Buy A Vacation Rental Home In Arizona
You Can Generate Income From Your Vacation Investment Property
We have been specializing in the second home market for several years, and have realized that we needed to find a way for our clients to generate some income on their second homes when they aren’t able to be here enjoying all the beautiful valley has to offer. In 2011, we opened Arizona Focus Realty with a focus on the second home market and vacation rental/short-term rental (STR) management. With over 10 years’ experience managing and selling vacation rentals in the valley, we have the experience to guide our clients through the process of purchasing a profitable vacation rental property. There are many factors that set vacation rental properties apart from typical properties and purchasing a property when you “don’t know what you don’t know” can be costly, and even detrimental for your vacation rental property.
We can help you navigate the nuances of the vacation rental market, and will advise you on key considerations.
Key Considerations When Buying a Vacation Rental Property in Arizona
We have over 10 years in the vacation rental industry, as managers and realtors helping our clients buy and sell their vacation rental investments.
Location
Location is one of the most important considerations when purchasing your vacation rental. Since most vacation rental owners will use their property from time to time, we will work with you to find a property in a location that meets your needs and is profitable. Do you want to be close to a downtown area for nightlife, shopping, and dining? Or perhaps you’d prefer to have mountain views with hiking nearby. Can’t decide? We can help you find a property that’s centrally located so that you and your guests can take in all that the valley and surrounding areas have to offer.
Each area of the valley has its own unique feel and personality, and it’s important to ensure that you’re buying in an area that offers amenities that you’re looking for, and in close proximity to freeways for easy access to all that the valley has to share.
Income Projections/Costs
The income that your vacation rental home will generate can be challenging to predict, as there are many factors that affect income such as how often and when you will be using the property, local events scheduled, etc. The vacation rental industry is seasonal, so it’s important to understand estimated occupancy and income for peak, shoulder, and low seasons. We have the experience and resources to supply you with income projections on properties during the buying process.
We can also provide you with estimated costs that you will incur to hold and maintain your vacation rental property, including utilities, pool/yard/pest maintenance, management fees, and more.
Maximize Profit
We want you to love your new vacation rental for many reasons, but most importantly we want you to love the income it generates! We will help advise you of the best use of space and ideas to help keep those bookings coming. From bedroom set ups to outdoor space utilization, we understand what travelers are looking for and will help guide you through ideas for the best setup for your vacation rental.
Risk Reduction
As with any new business venture or investment, you want to understand and thwart as many potential risks as possible. We will advise you on potential issues and provide resources to help with things like appropriate insurance, pool barrier laws, tax licensing requirements, etc.
Maintenance
Maintenance concerns are often a concern for vacation rental owners since it can be daunting to be responsible for maintaining a property from afar. The team at Arizona Focus Realty can help advise you on best practices to reduce maintenance issues, from preventative steps that you take to referring professionals who can be part of your Arizona team to help make the process stress free.
Resources
We have accumulated a long list of resources to help make the process of buying and kicking off your vacation rental a breeze! We can provide referrals for lenders, insurance providers, and construction trades (from handymen to general contractors, and everything in between). We have extensive inventory lists to ensure that no detail is missed, and we can provide recommendations for places to shop for furnishings. When you’re ready to start welcoming guests, we can help answer questions on the best property managers for your needs - whether you want to self-manage or hire a full-service management company.
Think Outside of the Box!
Worried about always being stuck vacationing where your vacation rental is located? Over the years, we have met many creative and inspiring people who have given us some wonderful ideas for how to make the most of your vacation rental. Europeans have been using home exchange programs for decades as a way to vacation all over the world by swapping your property for another. We have seen clients who offered their vacation rental as a home exchange opportunity receive offers to swap vacation properties and travel all over the world - from Iceland to Italy. Do you own a business? Offer your clients a vacation at your Arizona getaway, or offer a trip as a raffle item to raise money for a business or cause that you are passionate about. The opportunities are endless!!!
