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Yes, regulations for vacation rental owners in Palm Springs and Palm Desert can be daunting and even intimidating. But they shouldn’t stop you from taking advantage of what could be an excellent income source.
According to the Mashvisor Palm Springs Real Estate Market Report 2020, the city’s average monthly Airbnb rental income is $4,470. That works out to $53,640 a year. Of course, that’s just the average. Some short-term vacation rentals pull in far more in annual income (and some considerably less).
Now, about those pesky regulations: if you’ve Googled your way to the 21-page Ordinance No. 1918 or combed through the Frequently Asked Questions document on short-term vacation rentals in Palm Springs or the collection of documents on Palm Desert vacation rentals and concluded you have no desire to tackle this on your own, we have a suggestion: don’t (we’ll discuss an easy way to take care of this stuff in a moment).
After all, few Palm Springs and Palm Desert vacation rental property owners are interested in the minutia of existing regulations governing vacation rentals – or in staying on top of regulatory changes going forward.
And regulatory compliance is just one facet of optimized vacation rental property management. On Airbnb and many other sites, listings should take advantage of each site’s qualities and attract the right potential renters. Communication with inquirers and renters must be flawless – and timely (even during evening hours, including, at times, 2 am calls from renters).
Pricing needs to be optimized on a daily basis. Housekeeping must not only be maintained at a hotel-quality level; housekeepers should be trained to spot damaged items, wear-and-tear, and other issues, and promptly report them, to help maintain strong reviews.
On that note, “review management” isn’t just a fancy term; it could mean the difference between high and mediocre net income. Gaining Superhost status on Airbnb is, for many owners, a financial bonanza.
As for that easy way to keep you from having to go it alone, many owners have chosen to get the best Palm Springs or Palm Desert vacation rental management company available. Very often, the added income from price optimization alone covers the monthly management fee.
With a vacation rental property management business like One Fine BnB managing your property, you offload a big burden while enhancing your listings, broadening your exposure, improving your reviews, and raising your income.
Find out more about optimizing every key aspect of Palm Springs or Palm Desert vacation rental management by downloading our complimentary guide, Capitalizing on the Vacation Rental Boom: 8 Keys to Success. You’ll also learn more about One Fine BnB, the vacation rental property management service that does it all, so you largely sit back and collect a direct deposit each month.
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