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Should you invest in an Airbnb in Park City, Utah?

Park City has a thriving vacation home rental market, largely due to the high tourist arrivals to this remarkable resort town. Given this opportunity, converting your Park City vacation home into an Airbnb or buying one for this purpose may seem like a great idea.

Then again, know that running an Airbnb takes more than just setting up an account on the app. Here are a few questions to ask yourself to help you determine if investing in an Airbnb in Park City is a move worth making.

ARE YOU A GOOD HOST?

Running an Airbnb involves plenty of responsibilities. You need to be a good communicator, have good customer relationship skills, and know what renters want out of a vacation home. The profits don’t come by simply taking beautiful pictures and posting them. If dealing with the responsibilities of renting out will be a challenge for you, then you’re better off investing your money elsewhere.

IS YOUR PROPERTY RENTAL READY?

Your home might be your dream getaway but other people may not appreciate your personal tastes. This means you may have to remove or replace certain features, focusing on making the place more neutral to appeal to a wider audience. Likewise, furniture and appliances should be relatively new and in good operating condition if you want to stay competitive in the Airbnb market. Suffice it to say, you should be prepared to put in a significant amount of time and money to make your home truly rental-ready.

HAVE YOU DONE YOUR HOMEWORK?

Before you supply guests with toilet paper, soaps, and linen, you must first check whether it’s possible to lease out your property as an Airbnb, as some local laws and homeowners ’associations might not permit this. Aside from meeting regulations, you also have to protect your venture with rental insurance, which can be difficult and costly to obtain. Make sure you cross out all the t’s and dot the i’s before listing on Airbnb.

ARE YOUR MARKETING SKILLS ON POINT?

Airbnb hosts in Park City face a lot of competition, so you need to make sure your property stands out. This means writing an enticing description, taking beautiful high-quality photos, and completing your profile to provide potential renters with all the information they need to move forward in their selection. Make sure to use a professional-looking photo of yourself in your profile feature to help guests know who will be hosting them. If you can, ask for recommendations from people who know you well to add credibility to your profile.

CAN YOU HANDLE PROBLEM TENANTS?

Not all guests will be cooperative and follow house rules. In fact, some guests can be downright unruly. In the unfortunate event that you end up with problem guests, you must still be able to communicate with them in a calm and productive manner. Discuss the issue with them, remain calm, and arrive at a resolution if you can. If not, offer to cancel the reservation immediately. Whatever you do, it’s always best to remain empathetic. Also, remember that their reviews will be crucial to your vacation property’s success on Airbnb.

Getting to know the opportunities ahead of you when you purchase any of the available properties in Park City with the help of an experienced Realtor like Team Schlopoy. Contact Team Schlopy to learn more about what they can do for you. Call us at (435) 640-5660.

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