Even if you’ve never considered operating a vacation rental home, if you plan on selling your existing home this year, it may interest you now – at least temporarily. Phoenix is currently enjoying a robust housing market, but even “robust” can have its highs and lows. Historically, more homes in the Phoenix area are sold in the spring and summer months than in the fall or winter. Moxie Girl founder, Amanda Thomas, believes that if your home has been on the market for a while, but hasn’t sold by October, temporarily converting it to a vacation rental home while it remains on the market may make a lot of sense.
The idea of temporarily operating the home as a vacation rental makes even more sense if the home you have on the market is considered “luxury.” Instead of sitting vacant while still requiring regular maintenance to keep the home tour-ready, your home could be bringing you income instead of just expense allowing you a bump in cash flow!
“Fall and winter months here in Phoenix are booming in terms of vacation rental home bookings, but sales of luxury homes are less during those months than the rest of the year,” says Amanda, “so it may be much more profitable to put off your sales listing for a few months and let the income from temporarily operating the home as a vacation rental cover the expenses you’d be incurring anyway, even if the home sat empty.” Bonus: Having regular guest activity on your property can also help deter break-ins, as well as help you keep an eye on home systems that could malfunction and go unnoticed on a vacant property.
Moxie Girl has previously explained the benefits of continuing to operate your vacation rental home through our brutal summer months, vs. “shutting it down.” You can easily apply some of this information to the subject of temporarily operating your for-sale home as a vacation rental vs. leaving it vacant while it sits on a slower market. Pay special attention to Myth #3 in our blog “Summer Vacation Rental- Moxie Girl Debunks the Myths.”
We’ve also got some useful information about setting up a vacation rental home in the best and most efficient way! Check out these blogs:
In an attempt to crack down on short term rental properties acting as “party houses” Governor Doug Ducey recently signed HB2672 into law which affects the licensing and reporting requirements necessary to operate a vacation rental anywhere in the State of Arizona. Get the details HERE!
From vacation rental home conversions to regular, between-guest care of established vacation rental, Moxie Girl has vast experience in the Phoenix area vacation rental home industry! CLICK HERE to see how Moxie Girl can become your vacation rental specialist!
We are always looking to add the newest member to our Moxie Girl team, too! Moxie Girls (and Boys!) enjoy flexible scheduling and physically active work in a fun, supportive environment, with plenty of opportunity for growth! CLICK HERE to introduce yourself and learn more about becoming a Moxie!