What has majestic lakes, scenic campgrounds, charming brick streets, and incredible historic architecture?
If you answered Tyler, TX, you're right. Those features are also some of the primary reasons thousands visit the city yearly. From mid-March to mid-April alone, this beautiful city welcomes around 60,000 visitors.
So, why not rent out your house to some of those visitors? In doing so, you can generate rental income and help Tyler's tourism economy.
This vacation rental process guide will help you get a headstart, so keep reading.
Understand Tyler's Short-Term Rental Laws
Many cities in Texas, such as Austin and San Antonio, have stringent permit requirements for short-term rentals (STR).
Tyler doesn't have as many vacation rental laws as it doesn't require STR permitting. However, you should still register with the Texas Comptroller's Office. That way, you can declare and pay taxes on your rental earnings.
Adjust Rental Prices as Needed
One of the most effective vacation home rental strategies is charging reasonable rates for your property. You can charge more during peak season, such as when the annual Azalea & Spring Flower Trail is on. This event alone attracts hundreds of thousands of visitors to Tyler.
However, once the low season rolls around, visitors have more vacation homes to choose from. You can still attract holiday-goers to your property by reducing your rates.
List Your Rental Like a Pro
Highlight your property's best features when marketing and listing it.
Is it near famous spots, like the Tyler Rose Garden, Azalea district, or Lake Palestine? If so, include this information in your listing. Do the same if your property has a pool, jacuzzi, or well-manicured lawn.
Other examples of features and descriptions to include in your listings are:
- Number of bedrooms and bathrooms
- Patio, porch, or deck
- Free Wi-Fi
- Pet-friendly policies
Once you've created engaging listings, back them up with high-quality videos and photos.
Partner With a Vacation Rental Manager
A vacation rental manager can help maximize your rental profits and minimize the tasks you need to manage your property. For one, they can handle all legal matters on your behalf, such as registering your business with the Texas Comptroller's Office. From there, they'll handle the following tasks:
- Price your vacation rental right
- Advertise and list your properties on various rental platforms
- Answer property inquiries
- Screen guests
- Manage bookings and payments
- Assist guests in checking in and out of your property
- Oversee and facilitate property inspections, maintenance, and repairs
Your manager will also acquire the necessary rental insurance policies. And, if you partner with the right one, you may even get a free rental analysis!
Rent Out Your House Successfully
If you want to earn extra income, it's time to rent out your house in Tyler, TX. However, you must also prepare to spend time and effort securing bookings and managing your property.
The good news is that you don't have to do everything alone. Our full-service, locally-owned property management company, PMI Tyler, is here to help your vacation rental prosper. We're a proud member of PMI, a national company that has served the property management industry for over two decades.
So, connect with us today! We look forward to giving you a free rental analysis and sharing what we can do to help make your rental business successful.
