Ocean City Summer Rentals: Renting Your Investment Property
Ocean City Summer Rentals Coming on Faster
This year, with the warmer temperatures this winter, summer may seem closer for many property owners. Likely even more so for Ocean City Summer Renters.
However, each year there exists a slow time for booking summer rentals due to the holidays, and then the tax slump. However, this time provides the perfect opportunity to ready your rental property for the upcoming summer season.
Beginning around the middle of April each year, renters take advantage of the occasional nice weekend to visit Ocean City and view available rental units for their summer vacation . With so much competition, it is advisable to have your unit showing its best prior to that time.
Goal: Book with Returning Guest
Most people are creatures of habit. If vacationers really enjoy their vacation time, in a specific property, that was comfortable and accommodated their needs, they are most likely to want to return to that same location in the future. Ideally, the goal is to book your unit with returning guests that you can count on from year to year.
Best Practices to Ensure Rebooking
Your property will show its best, IF you:
- Shampoo all carpets
- Spring clean entire unit
- Clean out closets and leave blankets and items folded and neat
- Replace old pillows, stained comforters and blankets
- Touch up paint on marked up, or scarred, walls
- Replace broken blinds or torn curtains
- Wash bath mats
- Replace stained or torn shower liners
- Replace damaged pots and pans
All of these items are relatively inexpensive. If you earn one extra week due to these efforts it would cover the costs. If your unit is competitively attractive and well stocked it will rent better.
There are also items that tenants will appreciate:
- Provide luggage stands (helps prevent tenants from throwing dirty luggage on beds and chairs)
- Coffee maker
- Kitchen towels
- Iron and ironing board
- Extra hairdryer
- Automatic dish washing detergent (helps prevent unaware tenants from using liquid dish soap and overflowing the dishwasher)
- Vacuum (removable dirt canister – bagless type (often bags do not get replaced in a timely fashion), broom and mop (tenants will keep things clean if they have the correct tools
- Door mats at entry and at sliders (will help keep the carpets and flooring clean)
In addition to the basics listed above, adding some decorative touches, such as table and shelf ornaments, beachy type pictures and wall hangings go a long way towards making your unit more desirable than your competition.
Maintenance (to avoid early service charges)
- Replace damaged dryer filters (also assists in reducing lint and dust)
- Have air conditioners serviced and replace filters
- Make sure sliders, doors and locks are operating easily and smoothly
Ocean City Summer Rental: Don’t Miss the Deadline
FOR A TRULY PROFITABLE SEASON it is also very important to sign your property up with a local rental company no later than April 15. Most reservations are booked between April and September, including scores of last-minute reservations.
It is a good idea to check other properties in your building for an accurate idea of pricing. If you lose one week due to over pricing, you lower your overall average.
REMEMBER to renew your rental license with the Town of Ocean City!
With a little preventative maintenance, and some homework, your property will have all the advantages required to ensure a successful summer season!