Take the time to do little repairs and make updates to improve your vacation property's value, just like you would in any other realty transaction. Does this mean you have to renovate your bathroom? You won't want to make it look bad, but that doesn't mean you shouldn't.
Photos you promote are the first impression potential buyers have when visiting your home. You can sell your property faster by hiring a professional photographer to help generate greater interest than other potential buyers.
Negotiate with the seller to include the furniture in the sale. This allows you reuse the layouts and photos you used to list your property on Airbnb. Some buyers might be tempted to modify things to reflect their vision but others will appreciate the savings and lower start costs.
Although many homeowners think that it's a good idea for their home to be sold in a For Sale as Owner (FSBO) transaction on their own, we recommend you hire a licensed agent. The commission fees charged by most real estate agents range from 5-6%. It may seem like a lot, but it can be a worthwhile investment.
Real estate investors may be able to avoid the capital gains taxes if they reinvest in an identical investment. A lawyer or tax advisor can help you to arrange the sale so that any gains can be placed into an escrow.
It is now time to prepare your assets for transfer if you have already decided to include vacation rental business assets in the sale. This could be as simple as sending copies to your agent. It could also mean emailing copies to your agent, or contacting your rates or revenue management company and going through the process of closing down the account in order to make room for a new owner.
Vrbo has a similarity to Airbnb in that it does not allow reservations to be transferred to a third party. First, and most importantly, you can cancel the reservations and encourage them towards re-booking with a new owner. The cancellation fees for this rental are higher. Vrbo may be contacted with documentation about the property by the new owner. They will be able to waive cancellations and adjust cancellation rates.
