Annapolis, Maryland's waterfront location along the Chesapeake Bay helps attract over two million visitors each year. If you're hoping to cash in on this port city's appeal, owning a vacation property is a good place to start. But you'll need a strong game plan with the right rental profitability techniques.
Ready to learn more? Stick around to find the best strategies for maximizing rental income in Annapolis!
Improve Your Property
You can start increasing property revenue when you invest in making your property better. After all, a dated property can be a big turn-off to prospective guests. Set your property apart by:
- Updating kitchens and bathrooms
- Introducing amenities like hot tubs or saunas
- Sprucing up landscaping
Updating kitchens, for instance, can keep your home competitive in the Annapolis rental market. Guests will enjoy having a spacious island to prep food with the family or a fresh bathroom attached to the master bedroom. Add an outdoor hot tub to make crisp fall nights in Annapolis even more enjoyable.
The best vacation rental strategies factor in the value of curb appeal, too. Take care of overgrown landscaping and add a fresh coat of paint to weathered siding. You'll boost your home's appeal as the perfect getaway!
Make Marketing a Priority
When it comes to Annapolis rental tips, one of the biggest ones is to put together a solid marketing campaign. You'll need to:
- Find online listing platforms
- Take high-resolution photographs and videos
- Write detailed descriptions
Quality photographs will highlight your property's strongest features. You can show off an updated kitchen or provide a panoramic view of a new deck, for instance. Good photos also demonstrate a level of polish that will help potential guests feel more comfortable choosing your property.
Use reputable listing platforms and social media pages to broadcast your property. Post drone footage of your property and use hashtags to help generate greater visibility on social media postings.
Focus on the Guests
Property income growth starts with providing a quality experience for vacationers. When guests are happy, they may be more likely to book again or recommend your Annapolis property to others. To make your guests feel at home, plan on:
- Responding to all questions quickly
- Providing contact information
- Adding personal touches to the guest experience
Guests will appreciate the ability to get ahold of you while they're staying at your property. Give them your cell number and respond to all inquiries right away. Be warm yet clear with all communication efforts.
Leave a welcome basket on the kitchen table with a handwritten welcome note. Some local coffee and a list of recommended restaurants and attractions will make a great first impression!
Start Maximizing Rental Income
Maximizing rental income boils down to creating a desirable Annapolis property and marketing it well. Invest in property updates and take quality pictures. Be accessible to guests and add personal touches to help them feel welcome.
At PMI Annapolis, we boast vacation rental management certification and in-depth local real estate knowledge. We're part of the top property management franchise in the country, offering expertise to make running your vacation rental property easier. Contact us today to learn more!
