Renting Your Home to Tourists

If you have a house situated in an area that is frequented by tourists, consider renting out your home. This way, you can earn money to offset part of your daily expenses.

Before advertising that your house is available for rent though, check first with your local building and zoning officials. See if there are any rental restrictions that apply to private residences. If your property is presently mortgaged, review your documents for restrictions about rentals.

Next, look at the rental rates of private properties in your area through websites or the classified adverts section of your local newspaper. This should give you an idea on how much rent you should charge to prospective tenants and still remain competitive. However, take into consideration your property's amenities. For example, if you have a swimming pool and whirlpool at the back, the rent should be higher than average. If your house lacks a certain feature, such as a patio or a garden, then you may want to lower down your rent.

Next, prepare a lease agreement that your tenants must sign. This agreement must list out specific terms including the requirement of a security deposit, use of amenities, liability for broken or stolen items, admission of pets, admission of other guests, and other conditions you deem necessary to protect your income and property.

Finally, advertise your property in the classified advertisements section of your local newspaper and online. You can also put up flyers in areas frequented by tourists such as beaches and bars. In addition, you can put a sign in front of your property.