clients speak of great guests, all over the world, which has re-inspired me about humanity. I believe this is the time that people looking for more authentic connections, which Home Sharing offers. To me, STRs are really about creating more authentic relationships, in our homes, our neighborhoods and our cities. Plus, as a major bonus, the sharing economy supports collaborative consumerism that can dramatically reduce waste, debt, real estate foreclosures and liabilities. “
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