Ann Powers
Editor

PALO PINTO COUNTY – Vacations have changed dramatically over the years and social media has opened doors to new places as millions of people visit locales they first saw on platforms like Instagram.

But it’s not just where people are going that has changed, it’s where they’re laying their heads when they get there.

The online marketplace for vacation rentals has no shortage of inventory, as popular websites such as Vrbo and Airbnb continue to attract property owners and renters alike. Property owners may want to consider using a home or apartment to generate some extra money.

According to Alltherooms.com, the average annual host earnings on Airbnb in North America exceeded $41,000 in 2021. That income is notable, and it’s undoubtedly one reason why Airbnb reported adding more than one million active listings in 2023.
Property owners should consider the pros and cons to listing homes via a vacation rental service.

“We have an incredible local community, but safety and awareness should not be overlooked simply because of how friendly and helpful our local neighbors are,” said Matthew Renfro, Possum Kingdom real estate agent. “Most of the people looking at your listing will not be local.”

Those who decide to go forward can take the following steps as they prepare to offer their properties as vacation rentals.

Hire a home inspector
A certified home inspector is typically hired when individuals enter a contract to purchase a home, but these skilled professionals can be just as useful when preparing to offer a property as a rental.

Certified, experienced professionals can identify any potential problems or safety issues with a home that could cause trouble when renting a home down the road. Address any safety or structural issues with a property prior to offering it through a rental service.

Install new safety devices
New smoke alarms, carbon monoxide detectors, locks on exterior doors, and other safety features should be upgraded prior to renting a property. In between each rental, test batteries in alarms and detectors to ensure each device is operating at peak capacity.
A new security system with external cameras also can reassure prospective renters that a property is safe. Remote locks that allow for keyless entry to a home is another upgrade that can make it more convenient for hosts and renters to access a property.

Do your insurance homework
Existing homeowners insurance coverage likely will not apply when renting a home as a vacation property.

Prior to listing a property for rent, confirm with your homeowners insurance company the coverage you need to ensure you are protected when renting a home or apartment. Liability and accidental damage coverage are two of the many variables prospective hosts must consider.

Keep emergency supplies on site
A fully stocked first aid kit, functioning fire extinguishers (more than one) and a listing of local emergency responder contact information (i.e., police department, fire department, nearest hospital, etc.) should be made readily available to renters. Check supplies before each new group of renters gains access to the property, and restock when necessary.

Renfro also suggests hiring a vetted and trustworthy team to maintain rental vacation property.

“Many people who list their Palo Pinto home for short-term rentals do not live locally, thus they are not typically the ones that come in and wash the linens, clean the counters and mop the floors before (or) after each visitor,” he explained. “If they intend to go this route, doing proper research on a good and trusted cleaning staff will be important prior to listing their property online.”

Additionally, Renfro said if the property owner hires a management company to care for the rental unit, make sure it’s their main focus.

“One question I encourage people to ask is if rental management is their primary job or something they do on the side of something else?” Renfro advised. “You want someone who will not get distracted by their other job and you’re the one that pays the price.”